Automated solutions changing the face of construction industry
Tally Solutions explores how automation and technological innovations are disrupting the construction landscape
The construction industry remains one of the fundamental economic sectors globally. The industry is teeming with immense growth opportunities for all players, with its value, as per Research and Markets, seen hitting the $10.5tn mark by 2023.
The scene is no different in the UAE, where the sector is forecasted to reach $101.2bn by 2023, according to a separate study also conducted by Research and Markets.
Automation and technological innovations have disrupted the construction landscape, bringing with them new prospects to increase a firm’s profitability level as well as enhance its efficiency and productivity through streamlined processes.
With its many aspects being penetrated by next generation technologies, the construction community has begun recognising the importance of understanding the role and impact of these modern tools.
It has appreciated, in particular, the significance of adopting automated business management software to help them digitise manual and repetitive tasks and processes. Freeing employees from time-consuming functions enables the team to work on other more crucial elements for business growth.
Automating monotonous functions is especially vital as employees in construction firms, as per an online article, spend 35% of their time on non-essential tasks, time that could have been utilised in other duties and responsibilities. Technological innovations can be of great assistance here by performing back office jobs smartly and quickly.
Automation of processes, for one, results in easy access to real time data as the information is collated and kept on a single platform.
This information can be managed and quickly shared for improved collaborations between departments, allowing them to complete their tasks faster.
The smoother flow of information and ease in collaborations help promote enhanced teamwork and fast track the realisation of the set business goals and objectives.
Another benefit is more streamlined account maintenance, accounting processes, payment procedures, and other related time consuming paperwork and functions.
This saves time and cost, ensures accuracy, and helps achieve higher back office efficiency. Automated accounting solutions help eliminate human errors, that are a common occurrence in the traditional accounting system, thereby saving money. Doing the task right for the first time prevents wasted effort and time correcting mistakes that can easily be avoided through automated solutions.
With automation, a construction firm not only avoids the tedious process of re-entering information several times but, more importantly, it ensures that no critical data is lost.
Further, attaining transparency and accountability is highly achievable if one is working within an automated environment thanks to the modern features of an advanced business management software.
Through this technology, for instance, a construction firm can better track their cash flow, financial book and have a clear picture of their inventory among others. All changes or transactions done within the automated system are recorded and retained for better checking and monitoring.
A significant improvement in work performance and high efficiency and productivity, among others, are attained as well as improved decision-making processes thanks to easy and fast access to real-time and accurate data.
Finally, with better and faster processes and procedures and fewer-to-no errors, a construction firm can deliver more superior customer experience and satisfaction, giving the organisation an unprecedented edge over its competitors.
Technologies have transformed the construction industry, making the entire community more automated and efficient and in tune with the needs of the times.
As technological innovations continue to change business operations in general, construction companies should also make the transition accordingly.