How to Stay Competitive in the Current Economy

by John Meibers, President of ComputerEase
Current Issues

The current economy has created tough competition among contractors. Since construction is expected to rebound more slowly than other industry segments, the biggest challenge for construction business owners is figuring out how to weather the continuing economic storm.

Many contractors are bidding jobs at a loss just to keep work coming in the door. But this isnt the best survival strategy, since building a backlog of low-paying projects will leave you with limited resources when more profitable jobs return. A smarter approach is to cut costs, increase efficiency and downsize your staff to a core group of A-players. A great way to do this is with ProEst's superb contractor software.

 

Technology Trends

In construction, your A-players are the moneymakers who consistently get the job done on time and under budget. Keeping these people on your payroll, and giving them the tools they need to optimize productivity, is your best bet for enduring the rest of the recession.

Fortunately, the leading construction bidding software technology trends support this endeavor by increasing efficiency in the office and the field. Electronic document management systems and wireless field-to-office solutions are the newest technology tools to hit the construction industry, and they offer the greatest potential for helping contractors accomplish more with fewer staff.

If youre still using a generic accounting program or creating estimates using Excel, replacing them with integrated construction-specific software will also deliver immense productivity gains.

 

Staying Competitive

At ComputerEase, weve used the less-frenzied pace of the last few years to cultivate stronger relationships with our clients and to better understand their needs. Our most successful clients are taking a similar approach by using the slowdown to refine their internal business processes and put new technology in place that will help them to capitalize on the inevitable upturn.

 

Stimulus Benefits

While a number of commercial construction projects are still on hold due to financing issues, the infrastructure projects funded by the federal stimulus program have given many contractors a much-needed revenue stream.

But to compete in the government construction market, you need a strong construction estimating software tool, like ProEst, along with a strong accounting program that handles functions like Certified Payroll and AIA billing, which are well-developed capabilities within ComputerEase.

 

Looking Forward

Although 2010 will likely be another year of financial uncertainty, construction business owners that invest in their companys future by cutting costs and embracing technology have the greatest opportunity to survive the downturn and thrive during the recovery.

 

John Meibers is the President of ComputerEase Construction Software, a leading developer of accounting, project management and mobile field solutions for contractors. To learn more about ComputerEase, call 800-544-2530 or visit www.construction-software.com.

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