U.S. Government Signs $1 Trillion Infrastructure Bill
At the end of 2021, the American government signed a $1 trillion infrastructure bill into law. The Infrastructure Law outlines a plan to:
- Build better roads and bridges: 173,000 miles of highways and roads in the U.S. are in poor condition. The Infrastructure Law includes $110 billion in new funds for roads, bridges, and major projects.
- Add jobs to the economy: The law will look to add 175,000 manufacturing jobs, 175,000 construction jobs, and 100,000 transportation jobs
- Provide access to high-speed internet: Providing 100% of Americans with reliable internet
In addition to the above plans, there will also be an investment in replacing public transit vehicles, eliminating lead pipes, addressing the climate crisis, and more.
With the signing of this law, the government is effectively going to jump start the construction industry.
So what better time to invest in a construction project management software than now?
Get a piece of the $660 billion dollar pie
There is going to be a $110 billion injection directly into the construction industry to build roads and bridges. Using construction technology to manage your projects will give you a leg up on the competition when bidding for these projects.
Not to mention the $550 billion in new funds for transportation and broadband utilities that will undoubtedly require construction management, too.
There are going to be a lot of government projects out for bid in the near future. Let’s get you prepared to handle the bids, project management, and billing requirements so you can beat out your competition and get a piece of the pie.
Start looking for a construction management software now
Your first step towards winning more of these projects is to use a construction management software. If you’re still using paper or spreadsheets to manage your labor, equipment, and material, you’re losing money.
In fact, the construction industry as a whole can’t afford to ignore digital trends any longer. According to the McKinsey Global Institute, lagging construction productivity costs the global economy $1.6 trillion per year.
And just to really drive home how much those paper timesheets and tickets are costing you, McKinsey & Company says that large projects in various construction classes typically take 20% longer and are up to 80% over budget. A construction management software stops this from happening.
So if you haven’t invested in construction technology yet, it’s imperative that you start looking for one. It’s costing you more than you think.
What to look for in a construction management software?
Construction technology as a whole has come a long way. While there are still some systems out there that are, shall we say, a little “prehistoric”, there are also options that use state of the art technology, while remaining user friendly for field crew. And you’ll find there are lots of options out there. Here’s our guide to help you look for the features you will need in a construction management software.
No wifi? No problem. Look for a software that works offline.
The whole point of using construction technology is to make your life easier, all while saving you money. One of the ways to do both of these things is to use a construction project management software that allows you to see, in real-time, the progress of your jobs. Job Performance and WBS (Work Breakdown Structure) tracking allows you to do just that. Make your life easier by eliminating data entry and save money by getting real-time visibility into profit and loss reports.
If all goes to plan, this law will add 175,000 new construction jobs to the economy. Now, we’re not saying you’ll be employing all 175,000 of these people…but you will likely be hiring if you start winning more bids. Find a software that can dispatch crew and equipment to job sites. Not only that, find a software that will keep track of certifications, too.
A construction management software will touch numerous departments: accounting, finance, operations, and more. Find a software that won’t take a genius to operate because you’ll need buy in from everyone from the CEO to the Foreman.
Look for a cloud-based system. You don’t want to purchase a software that sits on your desktop and never gets updated. Cloud-based systems are typically updated more frequently than on-premise systems. This means you’ll get advanced technology, without the big leaps and learning curves every time an update happens. Not sure what the difference is between the cloud and a server? Start here.
Look for a construction management software that separates payroll and billing, meaning that time can be used for payroll purposes and for billing purposes, not just for one or the other. This article explains why this is important and how to look for it.
Since this article is written by us, it should come as no surprise that Aimsio offers all of the above capabilities. Sure, we’re biased, but we’ve also worked hard to ensure we understand what construction companies need in a software. We’ve helped thousands of people transform the way they capture time and material costs and use the data to their advantage.