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Why Do You Need Construction Management Software

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The pandemic may have made most businesses realise the emerging shift to everything digital, especially in how transactions are now being made. Whether we like it or not, going digital may be one of the ways to keep your business thriving in the ever-changing landscape of business. In one way or another, we may have to adapt and learn how we should adjust to this new way of doing business in whatever industry we are part of. You might think that industries that are known for doing manual jobs like the construction industry may shield themselves from this development but they might not. It may also involve internal processes of documentation in which the use of construction management software may be beneficial not only to the production of the team but to the growth of the business as a whole.

What is construction management software?

Much like the phrase, construction management software is a platform that construction companies could use to streamline their internal processes on project management, task assignments, expense documentation, and anything related to their operation that needs documentation or paper trails. With the efficiency of using construction management software, over 57% of construction companies have utilised it during the pandemic as it has helped them communicate with their employees despite the location barriers.

Since construction management software allows you to minimize doing paper works and operating everything manually, how could it help you do better business?

It could help you give and receive real-time updates from the team.

With construction management software, you may feed in data from site to office where information may be updated in real-time, giving builders the ability to make quality decisions.

It could ease your process of retrieving data.

It may serve as a storage of data and information that may enable retrieval of the same data and information at a future date or may verify incidents and observations when they happened.

It could reduce possible risks in estimating project costs.

Reduction of risk may be possible where quality and safety are regularly monitored and reviewed on one platform.

It could increase productivity.

There may be an increase in the quality of projects when potential defects and poor workmanship is identified during or after construction.

It could help you track incidents.

Management Liability Insurance

Management Liability insurance is designed to provide protection to both the business and its directors or officers for claims of wrongful acts in the management of the business.

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Business Insurance

A business insurance pack can provide cover for your business premises and contents, against loss, damage, theft or financial loss from an insured interruption to the business.

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Business Package

Purchase up to six products under one Business Insurance Package.

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It could help you track incidents.

Proof of induction, incident, and observation reports that may be retrieved to support the builder was doing according to their due diligence and duty of care.

It could help you assess risk ratings.

Insurers may benefit from the added information in the platform to assess a builder's risk rating.

How can Procore help reduce construction insurance premiums?

Procore may be one of the many kinds of construction insurance software that you may avail of. Coming from the founder’s personal experience, Procore was built to help teams navigate their tasks where they can reach out to contractors, architects, project managers, and engineers in one platform.

Using software like Procore could reduce the risk of incidents that you have to pay for premium as its features may help you track a series of incidents that may give rise to claims. With proper documentation in using Procore, it may give the project manager access to data like the project costs, its nature, and even its location. And with the data and project visible to the person in charge, you may be able to identify which areas of your business might still need insurance and which require premiums or not.

Silverback Insurance is passionate in helping builders and specialises in finding you the right insurance solution, tailored to your business needs. We work in collaboration with innovative technology such as Procore that looks to disrupt the industry for the good of all.

General Advice Warning: This advice is general and does not take into account your objectives, financial situation or needs. You should consider whether the advice is appropriate for you and your personal circumstances. Before you make any decision about whether to acquire a certain product, you should obtain and read the relevant product disclosure statement.

All information above has been provided by the author.

Silverback Insurance Pty Ltd, ABN 74 643 561 746, AFSL CBN AFSL 233750