The development industry has entered the information age. That means a whole new generation of technology solutions are providing user-friendly access to job information from almost any device connected to the Internet. This includes “anytime, anywhere” visibility to budget spreadsheets, permits, change orders, blueprints and inventory from one centralized electronic file. Boosters even exist for ensuring WiFi connectivity in remote locations.

So with a few simple clicks, authorized personnel ranging from accounting staff to project managers can simply drill down to easily view job folder details. As a result, users no longer have to make rushed jobsite decisions without the facts, since entire project files are available instantly from the field or from the corporate office. That means no more guesswork.

That is all good news, right? The answer is “it should be.”

Unfortunately, many contractors tend to be creatures of habit, relying not only on tried and true building methods and procedures, but also antiquated planning, tracking and billing processes. Here’s why that’s a problem.

Paper is a tool of the past. Jobs that include notes from the field are nearly impossible to track in real time. It also is slow, inefficient and cumbersome to mail invoices, which are then stored in walls of filing cabinets. We now live in a world that demands immediacy, with little tolerance for delays.

Additionally, today’s contractors, builders and construction firms live in a highly litigious environment. Every error and omission, no matter big or small, can cost thousands, if not millions. This is particularly true when design/build methodologies are increasingly blurring the lines between professional responsibilities and facilitating design revisions throughout each project phase.

However, the thought of change is much harsher than reality for many individuals. They only remember the last failed experiment. But this is a different time. The latest, cutting-edge technologies have overcome yesterday’s challenges due to the ability to seamlessly integrate the project information collected from multiple departments and company personnel into one job file.

Think about it. What delays, costly budget overruns and possible litigation can be eliminated by cutting out project management and financial errors? What value can the transparency of electronic invoices containing the body camera imagery of inspections and repairs add? What better way is there to prepare against claims than with a detailed history of key data, timelines, plans and decisions captured in real-time during the entire construction lifecycle?

Today’s development-specific technology solutions – and technology partners – can help increase your firm’s competitiveness with solutions that enhance companywide efficiencies, enable the easy capture of in-depth project data for historical retrieval and analysis, and ultimately stimulate profits. It is time to grasp the future. Download our free “How to Build the Best Construction and Development Technology Stack” white paper here.