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Executing Projects Profitably From Start to Finish

The days of managing construction projects with just a job folder and gut instinct are long gone. Contractors today must leverage software to operate efficiently and remain competitive. However, obstacles to optimized processes and profitability remain for contractors using a variety of applications that don’t properly connect and communicate with one another.

Using multiple software programs creates silos throughout a company, resulting in duplication of effort and hindered communications, among other issues. To manage everything from takeoffs, estimates and project management to financials and inventory, construction businesses should consider implementing one complete software solution that handles all aspects of a project. This end-to-end software helps contractors effectively manage projects (and the overall business).

Complete construction management solutions allow control of critical business operations and seamless workflow across departments. Furthermore, features for mobile devices provide easy access to real-time job information from any location. Not only does this help improve efficiency, but owners and project managers have decision-making details at their fingertips to maximize profitability on every project.

The Starting Line: The Takeoff and Estimate

By performing a digital takeoff and then using that data (along with the software’s labor and materials costs database) to create the estimate, a contractor saves significant time and increases accuracy. Managing subcontractor bids and supplier quotes within the same solution saves the contractor time and money when developing its bids, translating to more bids in less time.

When bid day arrives, having the capability to create “what-if” scenarios and different versions of the same estimate helps the contractor make quick adjustments and better negotiate a contract to win the work.

Additionally, having the estimate data in the system is extremely valuable for developing future bids. A seamless solution allows contractors to track estimates and proposals by win/loss or by each individual estimator—gaining better insight into what the company does best.  

The Race: Managing the Project

Once the contract is awarded, all takeoff, estimating and bid day information can be found in one place and then used to develop a project schedule and resource plan for successfully completing the job on time and on budget. Resource planning and milestone dates for phase completion are critical. The project manager needs to know who will be available, what pieces of equipment have been assigned and when materials will arrive, as well as ensure that deadlines are being met.

As the contractor dives deeper into the project and needs to process purchase orders and change orders, the ability to electronically create, track and manage these documents through completion is essential. When not tracked, changes can be a cost burden to the contractor. In other cases, contractors rely on change orders to make the project profitable because the original estimate was too low to cover expenses. By using a complete solution, contractors can see improvements in their approval process, capitalize on job opportunities and save money on potentially costly mistakes.

Project managers will make or break a job based on their ability to deal with myriad details. By automating tasks and making it easy to access data anytime and anywhere, a complete construction management solution takes the guesswork out of project management.  

The Finish Line: Making a Profit

It no longer makes sense (or cents) for contractors to manage their operations manually or to use multiple software products. Such methods have costly limitations and create obstacles for team members to work together. By using a single solution to access all pertinent project-related information, construction businesses are equipped to manage the entire project life cycle—from the planning and job initialization phases through the final punch list items.

With end-to-end business management solutions, contractors can gain better visibility into every project, easily spot discrepancies and errors, hone their business strategy, improve cash flow and keep financials in the black with accurate return on investment.  

Jim Flynn is president and CEO of Maxwell Systems, King of Prussia, Pa. For more information, call (800) 688-8226, email jflynn@maxwellsystems.com or visit www.maxwellsystems.com

Sigfusson Northern LTD

Sigfusson Northern LTD uses Maxwell Systems StreetSmarts as its job cost accounting and project management software solution. With StreetSmarts, SNL manages all of the accounting practices and job costs for their seven entities across the U.S. and Canada; maintain information in one place, in one format; manage payroll in-house; track and bill equipment expenses; and streamline workflow between the office and job sites.

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Our Story of Complete Construction Software

Maxwell Systems provides construction software solutions that help contractors to streamline workflow, increase productivity, and improve profitability. Furthermore, we understand that today's contractors must optimize processes across all business areas to gain or maintain an increasingly important competitive edge and ensure a successful business. Critical, to that end, is timely and efficient communication and information access among estimating, job cost accounting, and project management teams.

By using a Maxwell Systems complete construction software solution, you'll be able to better operate your business with increased efficiency and streamlined operations, and confidently increase profitability on every project. You will have the tools you need to accomplish more in less time; taking the guesswork out of reaching true profit potential; and improving financial stability for long-term benefit.

Why Maxwell Systems?

Maxwell Systems is truly unique with its ability to offer contractors a complete, seamless software solution that allows:

  • A new level of continuity and productivity among estimating, job cost accounting, and project management
  • Better insight, analysis, and financial oversight for owners to make informed and timely decisions
  • Improved operational efficiencies, cost reductions, and increased profits

Contractors value having an end-to-end solution from one company:

  • All applications work together seamlessly
  • Efficient access to comprehensive support and services
  • A stable technology partner committed to customer success

How Your Business Benefits

A complete construction software solution from Maxwell Systems provides end-to-end control of your business so you can see a day's profit potential at a glance, identify and prevent potential financial losses, spot discrepancies and errors, and manage projects with accurate information in real-time.

With tailored features designed to fit each member on your team, construction company management software ultimately allows your business to:

  • Attain end-to-end control and increased visibility
  • Achieve easy and accurate reporting with real-time data
  • Optimize project execution for maximum profitability
  • Streamline operations with seamless workflow

The Bid-to-Cash Cycle Explained

Managing each of the key process areas of a construction business – Estimating, Construction Accounting, and Project Management – requires vastly different talents and areas of expertise. The reality is that each of these functional groups is related and dependent on one another.

For your organization to run in an optimal fashion, the groups much work together in an optimal fashion. Together, these functional areas compromise what we describe as the Bid-to-Cash Cycle. And our goal at Maxwell Systems is to provide software for construction so you can bridge the needs of the functional groups, better manage this cycle, and so maximize profitability.

When construction estimating software, construction accounting software, and construction project management software are working together in a seamless system as a complete construction business management software solution, then a contractor is truly poised for optimal profit and productivity.

How does a complete solution fit your part of the cycle? Here are a few examples:

  • Owner: It's all about reducing waste, uncovering lost opportunity, exposing shortcomings, and maximizing resources – all which impact profit and the bottom line. With end-to-end visibility of every project, executives can hone business strategy, improve control of cash flow, and keep financials in the black with accurate ROI.
  • Estimator: Beyond estimating projects, the estimator can access more accurate information in regards to how the project actually performs. This will allow the estimator to improve accuracy on future estimates with actual labor and production rates, updated material prices, and other resource related items.
  • Accounting: Not only a company's construction accounting system, a complete solution helps to streamline the procurement processes for optimal efficiencies and produces more accurate purchasing processes. Additionally, billing processes, inventory issuances, and many other processes are streamlined. Less data entry, better accuracy, and reliable audit trail allow convenience and peace of mind.
  • Project Manager: The seamless workflow from Estimating to Project Tracking allows for a streamlined method of creating the job and then tracking performance against the estimate. Within the complete solution, the construction project management programs also provide the detail required for the Project Manager to understand what the Estimator was thinking when the bid was put together. Plus, by accessing real-time information whether in the office or in the field, the project manager can track progress, be more agile, and better handle all aspects of jobs from beginning to end.

Bottom Line

To succeed in today's competitive marketplace, construction business owners must improve productivity and have end-to-end visibility to see how jobs perform (and turn profit) from start to finish. Maxwell Systems knows construction company software and can be your partner by offering truly unique products (as well as support and services) that address the entire construction project lifecycle – from digital takeoff through final cash payment. Our seamless system provides your company with all the capabilities you need for estimating, job cost accounting, and project management, and ultimately for superior insight and analysis of your business.

Imagine the flexibility and insight by having one solution for estimating projects, for construction accounting programs, and for construction project software! All that and more in one system will help your business be more competitive and profitable.

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