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Construction is one of the biggest, oldest industries in the world — and sometimes, the technology it uses reflects that. In the field, more and more technological advancements are being made, but the back office needs to do the same. Sure, project management and design tools are becoming more commonplace, but what about finance? The department that keeps the business running must be central to the decision-making process. However, the unique nature of construction finance and the complex nature of construction projects have meant the finance department has been left behind.
Working in Excel spreadsheets that have old data and are prone to human error means that balancing the books, managing cash flow, and forecasting for the future are usually done on information weeks or months out of date. How can you scale and thrive when you’re unsure if you’re under or over-billed or if a job is closed before payments are finalized?
Construction finance is a messy business, and it really shouldn’t be. At least, that’s what we think. Briq is software made by the construction industry for the construction industry. Our team understands the pain points of the industry’s financial processes — like building a WIP — because we’ve been there and set out to solve them.
Technology made for the construction industry
Because we come from the industry, we understand that every company works in a unique way. There is no standard way to produce reports or gather data across the industry. That’s why our teams personalize Briq for your business.
The Briq team works with you to determine how your business operates now and how it will operate when you incorporate more automated work. Workflows are simplified, data collection and inputting are automated, and our team will be with you every step of the way.
Advanced technology that feels familiar
We understand that you don’t want a complicated new technology that upends the way you work. That’s why Briq’s workbooks look like the spreadsheets you’re used to, but we’ve improved them. Unlike Excel, our workbooks are personalized to your business to show the information you want. And if you need to rearrange your workbook, there’s no need to create a new one; you can adjust the rows and columns with just a few clicks.
Additionally, Briq’s dashboards have role- and project-based permissions, so different team members can see the information they need and nothing else. This provides additional layers of security for sensitive financial data. That’s not the only benefit, as the dashboards are in the Briq platform, they are up-to-date with the most accurate and timely information across your company.
The impact of automation for construction
Automation isn’t here to take jobs; it’s here to make you more productive. When you don’t have to spend brain power on repetitive tasks, you can spend more time on high-value tasks. It’s better for your employees and better for your business.
How automation makes you more productive
It’s a fact that automation boosts productivity. With Briq, our automation bots run 24/7 in the background ensuring data is input and shared across your systems in real time. Having bots take care of time-consuming but low-value tasks allows your teams to engage in more high-value work. Now a task that took a person days to complete (inputting data from hundreds of invoices by hand) is done with automation and your employee can use their skills to interpret your data to build better business plans and make better decisions.
Increase your profitability with automation
Of course, a more productive workforce will allow you to be more profitable. Your teams now have the time to spend on understanding your business and coming up with new avenues for revenue growth thanks to automation. Your team is now working on your business rather than being caught up working in the business.
Be more accurate with automation
Automation also helps to keep your business data error-free. When inputting data manually, a slip of the hand or a mistyped digit can cause problems down the line and will cost your team many hours to find the source of the error. With automations, you can avoid human fallibility. It reduces process errors, and fewer errors can only benefit your bottom line as time goes on.
If you want to explore what automation could do for your construction business, arrange a call with our team.