Archive September 8, 2021

You could run your Contracting Business on Excel Alone!

While the use of SME accounting software has become widespread in the construction and contracting industry, it is inevitably supplemented with a proliferation of Excel. The drawbacks of this approach are decentralised storage, loss of productivity when things are hard to find and the risk of expensive oversights such as variations not being charged.

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What does 2021 Hold In Store?

Many industries used to gradual change were poorly positioned for the firehose of disruption that 2020 delivered. Faced with the challenges of rolling COVID 19 lockdowns, companies have been quick to adopt technology facilitating virtual meetings, and online access. But there is still a recognition by many that they’ve become bloated, resistant to change and vulnerable to competition.

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Is there a Silver Lining in the COVID-19 Cloud?

It was recently reported that during the recent COVID restrictions, Australian companies have “progressed technologically more than five years in the space of the past eight weeks”.

No doubt this refers to the rapid embracing of online teleconferencing platforms, such as ZOOM, by business, educators and at a social level, in response to efforts by government to reduce physical interaction and contain the virus.  However, it has also stimulated interest in online tools generally to improve work processes and access to information.

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Teamwork in Construction – 24/7 Access to Project Information

A recent survey of 260 Australian construction companies found that 62% believed they could increase their profitability by introducing new technology. The same proportion of companies believed that they could become more efficient if they communicated better across their business including sub-contractors and worked more closely with them to ensure best practice.

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The majority of Australian Construction Companies are still facing the same construction management issues…

A recent survey of 260 Australian construction companies highlighted that, other than COVID19, the challenges they face have changed very little in the last few years.

  • More than two-thirds of companies still rely on paper or spreadsheet based records, even though they recognise the potential to reduce costs significantly with better data capture.
  • Rework and project overruns still represent the major impediments to productivity, taking up 20% of productive time.
  •  Improving communication both internally and with sub-contractors also presents a significant opportunity to improve efficiency.

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Are we getting closer to real Work Life Balance?

As businesses around the world start to plan for the economy to open for business, post Covid 19, it is clear that some things will be changed for ever. A recent article  in the New York Times noted that executives at New York’s three largest commercial tenants, Barclays, JP Morgan Chase and Morgan Stanley, have decided that it is highly unlikely that all their workers will ever return to their buildings. So they would no longer need to be in the office full time and can instead work from home most of the week.

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The Future Starts Today

Many businesses around the World have been forced to change their processes as they implement steps to reduce the chance of infection with Covid19.

At IPM the travel ban forced our Technical Team to cancel upcoming consulting commitments in New Zealand and as Australian States shut down their borders, the same was true for Darwin in the Northern Territory.

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Consolidation – Making it Easy

I recently spoke to a client representing a group of companies engaged in specialist construction and field service, with multiple state-based subsidiaries, requiring a construction management solution. Each company uses a different iteration of a popular online accounting product, and individual directors favour different scheduling tools.

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