3 Reasons Why You Should Invest In Your Construction Tech Stack

Published: May 05, 2021
Last updated: October 08, 2021
Read time: 3 minutes

Construction technology is booming, and for good reason. The time and money you save by digitizing your workflows can be invested back into your company’s growth. And, to be clear, tech isn’t something you should only be using to fix problems. You should be using technology to innovate and advance your business, and to give yourself a competitive advantage over your competition.

Here are three reasons why you should invest in your construction tech stack.

1. You’ll gain efficiencies (save time and money)

You have a lot of different tasks to accomplish in the field, like filling out daily reports and giving toolbox talks. Although construction companies have begun to take advantage of technology, pen and paper is still the industry norm. But not only does paperwork take too long—it’s easier to lose track of, which can lead to incomplete or missing documentation.

Construction software is built to make your job easier. Some solutions even come with a mobile app that your field supervisors can use to send real-time updates to the office throughout the day. Plus, everything is stored online, so you can quickly access it whenever and wherever you need.

Greater visibility into your business functions will also help you identify areas you can cut costs (such as equipment rentals). The more data you can collect on projects, the better decisions you can make, and the stronger your cash flow can become.

2. It will address all of your needs

While all-in-one technology solutions can be great, they may underdeliver when it comes to solving specific problems. That’s one of the main reasons we’re seeing so many new construction technologies become available, focusing on very specific problems. When the problem they’re solving is specific, so is the solution.

Billd, for example, focuses on solving the cash flow issues that almost everyone in construction has experienced. There are also solutions like Raken, which helps you collect and manage field data while streamlining your team’s communication.

By diversifying your tech stack, you can address all of your business needs and pain points with the most efficient solutions. The vast amount of construction tech out there gives you plenty of options to choose from.

3. You’ll empower your team

Using technology effectively goes beyond day-to-day business operations. When you give your crew the right tools, they’ll feel empowered in their role—and be motivated to work harder as a result.

When used correctly, tech helps you do exactly this. By communicating more easily between the field and the office, for example, you can achieve greater visibility and transparency all-around. This is crucial for building trust within and between teams. When you actively work to build trust, your employees will feel empowered to identify and speak up about opportunities to improve the business.

Remember: Always tailor your tech stack.

At the end of the day, technology is most effective when it meets your business needs and is utilized by your whole team. A solid construction tech stack will help you achieve your goals and smooth out your cash flow. Take the time to consider all of your options, and be sure to involve your field crews from the start so that you pick a solution that works for everyone.

This is a guest post from Raken

Raken helps construction companies streamline field operations and collect real-time jobsite data and insights. Built for the field, our mobile app is easy to use, so field crews can keep the office updated and document everything—no extra effort or training required. Increase communication and project visibility with daily reports, time cards, production tracking, toolbox talks, safety & quality checklists, and more. They’re trusted by thousands of companies including Level 10 Construction, J.W. Danforth, and Opus Mechanical. Learn more about Raken here.

 

About Billd: At Billd, we provide a payment solution that enables commercial construction contractors to free up cash for material purchases while enjoying the flexibility of 120-day payment terms. You get financing for commercial materials upfront with the freedom to pay it back at your own pace. Learn more about how Billd can help eliminate your company’s cash-flow problems so you can win more bids and grow your business.

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Chris Doyle Headshot

Chris Doyle CEO of Billd

Christopher Doyle is an entrepreneur and business leader with extensive construction industry experience and a record of launching successful startups. He is the co-founder and CEO of Billd, a disruptive payment solution for the construction industry that helps contractors and suppliers grow their businesses with less hassle and risk. Recognizing the cash flow hurdles that contractors face when purchasing materials, Doyle launched Billd to make traditional Wall Street working capital accessible to business owners in the construction industry.