In our recent live webinar, “BOLDBuild 2.1 - Comprehensive Solution for Sales, Pre-Construction & Construction Phase,” attendees had the opportunity to witness how AlphaBOLD and Microsoft help organizations eliminate the need for disparate, disconnected systems across the sales, pre-construction, and construction phases.
Our Vice President, Tayyab, along with our Strategic Sales Expert, Nick, gave a detailed presentation explaining how companies can overcome modern challenges they face in the Architecture, Engineering, and Construction (AEC) industries. They discussed the reasons why leading construction companies opt for BOLDBuild. The two gentlemen then proceeded to give our attendees an exclusive sneak peek into what 2020 holds for BOLDBuild clients.
Our webinars always end on a friendly question and answer session with our attendees. Many attendees put forward their questions to evaluate BOLDBuild. In this blog, we have packaged a few tips, benefits, and insights, as discussed in our webinar, to help you understand when and why BOLDBuild is the best solution for all your challenges!
COMMON AEC CHALLENGES
Let’s start our blog with a detailed description of the industry challenges faced in the market today:
- Document and data management
Document and data management lie at the core of every organization. They help ensure a smooth flow of communication and transactions between a company and its stakeholders, such as clients and workers, etc. However, our research indicates that almost 50% of contractors in the market still fail to capture and review data consistently and are often wasting hours in hunting down relevant project information!
We estimate 35% reduction in time spent looking for project documentation and information by using BOLDBuild. Most of the companies in AEC face challenges with their document and data management process.
- Project Tracking
Project tracking is another issue faced by most managers in the AEC industry. Project tracking is an essential part of the project manager's job. It not only keeps things running smoothly in terms of project deliverables, but it also keeps employees stay focused and motivated. Our research, however, shows that only a mere 42% of managers have the time and resources to update their schedules daily or weekly, and even out of this number, only 20% update the schedules after 1-2 days of becoming aware of the change. Not so good, is it?
- Request for Information (RFI) and Requests
RFIs, as we colloquially call them, are a requirement in the construction industry. We know how much all contractors and engineers dislike them, and nobody likes wasting time and money over them, but unfortunately, we need to do so. There are ways to keep RFIs low, but not all contractors seem to be availing these options, which is reducing their bottom line intensely.
According to our research, there is an average of 10:1RFIs for each $1 million of construction worldwide. Furthermore, an approximate of $859,680 of the project cost is dedicated to RFIs only. That is a huge amount being invested, and yet 22% RFIs receive NO response.
- Change Orders
Change orders are yet another pain point for construction firms in general. Often, they are stupidly expensive, inaccurate, and time costly. Change orders are inevitable during the construction process, and regardless of the project team’s pains to prevent change orders, they seem to occur.
Our research indicates that only 30% of change orders are collected and documented. Without real-time tracking of change orders, it is easy for companies to lose track of updates and their budgets, and that will cause some significant problems for the company.
- Labor Productivity
Labor productivity is an essential facet of every construction project. It permits the contractors to correctly and cost-effectively bid on projects and efficiently measure costs in the event of change orders.
72% of contractors state that there is medium or high impact on worker productivity due to duplicate entries of the construction data. Almost all these contractors blame a lack of communication and collaboration between project teams for such mishaps.
THE SOLUTION? - BOLDBUILD
If any of the above problems hit a sore spot, it is indeed time to welcome BOLDBuild into your company.
What is BOLDBuild?
BOLDBuild is a comprehensive solution built for Architectural, Engineering, and Construction companies to eliminate disconnect across teams in the field and office. With BOLDBuild, companies can automate end to end processing while streamlining Project Management, Sales, Inventory Management, On-field Operations, and much more. BOLDBuild 2.1 Sales and Project Management App is the only solution in the market that handles sales with a smooth transition to pre-construction and construction phases. BOLDBuild is the best solution for companies in the construction space to gain competitive advantage in 2020. With BOLDBuild, you’ll gain a competitive edge with streamlined features such as:
- Sales Pipeline and Collaboration:
BOLDBuild allows sales team to identify and work on opportunities as they arise. Furthermore, it empowers sales team to effectively collaborate with estimators and automatically uploads estimates, generates multiple bids, and automatically create proposals for customers using one integrated system.
No more confusion and missed opportunities!
- Contract Management:
BOLDBuild simplifies contract management by allowing users to create approved or LNTP contracts with the ability to manage single or multi-site contracts. Additionally, it empowers users to transition estimates to contracts as Budgets
- Executive-Level Sales Insight:
The best thing about BOLDBuild it that it gives users complete visibility in terms of decision making! Users can make key-informed decisions by automating the sales process, thus enjoy effective sales forecasting and visibility into sales stages. With BOLDBuild, users can easily drill into bids and their breakdown and instantly know what parts of bid demand whose attention, when, and where. That is truly a gamechanger!
- Project Management:
Now we talked about how project tracking is one of the pain points we face in the industry. BOLDBuild is the perfect solution for all tracking problems! It allows users to create one or multiple projects from the contract and enables them to easily manage all pre-construction and construction tasks as Gantt Charts against the project! Integration:
BOLDBuild’s highly efficient and effective integration with Accounting Systems as well as Project Management tools such as Wrike and Microsoft Project Online provides construction teams with a streamlined project management experience.
- Bid Tracking Management:
Tracking is one of the sore spots of most companies. BOLDBuild allows companies to manage the sales process by tracking multiple direct and indirect opportunities, same end customer through EPC, contractors, and subcontractors. Moreover, it enables contractors to generate bids against different services and associate them with the relevant opportunity.
- Proposal Development:
BOLDBuild allows companies to enjoy a streamlined proposal development and updating processes. It enables them to generate a company-branded proposal with dynamic data on a single click! It also automates the process of sending the proposal to the client and making amendments to the proposals. The user has nothing to worry about!
- Efficient Collaboration:
Document and data management is yet another leading AEC challenge! BOLDBuild streamlines document management between teams on a project level as well as the pre-construction phase using Microsoft Teams. No more hiccups or lost data!
BOLDBuild simplifies the process of bid conversions. It allows users to easily convert bids to budget and associate with contracts in one unified platform. It also allows for tracking change orders against the budget.
Those are some compelling advantages that can surely equip your business with features that make you outshine all competition. On top of this, BOLDBuild 2.1 is bringing forward some fantastic new features to for your construction business.
UPCOMING FEATURES OF BOLDBUILD 2.1
The new and improved BOLDBuild 2.1 will fuel business growth with the following new features:
- A pre-construction module that will improve contract negotiations, estimate changes, procurement, team collaboration & structure of the business
- Several project management enhancements through integration with Wrike and Microsoft project online.
- Optimized ability to easily create multi-site contracts with multiple projects having one or multiple sites.
- Enhanced collaboration through integration with Microsoft Teams, office 365 groups, and SharePoint.
- Effective tracking of budget and change orders on contract, project level, or a site level. This allows users to manage projects, dallies, change orders, time entries, service, and equipment data in ONE platform.
BOLDBuild 2.0 is scalable to meet the requirements of all companies, big or small. BOLDBuild 2.0 is designed to help users easily track and manage production activities by connecting teams in the field to the office efficiently. With BOLDBuild 2.0, companies no longer struggle to collect and document project information or validate their timesheets! Whether it is tracking sub-contractor hours or rental equipment, BOLDBuild has got you covered!
You can simply book a trial and see for yourself! If you have any further questions or would like to add something to the blog, please leave a comment below!