The current market can be described in one word; SCARY
In the last two years over 50 percent of subcontractors have seen a decrease in profitability while the costs for product continues to rise.
Supply and demand have yet to fall back in the favor of subcontractors and doesn’t seem likely to happen anytime soon. As fuel prices continue to rise and inventory doesn't stabilize, worry can only be expected.
The largest companies cannot expect to survive this as the margin between gross profit and net becomes smaller and smaller.
Many large companies have turned to the idea of layoffs to save money; but when you’re a subcontractor, how do you lay off someone you need to physically finish a task? You don’t. Yes running lean is key, but not understaffed.
So what can a sub do? Work more efficiently. How do they do that? Utilizing a construction software.
Software gives companies the ability to automate follow ups, CRM logs, bid invitations and much more. And how does that help? It keeps you from needing to remember everything, eliminates tedious tasks and gives you back time in your day to truly work and finish the projects that you need to.
Good construction software has features like estimating tools, tailored specifically to building automation, controls, security and more, allowing you to prebuild kits and select via drag and drop tech to quickly produce whatever type of estimate you need, while being able to proof, export to various formats and email – all in one place.
Beyond that, the software should be the one and only place you need to go in order to check in on any project. From checking on changes, progress updates, reviewing timesheets and approving on-site upgrades – all of that should be readily available when you log in.
You should also be able to log in from any device, anywhere-because we know subs don’t have a desk job; this should be standard across any platform you decide to use.
The last thing you want to do is run back to your home or office because you need to get on a computer to view, that takes up too much time when you already don't have enough.
Yes, the uncertainty of the market is scary – but there is help available. You just have to be open to learning and utilizing it.
If you found this post helpful, request more information on subcontracting software, here.
