You know construction job costing is critical to your company’s success. What you may not know is industry leaders believe job costing is more crucial today than ever before.
Recent research shows that:
- Up to 60% of construction businesses have had projects postponed or canceled due to the coronavirus.
- In addition, the pandemic has resulted in greater material costs and lower availability of workers.
- That means accurate construction job costing may be the difference between survival and shutdown.
In fact, 75% of contractors say construction job costing is among their top concerns for their business. So there’s never been a better time to learn about and implement the right construction job costing software.
4 things you need in construction job costing software
When you’re trying to determine how to estimate construction jobs, costing is vital because it allows you to break down large projects into smaller, specific tasks. In the past, construction job cost accounting software might have consisted of multiple Excel spreadsheets; today, there are much better ways.
Look for construction job costing software that:
1. Streamlines estimates
Construction job cost tracking is only successful if the system does the heavy lifting for you. Look at how the software handles estimates and ensure the finished product can be easily exported in a format that clients can work with. This will help you create estimates and bids faster.
2. Tracks costs in real-time
Once a project is underway, the best construction job costing software will allow you to compare estimated costs with actual costs — in real-time. Use that data to identify areas where costs are escalating and root out the reason before the issue becomes unfixable. The ability to see these spikes at the very beginning — when you still have time to change purveyors, materials or your timeline — is crucial to success in the industry today.
3. Helps keep stakeholders informed
Change is inevitable in construction, so figuring out how to estimate construction jobs is essential. When you’re reviewing construction job costing software, look at how they handle change orders. Make sure the software provides space for your team to give detailed information about changes to labor and materials costs, so you have the information you need for your clients and your boss.
4. Works for people in the field
To estimate construction jobs properly, you need accurate information, and the only people who can give it to you are your foremen, supervisors and workers. Yet, contractors often say that getting information from the field is the most challenging part of construction job costing.
The fastest way to fix that? Find construction time and attendance software that your workers will use.
How Time Tracker streamlines construction time tracking
1. Allows crews to clock in on arrival to a jobsite
Time Tracker replaces your old punch clock with whatever technology is right for your company, whether that’s a mobile app or time cards. It’s ideal for construction sites because your crews can clock in, take breaks and clock out using their unique 4-digit pin. Plus, facial recognition will eliminate buddy punching.
2. Lets you see where your team is at all times
Time Tracker features built-in geo-tracking, so you can see where your crew members are in realtime and where they were throughout the day. You can also add a geofence radius, so entries can only be submitted when workers are within the boundary.
3. Gives you the tools you need — and none you don’t
Use Time Tracker for everything from distributing weekly schedules to tracking expenses by client or project. Or, if all you need is a time clock, simply use it onsite for employee time tracking.
Ready to try Time Tracker for construction job costing?
We’re happy to offer all construction companies a 14-day free trial. Sign up today.