Have you ever felt that you cannot catch up on the tasks to your to-do list? As a result, feeling totally overwhelmed while being swamped with work? To avoid this, time management is needed: the main tool that helps us stay organized. Our resources, such as forces and time, are not unlimited and people have to be able to manage them carefully. Time management will assist with: Prioritizing your tasks Construction is a fast-paced environment …
In today’s business world, many construction companies struggle to accurately determine the root causes behind declining productivity, rising costs, or stagnant growth. To solve the issue, they implement analytical tools that are rarely enough to instantly diagnose operational issues, discover trends, and catch opportunities. Ujimatec’s Construction Business Management Solution (CBMS) includes a customizable reporting engine and business intelligence tool that shows real-time company health analysis and personalized key performance indicators (KPIs) on each user’s homepage. …
How to Use Business Intelligence and Real-time Reporting to Gain a Competitive Edge Read More
Construction is one of the oldest industries in the world and it is critical to civilization. Over thousands of years, architects and construction specialists have put a lot of time and effort to design, build & perfect houses, factories, hospitals, farms and more crucial infrastructure that humanity now relies on. New buildings also create vivid cities with engaging amusements, business offices, new work placements, and more places to live. With time, those buildings create the culture …
While starting or running a construction business, financial management is critically important for business owners and managers. While everyday business decisions are made, it is imperative that cash flow, profit, financial statements, investment opportunities, etc. are carefully analyzed. Financial managers ensure tight financial control, make precise calculations of the capital required for the company, form the capital structure, allocate profits, and manage money efficiently. Why is financial management a necessity in every construction business? 👉 …
Projects in the construction industry can be compared with a sea of multiple and constantly changing, moving parts. Being a subcontractor or specialty contractor, whether you are able to complete projects within budget and on time totally depends on high-level collaboration. That is why collaboration between the office and field workers becomes absolutely crucial for the overall success of a project. In today’s construction business world you need precise and up-to-date information. This is important …
Accurate, real-time project data is vital when tracking materials status, managing time, and doing other duties during the whole project cycle. Having this insight, you can make smarter strategic decisions that will bring benefits to the completion of your project, and the overall business. On many occasions, running an organization with disconnected teams can result in delayed project updates, duplicated data entry, a higher risk of errors, and unnecessary costs. Choosing the right construction accounting …
Construction companies, such as general contractors, subcontractors, home builders, land developers, and others always rely on certain measurements to track business activities, general performance, document successes and help direct management decision-making. These measurements, commonly called Key Performance Indicators (KPI), can assist with running the business and enhance performance in new construction and tenant improvement, real estate development, custom and production home, multi-family and mixed-use, or commercial projects. Key Performance Indicators are often located on an …
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In today’s rapidly changing world, technological developments play a major role. New devices, intuitive software, and various intelligent tools help us make our lives easier and more flexible. Novel and updated technology are especially important in the construction business environment because it is the only way to stay way ahead of the competition and generate solid revenues. One such innovation is mobile devices, which are now nearly ubiquitous in the workplace and at construction sites. …
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Project accounting is a key component to maintain control over your budgets and resources, provide accurate billing, and establish the profitability of all your projects. Accounting is particularly important in project-based industries like construction: it helps to give accurate estimates, manage time & resources, generate billing, and determine if the project is profitable. Ensure profitability for your projects using the right project accounting tools. Discover 5 best practices in project accounting: 1. MANAGING SCOPE CREEP …
Project Accounting: 5 Best Practices for Contractors Read More
Legacy ERP systems struggle to adapt to today’s quickly changing business environment. As a result, companies have to pay large IT costs for one-off integrations and expensive customizations to account for lack of functionality. Meanwhile, modern ERP applications, like Ujimatec, empower businesses and organizations with advanced financial features providing an integral system for growing companies. With Ujimatec’s software, your organization will experience a large variety of benefits from the first day you are live with …
16 Ways Businesses and Organizations Grow With Ujimatec Read More