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Smart shopping Finding the right construction and financial management software Technology has exploded in recent years, fueling a dizzying array of construction and financial management applications from competing vendors - all of whom tout their products as the solution to better work processes. Let's look at how you can sift through the chaff to get the right solution.
Assess your needs Don't buy anything until really thought through your needs. For example, what type of system and functionality would you like? Do you need a basic estimating software program? Or would a more powerful system that integrates financial, project management, purchasing and inventory activity be more appropriate? Consider the compatibility factor. If you're using an older operating system, new software may not be compatible. In that case, you'll be looking at additional costs to have an IT person update the older applications or start from scratch. Ask your in-house accounting and scheduling personnel what types of reports they need from a new system, and then develop a "wish list" that you can use to measure different packages. Talk to customers who use the software you're considering and grill them on "the good, the bad and the ugly" application features. They can also grade the vendor's technical support - a critical factor with any software purchase. Also ask other contractors who have used the software for at least one year to see if they're satisfied with their purchase. Narrow your list of vendors You'll find numerous vendors and products from which to choose. So, just as you'd do your homework on a heavy equipment purchase, do it for your software as well. Seek companies that have been in business for at least five to 10 years and have a track record of successful implementations. While gathering information, find out what kind of technical support is included with your software purchase. If you buy a top-of-the-line system but the vendor's customer service is nonexistent, you and your employees won't be happy. When you've whittled down the vendor list to the serious contenders, ask for free trial periods or extensive online demos to help you determine the best product for you. Think through the implementation Because implementing software is a sizable undertaking, be sure to designate a project manager to lead the transition to the new application. And don't skimp on the training and support. You and your employees will need thorough training to learn about the software's functionality and how to extract its full potential. It's money well spent Investing in top-of-the-line business and financial software will lead to fewer mistakes in estimating, bidding, project management and job-cost accounting and enable your company to be more competitive. |
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