How small construction companies can embrace new technology

Today’s technology enables a construction company to outpace their competition. With the support of project management software, smart devices, drones and similar innovations, a crew can complete their projects with a high degree of productivity. They’re able to meet and exceed client expectations.

Unfortunately, many of the technologies on the current market are outside the price range of a small business owner. They can’t always afford the latest and greatest, and these limitations keep them from reaching their full potential. A small budget is often restrictive and potentially harmful to a company’s growth.

Then again, it’s possible to enjoy the benefits of new technology without making a substantial investment. A business owner can take a strategic approach, making the most of their available resources as they carefully manage their money. In doing so, they’ll ensure their present and future success.

With that in mind, here are a few insights for small construction companies that want to embrace new technology.

Start with something small to reduce costs

Some of the most effective technologies for construction projects are also some of the most mundane. A drone may seem appealing, of course, but it’s not always the best option for a small business owner who wants to invest in today’s technology. Project management software is a far better starting point.

Through project management software, a company can improve their transparency, accountability and efficiency. The software itself offers real-time communication, trackability, and a project overview to simplify management and streamline the construction process. The results are often impressive.

Of course, the implementation of the software may take a commensurate investment, but it’s worth the cost. A small business owner will boost productivity, experience fewer setbacks, reduce risks and complete projects on time—benefits which allow them to increase their profits and grow their company.

Save capital by renting high-tech equipment

A small business owner doesn’t have to purchase equipment if they’re hoping to expand their fleet. They have an alternative course of action which will save them money and provide the same advantages. More specifically, they can rent their construction equipment, particularly if they need machinery with a predicted utilization rate below 60 percent.

When a small business owner chooses to rent specialized equipment, they lower their expenses, delegate their maintenance responsibilities and reduce their storage needs. They also gain access to the latest technology. Rental companies stock an inventory of high-tech equipment, and it’s available for companies with a limited budget.

The decision to rent has long-term benefits as well, enabling a construction company to save capital for future investments. They won’t have the financial burden of owning equipment they can’t afford, freeing up their money to spend elsewhere. Beyond these advantages, they also gain a better grasp of today’s tech.

Support employees to ease the transition

The construction industry and digital technology have a complicated relationship. Outside of smartphones, construction executives and even employees have shown a small amount of reluctance around modern systems and software. This traditional mindset remains an issue, even with modern trends in construction.

Companies of all sizes may find it difficult to integrate new technology with this aversion to change. Fortunately, business owners can take steps to mitigate the issue by training their subcontractors and employees. When the workforce understands the technology, they’re more likely to adopt it without complaint.

Business owners should also provide support after training has concluded. They can’t leave an employee to work out the details of a device on a job site, as they might forget how to use it. While it’s true that technology has transformed the construction industry, it’s an ongoing process.

Construction technology for small firms

Today’s technology enables a construction company to outpace their competition, but it isn’t as simple as buying the latest solutions and expecting them to function. A small business owner with fewer resources needs to take a strategic approach to their investments, both in purchase and application.

In other words, they have to evaluate their options and prepare their workforce for the changes. Only then can they enjoy the full range of benefits of project management software, smart devices, high-tech equipment and other innovations. As stated earlier, the industry’s transformation is ongoing.

With that in mind, small business owners should apply the insights above and move forward with confidence.

(Featured image by DepositPhotos)