Monthly reports are often batched and include numbers from accounting, project management, materials, inventory, and purchasing.
Batched reports are useful from a historical perspective. But what if you are trying to monitor the construction side of your business to be sure you have the right quantity and grade of materials in the right place and the right time for your job?
With batch reporting, materials may be running low for a specific construction material, but you won’t know anything about the problem until you run your monthly report. This delay can mean stopping the job’s progress mid-stream as you call around to other suppliers for some aggregate and pay costly expediting fees.
You just took on added expenses and delays due to missing details that are readily available for you to use.
There are many advantages of using real-time reporting and analytics with a real-time dashboard.
There are some major benefits of using a dashboard with real-time reporting to assess your performance, rather than waiting until the end of the month to get the information. More clarity around your resources helps you speed up course correction and decision-making, so you can adjust your strategy and make changes faster. Dashboards reduce errors and delays, but they also speed project completion times and lower costs by enabling you to:
- Ensure project visibility and monitor performance. A dashboard lets you see across your organization and entire network of trading partners. It runs on data collected from on-premise, cloud, and third-party solutions across the supply chain so that you can monitor all your synced equipment, materials, and personnel data activity in real-time.
- Maintain the right levels of inventory. You’ll have real-time numbers to work with, so you can adjust when you need, with plenty of time to avoid material stock-outs.
- Access and share vital information. Unlike static PDF or downloadable reports, real-time online reports let you easily share or provide access anywhere. This feature means you can make sure all supply chain parties have equal access to information.
- Achieve more bang for the buck. Dashboards extend the value of your existing technology investments.
- Minimize manual work. Batched reports are a one-time activity. But real-time reporting lets you connect all the right sources, so you won’t have to build reports whenever you have a performance meeting.
- Mine your data to analyze trends. The data your company and supply chain generates will help you navigate your project and keep you one step ahead of any emerging on-site problems. It will also add predictability to the building process and, by extension, to your construction progress tracking process.
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