Future-Proof Your Contractor Business

contractor business

If nothing else, 2020 verified what most of us already knew:

  1. Construction is an essential business.
  2. You can’t predict the future.

If you have a construction contractor business, here are some tips to protect yourself from future surprises. For Construction Pros calls it “future-proofing your business.”

What Your Contractor Business Can (and Can’t) Control

There’s nothing you can do to control the global economy. A contractor business may not be able to influence global politics, but it can up its game technologically.

BIM + ERP = Greater Profits

Building information management (BIM) and enterprise resource planning (ERP) are software technologies that are perhaps used in your contractor business to manage financials and human resources. But when working together, they can deliver much more.

ERP empowers companies to predict project performance, lower costs, and deliver projects on-time “at a high quality and with minimum risk.” But it needs data to make this happen.

Implement IoT for Servitization

“Servitization” is a transformation journey, said Cambridge’s Andy Neely. It’s developing the capabilities you need to provide services and solutions that supplement traditional product offerings.

A servitized arrangement puts you in a partnership with the project owner. It increases your risk but the Internet of things (IoT) can be used to track performance and increase compensation.

Utilize Off-Site Construction

What’s not to like? Off-site fabrication makes better use of labor and materials. It lowers costs, makes timelines more attainable, and a contractor business doesn’t have to work around the weather. We may see an increase in materials’ and parts’ standardization.

Secure the Future of Your Contractor Business

Transformational technologies are basically software programs that enable new opportunities. Construction Monitor provides transformational technology benefits to your construction business every time we sort building permit information for you. Our service maximizes your time by giving you customized information that is in real-time and relevant to your contractor business. 

You can use it for leads.

Use it for more competitive bids.

You can use it to partner with other companies.

You’ve got to use it.

Contact Construction Monitor to put our future-proofing information to work.

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