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Labor and equipment shortages, change orders, and slow reporting can all affect profit in construction. And let’s be honest — that list doesn’t scratch the surface of the potential challenges you may face in the day-to-day working in the construction industry. How can companies stay ahead and make themselves agile enough to sidestep or at least predict many of these hurdles? The right technology can help to course correct when the unplanned rears its ugly head.
In this case, we’re talking about Briq’s automation platform — made-for-construction technology that connects your finance team to every other department in your company. With Briq, there is no question of how a job is performing or the status of your cash flow — the information is there in real time. Read on for three ways automation will improve your business.
1. Fewer errors
Automations remove the potential for human error from your processes and increase the accuracy of the vast quantity of data that moves through your business. When working with multiple suppliers on multiple jobs, the potential damage an extra zero or incorrect information can mean when closing the books is enormous.
Essentially, automating time-consuming and repetitive data entry eliminates the number of touchpoints needed to complete these processes. By lessening the amount of manual labor required, you lessen the potential for human error. Briq’s automation bots only replicate the action as they are programmed to do — there is no choice, fatigue, or distraction to cause them to make mistakes.
2. Quicker responses
Once a process is complete, you can automate a response alerting a person (or another system) to take action. Automation bots complete this in real time, streamlining frequent and repeated processes, so there is no need to wait for human intervention to keep a workflow moving. Briq’s automations keep workflows moving 24/7 so your business is always running and optimizing.
Overall, your processes are more efficient with automations meaning tasks that could take weeks now take days, and your overall output increases. In addition, tasks that cost your employees’ time are handled with technology easing the burden of repetitive day-to-day work and allowing your team to have the time and energy to respond to more strategic work.
Quicker response times will help improve your business relationships. With invoices being paid automatically and money workflows moving day and night, your business partners, suppliers, and employees — people who rely on timely payments and paperwork — will be impressed by the tight ship you’re running.
3. Better insights
Automation improves the accuracy and timeliness of your data. With access to better information, business decisions are based on fact over gut feeling. Briq allows you to unify data from all your systems, across departments, to paint the most accurate picture of your financial health. Now, your finance team can pivot and respond quickly to change orders and other unplanned events mitigating risk and responding with more agility.
With automation looking after much of the heavy lifting, your team can analyze project performance, make better business decisions, and identify new growth opportunities. Better insights come from access to the most accurate, timely data and the ability for your team to spend more time analyzing it.
Automating your business is not about generating data. It is about using the optimal tool to help you build and review the most accurate financial picture of your business. Automation is the way forward for the construction industry. As jobs become more complex and more and more data is stored in your systems, automating processes is the best way to ensure you are getting the most out of the information you have at your fingertips. Speed up your financial processes with automation, and you’ll soon see what your business can achieve.
Want to learn more about what Briq could do for your business? Book a call to talk to our experts today.