An Industry Rebuilt: Construction
Dec 10, 2013
In the years following the recession, one sector which is once again experiencing exponential growth is construction. The boom in construction can be linked to several factors including housing prices and customer confidence. The growth has perpetuated increased use of specialized software for equipment rental and operations management, with companies finding that it is required for keeping pace with competitors.
Markets on the Rise
Due in part to an increased housing market, new home sales rose at the beginning of 2013, and are continuing to show growth leading into 2014. Last quarter, new home sales showed more than a 14 percent increase from the same time period in the previous year, according to the National Association of Home Builders. More homes equal more resources for construction, especially in master-planned communities with several hundred plots that require huge projects.
New homes aren’t the only sector affected by the construction boom: Commercial properties are on the rise. New leasing for commercial real estate rose to higher levels over the past year, while commercial real estate estimates predict falling vacancy rates for office, industry and retail markets.
One of the main indicators of strong economic growth is the increase of employment. Over the past year in almost every regional area, the construction industry increased its number of workers. According to the Bureau of Labor Statistics, unemployment within the construction sector dropped .8 percent.
Machinery You Can Use
Rental software gives you the flexibility and ease of handling a wide range of equipment in the construction industry. At every point in a project, rental software provides:
- Utilization stats
- Complete service history
- Contract management
- Inventory control
- Maintenance thresholds
- Trafficking for repairs and work orders
- Truck loading and routing info
In addition to these basic features, global positioning systems are becoming commonplace in heavy-duty vehicles as a form of steering. Telematics systems, which send, receive and store information through telecommunication devices, now include information like fuel usage, driver behavior and route planning. This allows all the employees on a project access to every detail of a project phase. Especially with heavy and large-scale equipment, the need to keep up with maintenance over the long term becomes top priority. Having the right software integrated into your operations sets your company up for success by keeping track of the integrity of each piece of equipment.
Future of Construction Software
Building materials and methods are consistently evolving, bringing new and innovative ways of handling construction jobs. The way homes and commercial real estate are built aren’t the same as they were even two years ago.
Rental software continues to grow into the mobile and self-service spheres. Customers are requesting equipment, drafting contracts and completing projects through their tablets and smartphones. With the right software, work happens faster, more accurately and in real-time. As processes become faster, productivity increases in fewer work hours than it would have taken in previous years.
inspHire is at the forefront of rental software for construction, with specialized features that have helped companies improve productivity year after year:
Reporting – Get standard and in-depth reporting, time utilization and graphical reporting.
Maintenance Operations – Stay up to date with preventive and remedial maintenance, parts inventory, instructional and safety information, and more.
Support and Security - Phone support, real-time updates, single and multi-users, with on-screen help and user training, are always available.
Having software that can adapt to the changing construction landscape can make workflow much smoother and more straightforward.
Modifications are simple and can be easily performed when changes arise during a job. Save time and resources with inspHire’s software and increase the capabilities of your construction projects.