My name is Martyn Aitken, I am the Director of Construction & Property division here at AJ Connect. In this edition we are looking at the TOP 5 digital trends impacting SMEs within the construction sector.
Let’s face it 2020 was not an ideal year for businesses in most industries, but I believe the issues below are long standing back to pre-covid-19 days (if anyone remembers them?). So, let’s run through them and see if your business could benefit from some of my suggestions.
Workloads & costs both on the rise
Prior to the current pandemic, reports and statistics issued from multiple industry groups had found that contractors were reporting strong growth in their project workload, but this was matched by a sharp increase of circa 75% in material costs. This has brought both cost control and margin tracking even more front and centre for businesses across the board. By implementing a cloud-based app, this would allow you to save a huge amount of time on admin, especially after being out on site all day.
The government bring in initiatives to, in the main, be advantageous to the ones who require them. With this in mind, the Construction Industry Scheme (CIS) and Making Tax Digital (MTD) will push businesses toward digitally based tolls, which will in turn make the process both easier and more convenient. Thus, freeing up value time to focus on more pressing issues.
Accountancy in the cloud
One of the major trends within business is the immense growth of accountancy apps being used, including market leaders such as QuickBooks & Xero. These apps are shining a bit of light on the power of the cloud for thousands of business owners and the beneficial insights these apps can provide. With it being as easy as a click of the button, your trusted financial specialists (accountants/bookkeepers) can play a pivotal role in assisting SMEs investigate opportunities increasing their cash flow and business performance as a whole.
Easy leads online
Lead generation/business development can be a struggle for some businesses, but with the increased growth of qualified lead websites for construction & trade services (in particular), this no longer needs to be such a slog. The age-old way of developing business through word of mouth is by no means dead, but in our ever-growing market the online lead providers will keep your business moving forward with the times. In the current climate especially, it is a great time to get used to moving online and start making electronically delivering quotes part of the norm.
Paper process no more
As much as the “old school” or not so tech savvy (myself included) of us would love to continue with paper-based administration processes, GDPR compliance has made this a huge no-no. GDPR can be another tricky point for businesses trying to get used to things, but again this is yet another reason the investment in cloud-based technology needs to be considered.
Hopefully, you have found the above useful and this hasn’t just added another 5 things to your to-do list.
For discussions concerning recruitment within the Construction & Property industries, please feel free to get in touch with me on 0131 378 0270 or at firstname.lastname@example.org .
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