Running a construction enterprise is a multifaceted endeavour. With several construction sites scattered across different locations, ensuring timely delivery of purchased materials within budget becomes crucial for the profitability of a project. But if you’re using Excel for this purpose, you’re risking your project’s profitability, as errors often go unnoticed until it’s too late.
According to Market Watch, nearly 88% of spreadsheets contain errors. It’s hardly surprising given they are manually compiled. A minor manual error such as a misplaced decimal point can result in significant mistakes, costing your business a hefty sum. The effort that goes into identifying and rectifying these errors is a sheer waste of precious time.
Real-time data is indispensable when making multi-million dollar decisions. Unfortunately, Excel-generated reports don’t guarantee up-to-date information. A variety of damages can result from using Excel spreadsheets, including mistakes, double data entry, wasted time, and security issues.
In addition, management often struggles to verify the accuracy of an Excel-generated report or whether it’s been manipulated to present a rosy picture. Shuffling material budgets between columns, conveniently forgetting to record correct data, or being “too busy” to produce a report are common issues contractors face.
Contractors, you need to ask yourself: Is there a better way to manage your materials? Given that you:
- Can’t afford constant mistakes,
- Deserve a better tool,
- Have a team wasting over 50 hours monthly on Excel,
- Risk losing your data.
So, what’s the superior way to manage materials?
Opt for a cloud-based construction procurement software like Speedbrick COMPOSE, a dedicated digital procurement platform that collects information as your construction team uses it to monitor budgets, order materials, generate purchase orders, confirm delivery orders, and match invoices. All material records are updated instantly. This eradicates the risk of cut-and-paste errors. With everyone involved in purchasing having access to the same information, no one needs to worry about data accuracy or a newer version of spreadsheets stored on someone else’s computer. Management can trust the data to make informed decisions.
To gain an accurate overview of your company’s performance, it’s essential to harness business intelligence technology. Relying on a printed copy of Excel reports or scrolling through different spreadsheets is time-consuming, diverting your focus from decision-making. Furthermore, the data quality on spreadsheets is heavily contingent on manual entry. One single formula error can keep you busy identifying and correcting it. But with digital procurement platforms, finding vital information is a breeze. A few clicks, and you get to visualize real-time information.
Moreover, a digital procurement strategy eliminates the worries of a hard disk crash or computer virus. All your purchasing data is securely stored on remote servers with backups. Every action taken by your team has an audit trail, enabling you to know what was done, by whom, when, and why.
Construction projects can spend up to 70% of the contract value on material purchasing. One wrong buying decision can considerably slash the profits of your construction projects.
Switching to digital procurement can unlock:
- Real-time Data: informing you who buys what, why, and whether it exceeds the budget.
- Access: Stay connected with the procurement cycle wherever you are.
- AI Equip Digital approval: Make approval decisions backed by AI analytics.
- Efficient team: Reliable data empowers your construction team to act faster and better.
- Standard workflow: No shortcuts, enforce your company’s
standard.
The immediate benefits of digital procurement include:
- One platform to store all purchasing data: Never lose a document.
- Work from anywhere: Enable your team to work from anywhere with a digital platform.
- Audit trail: Record who did what, increasing accountability.
- AI processing: Identify and alert potential spending mistakes; intelligent capabilities guide business decisions.
- Visible supplier performance: Know how your suppliers perform at a glance.
Digitalization is the future, and it’s here now. Experience how technology can protect your financial health and keep you competitive.
Speedbrick COMPOSE is the cloud-based procurement software for construction that you need for your construction business.
What we do
We’re redefining the way your construction business orders materials with Speedbrick COMPOSE – an intuitive building construction software designed to digitize the entire procurement cycle. We aim to reduce blame games between sites and offices by getting all stakeholders on board on one common yet personalized construction management system.
Who we help
Specifically designed for contractors, Speedbrick assists construction businesses in saving money, time, and effort.
Why Speedbrick
Hear it from our users:
“Speedbrick is different from other software as they understand construction… I can see every information I need, I can make decisions faster. Now I have more time for myself.” said Mr. Ong Tien Ling, Director
“It’s a systematic way for me to work. After we use Speedbrick, my boss can know how much material is ordered and delivered. And whether we are within or exceeded budget. My boss now knows my work performance.” Mr. Tan Boon Chin, Site Supervisor
“It’s convenient, easy, I love it! I no longer make ordering mistakes. I can know how much was ordered and balanced. I know if we have exceeded budget. It’s all about money, we have to control our budget” Mr. Wong, Site Manager
“We run over 10 projects simultaneously, it used to be very difficult for us to monitor material. Now, I can easily pull out relevant data for reports and audit” Ms. Chua, Credit Controller
Get in touch with Speedbrick today for your absolutely free demo consultation service.
About Speedbrick Solutions
Speedbrick Solutions develops user-friendly construction software for contractors to do more with less. Currently, Speedbrick offers four products: procurement management, revenue management, subcontractors management, and business analytics dashboard.
Find out more at www.speedbrick.com.
See Speedbrick in action
Schedule a free demo with us to see how we have served projects worth more than RM13.2b, and achieved 99% client satisfaction along the way.