{"id":144650,"date":"2024-10-16T06:27:44","date_gmt":"2024-10-16T05:27:44","guid":{"rendered":"https:\/\/www.pbctoday.co.uk\/news\/?p=144650"},"modified":"2024-10-15T17:16:37","modified_gmt":"2024-10-15T16:16:37","slug":"maximising-construction-profit-margins-with-document-control-software","status":"publish","type":"post","link":"https:\/\/www.pbctoday.co.uk\/news\/digital-construction-news\/construction-software-news\/how-document-control-help-you-maximise-construction-profit-margins\/144650\/","title":{"rendered":"Maximising construction profit margins with document control software"},"content":{"rendered":"

Part of Newforma’s Essential Strategies to Protect Your Construction Profit Margins <\/a>series, this section focuses on effective tactics to avoid profit erosion and manage costs via document control<\/h2>\n

In the bustling world of construction project management, keeping track of project documents is essential for architects, engineers, and contractors, but this task often presents challenges that can impact project outcomes and construction profit margins. Firms juggle multiple projects, each generating a mountain of documents and models.<\/p>\n

Many still rely on outdated methods for managing these documents. Users, confused by numerous versions and revisions, often end up with the wrong information. Your colleagues, who, in trying to help, might move the latest documents into special folders for easy access.<\/p>\n

While this approach is meant to simplify things, it\u2019s often highly inefficient. You\u2019ll then have to spend countless hours re-organizing folders or looking for an email from two years ago, causing delays and occasional errors.<\/p>\n

A recent report from McKinsey<\/a>\u00a0found that 28% of a professional\u2019s workday is spent looking for emails, but, when it comes to keeping track of sensitive information, like drawing or document revisions, that number is usually much higher.<\/p>\n

Despite your best efforts, users struggle to find the right documents or drawings in a timely fashion, risking quality and timeliness. This inefficiency wastes time and money and can lead to significant financial losses.<\/p>\n

Without the right document control software, teams are at risk of working with outdated revisions, which can result in costly mistakes, project delays, and even legal disputes.<\/p>\n

Putting the ‘P’ in construction profit margins<\/h3>\n

Throughout a project\u2019s lifecycle, documents and models undergo numerous changes, reflecting design updates, regulatory revisions, and stakeholder feedback. Manually managing these changes is not only time-consuming but also leaves too much room for error. That\u2019s why more firms are turning to document control platforms that significantly reduce manual tasks through features like bulk uploads and advanced data management. This approach ensures that every change is properly tracked, and your team is always working with the most current documents.<\/p>\n

Investing in robust document control software<\/a> can notably improve construction profit margins:<\/p>\n