What is Construction Technology?

The Construction Industry Association defines construction technology as a collection of innovative equipment and software used during the construction phase of projects. This allows the advancement of field construction technologies and semi-automated and automated construction equipment. We might go further and add preconstruction technology such as a web-based bid management platform and an online bid management app. The building industry is rapidly undergoing development.

We understand that the construction industry faces unique challenges, such as project costing, financial management, cybersecurity and reliable Wi-Fi capabilities. Our cutting-edge technology solutions are specifically designed to address these challenges, helping you achieve your goals more efficiently and effectively than ever before.

Construction companies today face numerous challenges. Evolving construction methods, like modular construction, managing complex workflows, maintaining efficient communication channels, and ensuring cybersecurity. Fortunately, technology solutions have emerged that can help overcome these obstacles and streamline operations.

6 Types of Construction Technology Solutions That Will Be Used in the Future

The engineering sector is expected to grow from 69 percent to 80 percent by 2024, according to the report released by Deloitte. The latest in construction technology helps businesses to streamline digital transformation. Modernizing the way you operate is an important decision to make. When building a company, the best way to stay competitive will be to implement new approaches into its processes and plans.

Cybersecurity

With more construction companies relying on technology, cybersecurity is a growing concern. Companies need to implement robust security measures to protect sensitive information and prevent cyber-attacks. This includes firewalls, antivirus software, and regular security updates.

Workflow and Project Management Solutions

Construction companies need software that can help them manage complex projects with multiple tasks and deadlines. Workflow and project management software allows for efficient collaboration, document sharing, and progress tracking, allowing project managers to stay on top of their projects.

Augmented & Virtual Reality

Training of operators is a major area where Virtual Reality (VR) has the possibility to affect the construction industry. VR allows employees to experience confined, safe and controlled environments and even work from the top in crowded areas.

VR simulators have been used to train soldiers, pilots, and surgeons for decades. They can now be used in similar ways to train construction workers. VR is also able to assist in all sorts of jobs – from working with a crane to excavating to welding. Augmented Reality (AR) is another technological innovation that can improve building safety.

Wi-Fi Capabilities and Work from Anywhere

Construction workers are increasingly relying on mobile devices and laptops to access project data and communicate with colleagues. A strong and reliable Wi-Fi network is crucial to ensure that workers can access data and communicate in real time. Construction companies can benefit from remote working capabilities, allowing team members to work from anywhere and stay connected.

Artificial Intelligence & Machine Learning

Artificial Intelligence (AI) is the power of computer systems to learn from past experiences and data analysis. Both AI and machine learning are enormously relevant to building projects where intelligent decision-making can be highly productive and efficient. Machine Learning will impact every aspect of any building project from planning to completion.

Building Information Modeling (BIM) Software

BIM allows users to collaborate more effectively since each person and expertise can use a single piece within the same model. This means that a business model will evolve immediately with each participant, ensuring efficiency and simplifying processes. A BIM solution also provides trouble-solving in the design and planning stage. In recent years the global government introduced the BIM requirement in tens of thousands of facilities in India.

What are 5 construction technology trends?

Finance: Construction companies require effective financial management to stay on top of their accounts payable and accounts receivable. Implementing finance software solutions can automate invoice processing and payment, reducing the risk of errors, and speeding up payment times.

AP/AR Automation: Automating the accounts payable and accounts receivable processes streamlines billing and payment processes and ensures that invoices are processed and paid quickly and accurately. This type of automation software also allows for real-time monitoring of financial transactions, reducing the risk of fraud.

Data Collection Apps: Apps are now more prevalent in building, and with good reason. Mobile technologies like phones and tablets offer greater mobility as well as better connectivity. Data Collection Apps provide a way for building businesses to collect accurate and faster data on their site. Integration of this technology into your existing process may be straightforward, with minimal initial costs but still provides substantial benefits.

Construction Wearables: Construction Wearables provide several advantages for increased productivity and can also be adopted quickly, particularly because they offer safety features. Construction is viewed as an industry with high accidents causing deaths and serious injuries every single year.

Wearables already offer the potential to increase workers’ safety and potentially reduce accidents in the manufacturing sector. Some construction wearables are available in the market today. Others, such as watches, monitors, or goggles, help increase workers’ protection and reduce fatigue.

Construction Robots: Construction Robots do not yet control the industry, though they’ve come up with numerous plans. As the industry looks to find a solution to deal with labor shortages and social distancing, robots may play a larger part. Drones are now widely available on construction projects and they are doing work that would otherwise be costly.

The construction industry is rapidly evolving, with new technologies emerging every day to help companies stay competitive and streamline their operations. One of the most important technologies for construction companies is ERP, or enterprise resource planning. ERP solutions allow companies to manage their entire business operations in one centralized platform, from project management and inventory control to financial management and human resources. By implementing an ERP solution, construction companies can improve their efficiency and productivity, reduce costs, and make more informed business decisions.

Additionally, process automation can help construction companies eliminate manual, repetitive tasks and focus on more value-added activities. Managed IT services can also be beneficial for construction companies, providing 24/7 support, ensuring that their IT systems are secure and up-to-date, and allowing them to focus on their core business activities.

Cloud computing and cloud backup are also essential technologies for the construction industry. By leveraging the power of the cloud, construction companies can access their data and applications from anywhere, at any time, on any device. Cloud backup can also help companies protect their critical data from loss due to natural disasters, cyber attacks, or other unexpected events.

Business phone systems can also be an important technology for construction companies, allowing them to communicate more effectively with their clients, vendors, and team members. With features such as call routing, voicemail, and conferencing, business phone systems can help construction companies improve their customer service, collaboration, and productivity. Overall, by embracing the latest technologies, construction companies can stay ahead of the curve and achieve greater success in a rapidly changing industry.

At LBMC, we’re dedicated to providing you with the technology solutions you need to succeed in the construction industry. Our expert team is committed to providing exceptional service and support, ensuring that you get the most out of our technology solutions. Contact us today to learn more about our technology solutions and how we can help your business thrive.

Managed Services for Construction

Running a construction company is no easy feat. There are several moving parts that need to be managed effectively to ensure everything runs smoothly. From managing employees to handling finances, there’s a lot to take care of. That’s why managed services have become increasingly popular in recent years. Managed services are a great way to outsource some of your business processes and focus on what really matters – growing your business. In this article, we’ll take a look at the top 5 managed services for construction companies that can help you simplify your operations and boost productivity.

Top 5 Managed Services for Construction Companies:

1. IT Managed Services
2. Accounting, Finance and ERP Managed Services
3. Cybersecurity Managed Services
4. Phone System Managed Services
5. Document Management Managed Services

The construction industry is rapidly evolving, and technology is playing a more significant role in the day-to-day operations of construction companies. With an increase in data-driven decision-making and the need for advanced technology to optimize business processes, construction companies are looking for ways to manage their technology requirements effectively. Managed services can provide an efficient solution for construction companies to outsource certain business processes and focus on their core operations. In this article, we will discuss the top 5 managed services for construction companies.

1. IT Managed Services for Construction Companies

With the advancement in technologies like jobsite WiFi, remote access needs and ongoing technology advancements, IT managed services are a popular choice for construction companies. IT managed services can include the management of hardware and software systems, network security, data backup, and disaster recovery. Leveraging an MSP for IT managed services can help construction companies stay up-to-date with the latest technology trends, and minimize the risks associated with technology-related downtime. By leveraging an MSP for IT support, construction companies can ensure that the technology infrastructure is always up-to-date and functioning correctly, allowing business leaders to focus on their core business operations. In today’s digital age, having a strong IT infrastructure is crucial for any business. However, managing an IT infrastructure can be a daunting task, especially if an organization doesn’t have the expertise needed to maintain the systems appropriately. That’s where IT managed services come in. By outsourcing IT management, leaders can ensure that systems are running smoothly without having to worry about managing them internally. IT managed services can help with:

• Network Management: A company’s network is the backbone of your IT infrastructure. Managed service providers can monitor and maintain the company’s network, ensuring that it’s always up and running smoothly.
• Data Backup and Recovery: Data loss can be catastrophic for any business. Managed services providers can ensure that data is backed up regularly and can quickly recover it in the event of an outage or disaster.
• Cloud Services: Cloud services can provide a flexible, scalable, and cost-effective solution for storing and accessing your data. Managed service providers can help choose the right cloud solutions for the business and manage them post deployment.
• Help Desk Support: When internal employees have IT issues, they need help fast. Managed services providers can offer help desk support, providing employees with the assistance they need to get back to work quickly.

• Cybersecurity: Cyber threats are a growing concern for businesses of all sizes. Managed service providers can provide robust cybersecurity solutions, such as firewalls, antivirus software, and intrusion detection systems, to protect a company’s sensitive data.

By outsourcing IT management, business leaders can focus on your core business operations and leave the technical aspects to the experts.

2. ERP and Finance Managed Services

ERP and finance managed services are essential for construction companies that need to manage their finances and accounting. Enterprise resource planning (ERP) systems can help construction companies streamline their business processes by integrating multiple systems into one platform such as automate accounting, inventory management, project management, and human resource management, among other things. Finance managed services can provide assistance with bookkeeping, tax preparation, payroll, and financial planning. By outsourcing these services, construction companies can focus on core business operations while ensuring their finances are managed efficiently. ERP Solutions and ERP Managed Services for construction companies can include:

• ERP Software for job cost accounting, project billing, progress billing and AIA billing requirements

• Accounts payable and Account Receivable automation
• Financial analysis and reporting

3. Cybersecurity Managed Services

Cybersecurity is a growing concern for construction companies, as the industry is increasingly becoming a target for cyber-attacks. Cybersecurity managed services can provide construction companies with the protection they need to minimize the risks associated with cyber threats. This service can include network security, email security, data encryption, vulnerability assessments, and threat detection and response. By outsourcing cybersecurity management, construction companies can have peace of mind knowing their data and technology infrastructure is secure.

4. Managed Phone Systems and Telecom for Construction Companies: Phone System Managed Services

Construction companies rely on communication systems to stay connected with their clients and employees. Phone system managed services can provide construction companies with a reliable and scalable communication system. This service can include the management of phone systems, video conferencing, call routing, voicemail, and call recording. Phone system managed services can ensure that communication systems are always functioning correctly, allowing construction companies to maintain high levels of productivity and collaboration.

For companies, outsourcing aspects of business phone systems like installation and configuration, maintenance and upgrades, technical support, and security and compliance can help companies ensure that their phone systems are always functioning optimally, secure, and compliant with industry regulations. This can help companies stay competitive, reduce costs, and improve customer service. Some examples of Phone Managed Services for Construction Companies include:

• Meetings as a Service (MaaS) MaaS is a cloud-based service that provides companies with an all-in-one platform for organizing and conducting meetings. With MaaS, construction companies can schedule, host, and attend meetings from anywhere, using any device. MaaS platforms usually offer features such as video conferencing, screen sharing, and virtual whiteboards, which can help teams collaborate more effectively, even if they’re in different locations.
• Devices as a Service (DaaS) DaaS is a service that allows companies to outsource their device management needs to a third-party provider. This includes hardware procurement, configuration, maintenance, and replacement. For construction companies, DaaS can be particularly useful for managing devices such as smartphones, tablets, and laptops, which are essential for field workers who need to access project data, plans, and communication tools on the go.
• Unified Communications as a Service (UCaaS) UCaaS is a cloud-based service that integrates various communication channels, such as voice, video, messaging, and email, into a single platform. With UCaaS, construction companies can provide their employees with a unified communication experience, regardless of their location or device. This can help improve communication, reduce delays, and increase productivity.

5. Document Management / Content Management Services

Construction companies deal with a large amount of data and documentation, including drawings, blueprints, contracts, and invoices. Document management and content management services can help construction companies manage their data effectively. This service can include the management of documents, digital archives, version control, and access control. By outsourcing document management and content management, construction companies can ensure their data is organized, secure, and easily accessible. Managed Enterprise Content Management (ECM) and Contract Management are two critical areas for construction companies that can benefit greatly from outsourcing to a managed services provider.

• ECM is the process of managing and organizing content throughout its lifecycle, from creation to disposal. Construction companies generate a significant amount of documentation and other content during the course of their projects. This content includes drawings, blueprints, contracts, invoices, and other important documents. With a managed ECM service, construction companies can streamline their content management process, ensuring that all content is properly categorized, stored, and easily accessible to those who need it. A managed ECM service can also help construction companies comply with regulatory requirements and improve their overall operational efficiency.
• Contract Management is another critical area for construction companies. Construction projects often involve numerous contracts, including those with subcontractors, vendors, and clients. Contract management involves the creation, negotiation, execution, and ongoing management of these contracts. A managed contract management service can help construction companies to streamline their contract management processes, ensuring that all contracts are properly executed, tracked, and managed. This can help to reduce risk and improve overall project outcomes.

By outsourcing ECM and contract management services to a managed services provider, construction companies can benefit from the expertise of professionals who specialize in these areas. A managed services provider can help construction companies to develop customized solutions that are tailored to their specific needs and can also provide ongoing support and training to ensure that these solutions are implemented effectively. This can help construction companies to focus on their core competencies while leaving the management of their ECM and contract management processes to the experts.

Managed services can provide construction companies with the support they need to manage their technology infrastructure and focus on core business operations. IT managed services, ERP and finance managed services, cybersecurity managed services, phone system managed services, and document management and content management services are essential for construction companies that want to optimize their technology infrastructure. When selecting a managed service provider, construction companies should ensure they choose a trusted and reliable partner that can tailor solutions to meet their specific needs. With the right managed services in place, construction companies can stay ahead of the competition and thrive in today’s fast-paced business environment.

As a construction company, you know that managing all aspects of your business can be overwhelming. From project management to accounting, human resources to IT, there’s a lot to handle. That’s why managed services can be a game-changer for your business. While there are many benefits to leveraging managed services for construction companies, we’ve outlined the top 5 benefits of managed services for construction companies:

1. Increased Efficiency and Productivity: By outsourcing IT and other business processes, executives and business leaders can free up time and resources to focus on core competencies of the organization. This can result in increased efficiency and productivity, as it allows internal team can focus on what they do best.
2. Cost Savings: Managed services can often help reduce costs by eliminating the need for in-house IT staff and infrastructure. Instead, by paying a fixed monthly fee for the services needed, companies can better manage the technology budget.
3. Scalability: As businesses grow, so can their managed services. Businesses can easily add or remove services as needed, without having to worry about hiring and training additional staff.
4. Enhanced Security: Managed service providers have extensive experience in cybersecurity and can provide robust security solutions to protect your sensitive data.
5. Proactive Monitoring and Maintenance: Managed services providers proactively monitor IT infrastructure and perform maintenance tasks to prevent downtime and minimize the risk of data loss.

Managed services can be a game-changer for your construction company. By outsourcing IT and other business processes to a third-party service provider, businesses can increase efficiency and productivity, reduce costs, and enhance security. Whether you need network management, data backup and recovery, cloud services, help desk support, or cybersecurity solutions, there’s a managed services provider out there that can help you optimize your business processes.

Now that you understand the benefits of managed services for construction companies, it’s time to take a closer look at how to maximize those benefits. Here are some tips for optimizing your managed services:

1. Choose the Right Provider: Not all managed service providers are created equal. It’s important to choose a provider that has experience in the construction industry and can offer customized solutions to meet your unique needs. Look for a provider that has a proven track record of success and can provide references from other construction companies.
2. Define Your Needs: Before you choose a managed services provider, it’s important to define your needs. What services do you need to outsource? What are your priorities? By clearly defining your needs, you can choose a provider that can meet your specific requirements.
3. Develop a Strong Relationship: Managed services providers are more than just vendors – they’re partners. It’s important to develop a strong relationship with your provider, based on trust, communication, and collaboration. This can help ensure that your provider fully understands your business processes and can provide the best possible solutions.
4. Establish Service Level Agreements (SLAs): Service level agreements (SLAs) are contracts that define the level of service you can expect from your managed services provider. SLAs should include metrics such as uptime, response times, and resolution times, as well as penalties for non-compliance. By establishing clear SLAs, you can hold your provider accountable and ensure that you receive the level of service you require.
5. Monitor Performance: It’s important to monitor your managed services provider’s performance to ensure that they’re meeting your SLAs and delivering the expected benefits. This can involve regular reporting, performance metrics, and regular meetings with your provider to discuss any issues or concerns.

By following these tips, you can maximize the benefits of managed services for your construction company. But remember, managed services are not a one-size-fits-all solution. You may need to experiment with different providers and services to find the right fit for your business. The key is to stay flexible, open to new solutions, and committed to continuous improvement.

Managed services can be a powerful tool for optimizing your construction company’s business processes. By outsourcing IT and other business functions to a third-party provider, you can increase efficiency, reduce costs, and enhance security. But to maximize the benefits, you need to choose the right provider, define your needs, develop a strong relationship, establish SLAs, and monitor performance. With the right approach, managed services can help take your construction company to the next level.

Common construction & specialty contractor business challenges:

• Excel-based consolidations and reconciliations are prone to errors and eat up valuable time, a lack of usable construction technology solutions
• Incomplete, delayed, or inaccurate visibility into the financial health of each project as well as across the entire business
• Metrics, budgets, and forecasts are no longer relevant by the time you get them
• Handling project complexity while minimizing overhead costs

Manual processes take effort and eat up valuable time. Working with a platform that doesn’t scale for your growth can be a hindrance, costing you overhead just to run in place. Take control of your construction sites and construction tech. With the right modern technology, successful construction companies can:

• Free up resources and improve productivity
• Be more agile and scale
• Make decisions with real-time visibility

Construction Technology Solutions

• Enterprise Resource Management (ERP) software
  • Cloud-based construction technology solutions with construction-focused accounting automated financial processes and real-time visibility and insights
  • Manage contracts (and subcontracts)
  • Artificial Intelligence (AI), and IoT-driven predictive automation
  • Accurate Project Cost Management of building materials & other project costs
  • Airo Mechanical Success Story with Sage Intacct for Construction
• Service Trade & Sage Intacct Integration
  • Helps commercial service contractors sync critical data between Sage Intacct and ServiceTrade for faster, more accurate accounting and better customer experiences
  • Easier and faster invoicing
  • Improve Cash flow
  • Gain better insights into your business
• ProFORM (AIA Billing for Sage Intacct) Software Solution
  • ProForm is a construction technology solution that is designed for commercial subcontractors, specialty trade contractors, and specialized service providers
  • Simplifies American Institute of Architects (AIA) Billing
  • Improve cash flow and operations
  • Track schedule of values
  • Automates retention
• IntegratorPlus (CRM & Sage Intacct Integration)
  • Streamline business processes
  • Eliminate manual re-entry of customer and order data
  • Improve operational efficiencies
  • Enhance sales and service effectiveness
• Customer Relationship Management (CRM) software
  • Identify, manage, and track prospect and client opportunities from source to close.
  • Manage sales relationships as well as customer service.
• AWS or Azure Cloud Platforms
  • Enable cloud-based services to quickly deliver innovative solutions, modernize systems, and back up valuable customer data.