Business Intelligence for Construction is On the Rise & It's Obvious Why Contractors Are Loving It
A Challenging Industry Warrants Sophisticated Tools
Considering contractors face ongoing high pressure to perform and operate with razor-thin profit margins, there’s no doubt: construction is a challenging industry. Each project carries a significant amount of risk including countless safety issues, stringent regulations or contractual obligations, weather delays, lack of qualified labor, subcontractor performance and inconsistent cash flows, just to name a few.
There has to be a better way! Many contractors experience data frustrations ranging from waiting on IT to build a custom report to trying to make a critical business decision without proper data.
Fortunately, the problem is not the data. But rather, how to turn the data into actionable intelligence that improves business performance. Spectrum Business Intelligencetakes data collected by the Spectrum ERP and provides an easy-to-use tool to segment and analyze that data virtually in any way users want. From in-depth reports to dashboards, creative charts, graphs and even geographical mapping of data, Spectrum BI puts the end user in the driver’s seat and takes away the headaches of trying to manually make sense of the mountains of construction data. It also reduces the burden of waiting for specialized reports from IT staff or external consultants.
But you don’t have to just take our word for it. Here are 6 reasons contractors have told us they love our Spectrum Business Intelligence tool.
1. Ease of Use
"Spectrum Business Intelligence is very intuitive and very easy to set up. I was surprised at how easy it was to use.” — Howard Dembs, CFO, W. Soule and Co.
2. Informed Decision Making
“It’s a lot faster. The ability to get the data you need to make decisions and get things done is so much faster now.” —J Brennan, Controller, O.C. McDonald
“I feel like it (Spectrum Business Intelligence) has opened up a whole new world for reporting.” — Howard Dembs, CFO, W. Soule and Co.
3. Convenient Dashboards with Accurate, Relevant Data
“We are really excited about being able to use the BI tools and have instant dashboards for management all the way down to the project manager and engineer on the job so that they can see exactly where their job is and be prepared if things start going off the rails, but then if things are going really well, understanding why it’s going well and doing it again on the next job.” —Patti Smith, Business Process Manager, Ideal Contracting
4. Reporting that Matters
“I’m really excited to be able to get some new reports for my owner and the president and vice president because right now they get month-end reports [that are] a month old. So, they’re a month behind with all their decisions. And now I can give them a lot more meaningful, current reports — even weekly reports on where we are at with [any given] job.” — Chandra Troxell, Controller, Mills Electric
5. Great Spectrum Support and Continuous Development
“(Spectrum’s developers) have been very responsive and very knowledgeable. They care about talking to clients and working with them to solve problems. We love the hosted solution and other new features we did not have before. It seems like Spectrum is on the forefront of construction accounting software.” —Howard Dembs, CFO, W. Soule and Co.
6. Gaining a Competitive Edge
“I definitely think contractors who are not thinking about moving to the cloud are at a disadvantage. You’re already going to be behind if you can’t add Business Intelligence which is amazing.” —Colleen Ward, Business Analyst, Hatzel and Buehler
For a deeper look into why contractors love using Spectrum BI – and Business intelligence tools in general – check out our e-book.
We’d love to share even more. Visit our website and get in touch with a product expert to see how your construction company could benefit from a Business Intelligence tool.