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Quit Burning Money: Construction Companies Continue to Lose Money on Data Collection

By Jason Ganz on January 4, 2014
Tags: Data Collection, Productivity, GoCanvas Marketing, Paperless Business News

You want to cut costs in your construction business. Sure, there are a few culprits that come up: you find sources for cheaper materials or incentivize faster, more efficient work. Yet, one hidden cost still remains and could be costing your company tens of thousands of dollars a year – your data collection.

Data is the foundation of your business. Like a building, poor data collection practices lead to a weaker business, more susceptible business. 

Bad data collection burns your time, and your money (Images_of_Money, source)

Data Entry: Waste of Time, Waste of Money

How many hours a year do your employees spend filling out, transcribing & looking for paper forms? Let’s say that each employee spends 5 hours a week entering paper forms into your database. If he works 45 weeks a year, that means one emplyee spends 225 hours a year on data entry alone.

You want your employees to be focusing on doing their job – not on filling out paper forms. Data collection costs your company through lost time and lowered employee motivation. That’s not the only way poor data collection practices are hurting your business.

One Lost Form, One Wide Open Door.. to a Lawsuit

A lost, damaged or illegible document can mean big trouble for a construction company. The losses could be minor, such as accidentally undercharging a client for work performed. Or they could be more serious.

What would your company do if someone was injured on site and you had lost that day’s required safety inspection report? One lost document could cost your business in potential lawsuits & settlements. A digital data collection system would protect you from this type of legal situation.

 

How did the form get outside? More importantly, can we pick it up without tearing? (peretzpup, source)

With digital data collection, your safety inspections, equipment logs & construction work orders are securely stored. No more questions over how many hours worked on a particular job site or who was using a particular power saw last week. By having easy access to this data, you can eliminate thousands of dollars in hidden costs.

Don’t just take our word for it though – check out the GoCanvas ROI calculator. See how much money you could save by going mobile. 

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