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Each construction company has its own unique financial playbook. The software you use, what data is pulled from them, and the formulas used on spreadsheets are all pieces of the unique, key workflow of the financial department.
The primary issue here is that these workflows are often time-consuming, difficult to keep track of, and riddled with room for human error and inaccuracies. It also makes the process of hiring new talent incredibly difficult, as each new employee has to learn the ins and outs of executing the company's unique financial process.
In an era of automation and AI, this shouldn’t be happening anymore. When you incorporate automation into your business model, the benefits cascade across all areas of the company. Whether it’s benefits like accuracy and efficiency, or advantages like employee engagement, when it comes to automation, you can’t go wrong.
Briq’s platform offers an intuitive system that does all the mundane, heavy lifting for you. We automate your playbook and make the execution as easy as a few clicks.
Let’s talk about the importance of an automated cross-platform playbook in construction, and the critical areas of your business that will see the most growth when you implement this technology.
Turn a financial goose chase into an automated roadmap
Financial professionals in the industry usually have to switch between two jobs. One is the job of creating reports, analyzing information, keeping track of the budget, and the typical number crunching associated with their role. Their other job is being the number chaser, calling and emailing managers and clerks to find one document or the other, while keeping track of an extensive game of telephone to get the information they need to do their job.
Financial professionals were hired primarily for their analysis, so why not let automation do the work of chasing the information?
By implementing Briq, the information, spreadsheets, and documents your financial team needs to create a report will already be available at the push of a button. Our product will prompt the relevant employees to enter key information as soon as they get them, so your accountants don’t have to go hunting for receipts. Instead of asking for the same documents for every project, an automated workflow makes it so that those documents are uploaded and organized into the relevant systems as soon as they’re created. They’re inputted into the formats and compiled into the same standard reports your professionals are already creating.
Why not let automation do the work of chasing the information?
With an automated playbook, everything from project initiation estimates, budget setup, and synchronized change orders are created without your employees needing to do more than clicking a button. The data is taken, consolidated, and run through the proper systems until it ends in the output your financial professionals use to analyze the business. It gives them a financial roadmap to the flow of information and results, putting an end to the goose chase.
Eliminate redundancies and improve accuracy
Ask any construction finance professional how many times they enter the same number into a different platform on a daily basis. You’ll probably see their face drop as they give you some mind-boggling number of repeated entries. Not only is it tiring and immensely time-consuming to move data from platform to platform, but each new entry creates an opportunity for human error. These employees are inputting the same data set so many times back to back, that it’s almost inevitable that they’ll miss a digit and cause a cascade of errors that need to be corrected.
Briq does it for you.
An automated playbook will take that load off their shoulders. It takes the dedicated process your financial professionals prefer to use and turns it into an automated system. Instead of paying for individual connectors between software, or using an obscene amount of manpower to communicate between decades-old software, Briq does it for you.
Automation will replicate the data collection and entry process your accountants perform down to the keystroke. They’ll be able to control what gets pulled from what website, when it will happen, and to what cloud-connected spreadsheets they’ll go into. Instead of reaching out to each system manually, your financial employees will only need to decide on a standardized process once. After that, the automation takes care of all the entry and recovery work, giving them more time to analyze and deliver their financial results. No more repetitive entry, less room for human error, and a whole lot of time saved.
Improving employee engagement and onboarding
In construction, labor management is one of the most important aspects of running an effective business. Whether it’s on-site construction workers, managers, or financial professionals, having the right amount of manpower for the job is essential. That’s why it’s hugely problematic that construction finance has a major barrier to entry: the onboarding process.
If you get the top CFOs of each construction company in a room to discuss a top-down review of how they do their work, every one of them would be flabbergasted by the other. It may as well be number wizardry to an outsider. This means that when you onboard an employee, they’re going to need to spend an immense amount of time learning the software, memorizing logins and email addresses, mastering spreadsheet formulas, and creating a wall of sticky notes to do their job. All of this comes at the expense of the company, and likely the time of their direct supervisor.
Briq’s platform offers an intuitive system.
With an automated playbook, onboarding becomes easier than ever. Instead of memorizing ten logins, they only need to remember one and know which labeled bots to click on. Instead of trying to memorize an explanation of where the documents are located and who has what, they can click on a screen and see exactly who is responsible for what, and what trail the information follows. The time it takes to onboard a new employee and the learning curve required are drastically reduced.
At the same time, the employees that you have today will feel more engaged with each other and comfortable at their job, reducing turnover. They’ll get to spend more of their time doing the analysis, and planning that they came into the career for. Instead of tolerating hours of double data entry, triple-checking a spreadsheet, and logging into outdated software with harsh loading times, they can take a massive sigh of relief as the completed data sets are already there, ready for them to use.
Automation is the answer
Whether it’s practical issues such as accuracy, efficiency, and timeliness, or employee morale issues like eliminating the mundane, increasing engagement, and improving productivity, automation is the answer. The key to eliminating the disorganized haze of construction finance is creating an automated playbook that everyone can understand and work with. Have all your employees play by the same standard for better workflow and communication. Briq is here to help you create that playbook and make sure it's suited to your specific needs. Our financial automation platform helps you do your finances your way.
So what are you waiting for? Contact us now to try out a demo and see the prologue to your playbook.