CFOs of Construction Businesses Major Challenge

Based on Oracle’s Netsuite survey, over a third of CFOs from construction companies report that implementing technological solutions is their most difficult challenge. No wonder tech can be confusing, as new developments such as SaaS, Baas, desktop and mobile apps, or even software ecosystems now exist.

Oleg Tarasiuk
CFOs of Construction Businesses Major Challenge

Based on Oracle’s Netsuite survey, over a third of CFOs from construction companies report that implementing technological solutions is their most difficult challenge. No wonder tech can be confusing, as new developments such as SaaS, Baas, desktop and mobile apps, or even software ecosystems now exist.

Without a prior background in tech, it can be a challenge to find a software product that will align perfectly with the needs of the business while having a good ROI, and mistakes can be costly.

Another thing is that, for construction firms, tech has never been a priority. While there are ready-to-use products on the market already, none of them is a tailored product. For example, a construction firm based in Albany, NY, can be blooming as the value of the construction of multifamily homes rose by 24% in just the first half of 2022, so the company needs to hire new workers quickly to address the demand. Hence, they need software to keep track of the potential labor pools in the area, with contact data, as well as dashboards for the projections.

Another firm, based in Las Vagas, may have a challenge with the shortage of key materials, so scheduling orders and tracking when the construction materials arrive at the construction site is their priority. The software product this firm would need should be based on scheduling deliveries and project management.

While you can find software solutions for these individual problems on the market when you have more than one challenge to address, the integration of different apps can cause havoc. That’s why I advocate for custom software development, which starts with the analysis of the business needs that a particular firm has and goes through development cycles, where features can be added.

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Oleg Tarasiuk

CEO & Strategist

Roman Labish

CTO

Roman Oshyyko

Design Director

Martha Sarvas

Deputy CEO, Head of

Business Development

CFOs of Construction Businesses Major Challenge
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