IT Management and Cyber Security for General Contractors

The general contractor job description encompasses every aspect of building construction, whether it is new construction, remodeling, or renovation. General contractor responsibilities include coordinating with subcontractors, managing employees, setting deadlines and budgets, and obtaining appropriate building materials. Contractors must also manage client expectations, troubleshoot the project, resolve emergencies, acquire needed construction permits, and ensure every part of the build is up to code.

Every facet of the general contractor job description involves information, people, other businesses, and government entities. This information is vital, personal, sensitive, and valuable. It must be safeguarded from intruders who would use it for their own gain without thought for the direct harm it would cause the individuals and businesses involved, including the general contractor who is responsible for protecting project information.

IT management and cybersecurity are critically important for the general contractor. Project management for the general contractor encompasses schedules, materials, services, permits, and, most importantly, people. When a cyber-attack steals client, subcontractor, and vendor account information, it hurts people.

Data is the heartbeat of modern business. A data breach can destroy a small company or squeeze the life out of a new business. Insufficient cyber protection is not only highly risky, but it could also be disastrous.

What is the cost of a successful cyber-attack on small businesses?

The impact of a cyber-attack upon a small business will be felt differently than an attack on a large business. The scale of size may mitigate the effects on the larger business even though the actual cost to repair, replace, and a reboot may be vastly more massive than the expense to the smaller business. The damage caused by a breach can put a significant dent in a business’s bottom line. Size does not matter because the attack still inflicts budgetary pain. The intensity and longevity of that pain depend on the nature and extent of the attack, the IT management solutions in place to deal with the catastrophe, and other less noticed impact zones.

According to one source, “The average security breach on a small business will cost about US$38,000, according to a study from Kaspersky Lab. The amount includes the costs of downtime, lost business opportunities and the services the company will need to hire to mitigate the cybersecurity breach. Small businesses pay, on average, about $10,000 in professional services, including the hiring of IT security and risk management consultants, lawyers, auditors, accountants, and public relations consultants.”

The effects of a security breach are both visible above the surface and obscured below the surface.

Further delineating the tangential, but profound impacts on small business, the assessment continued, “Downtime costs for smallish businesses hover around $23,000 and lost business opportunities about $5,000. Many of the victims will spend about $8,000 trying to ensure a similar incident doesn’t happen again with investments in new staff members, cybersecurity training for existing employees and making upgrades to its IT infrastructure.”

Estimates are that the direct financial impact on a larger business is even more costly, where the average cybersecurity breach costs about $825,000 which is many times more than the cost for a small business.

While the impact of a cyberattack will be felt differently by small and large businesses, the damage caused by a breach can create a significant dent in a business’s bottom line, no matter its size.

What companies are required to publicly report shapes much of the popular understanding as to the cost and impact of a cyber-attack. Some examples of security breaches that make the news are payment data, personal health information (PHI), and the theft of personally identifiable information (PII). Costs related to customer notification, credit monitoring, and the possibility of legal judgments or regulatory penalties are lower profile, but they are real threats.

Rarely put on public display are instances of data destruction, espionage, intellectual property (IP) theft, attacks on core operations, or attempts to neutralize critical infrastructure. These types of attacks can inflict a more significant injury and lead to additional costs that are more complicated to determine accurately.

The general contractor is an information hub. A successful cyber-attack on this hub is like striking an informational motherload. As the gatekeeper for client, subcontractor, and vendor data, the general contractor has a fiduciary responsibility to protect their data. A managed IT solution is the only and best solution. Will it be an ounce of prevention or a costly pound of cure?

For more information about acquiring a general contractor license or learning how to become a contractor, contact Contractors Reporting Services at (813) 932-5244.

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The post IT Management and Cyber Security for General Contractors appeared first on Contractors Reporting Services.

CRM Tools Bring a Competitive Edge to General Contractors

One of the most important keys to success as a general contractor is leveraging technology to multiply efforts, increase efficiencies, and improve communication. The right tools can facilitate general contractor licensing, filing annual reports, keeping the workers’ compensation exemption renewed, following lien law, pulling permits, and filing a notice of commencement. The general contractor must also consider the marketing aspects of what they do. If there is not a next client, then there is not another project.

Client acquisition and customer relations management are a vital dimension of being a general contractor. If a general contractor is to repeatedly and consistently succeeds, they must perform well in many areas and at all levels. Technology facilitates compliance and enables scaling. The proper technology will empower general contractors to multiply themselves, multiply projects, verify compliance, and grow profits.

The maxim “Plan your work and work your plan” is technology encapsulated. Technology empowers planning, organization, execution, accountability, and follow-up. Competency in each of these areas is mission-critical for success in an industry where attention to detail and data management directly impact ROI. A project is not successful unless it is completed on time, on budget, and according to client or customer specifications. CRM helps achieve success at all levels.

What is a CRM?

A CRM or customer relations management tool is a planning, organizational, and management tool that has the potential to launch a general contractor to the next level of performance and beyond.

A business management software solution may already be in place and in use to handle day-to-day project needs. It may have a CRM component or platform. The reality is that most CRM’s are underused or not used at all. The following seven benefits should compel the savvy general contractor to adopt a CRM platform to manage their many projects.

1. View the client and project pipeline at a glance

A CRM organizes client data into a visual format that can be digested and understood at a glance. From leads to prospects to clients to subcontractors to vendors to projects, see the sales and project pipeline and which potential projects are about to solidify. Licensing, permitting, and compliance schedules can be managed on an individualized project level and can be viewed at a glance. Failing to pull a permit or allowing a contractor’s license or certification to fall through the cracks or lapse could be painful to resolve.

2. Spend less time managing client data and more time managing projects

Automation does the heavy lifting and allows for instant scaling.

3. Enhance client service

Tracking client and subcontractor communication in a single location is valuable to both the general contractor, the subcontractors, and the client. From an internal perspective, CRM makes it easier to share information with the team. With a cloud-based CRM, the team can securely store and access data from anywhere on their smartphones. Team members with access can make notes on a potential client’s file, adjust estimates, request specific materials, and move opportunities from one stage in the pipeline to the next.

4. Remind the team to follow-up on details and the progress of the project

Being a general contractor involves acquiring clients and serving client and project needs. A worthy CRM tool facilitates client acquisition and project organization and implementation. For the specific details of a project or subproject, a project management tool is highly recommended. A CRM and project management combination can be the best solution.

5. Forecast revenue more accurately

Tracking the acquisition of a new client and the project progress is essential for cash flow. Cash flow is arguably one of the greatest struggles for a small business. Overcoming the cash flow challenge marks a significant achievement in the management of a business, especially in the area of construction.

6. Use data-powered insights to finetune the client-to-project process

A CRM can reveal insights about the overall process. With data stored in a central location, patterns emerge from that might not have been noticed. Seeing each sales opportunity in the pipeline from new leads and contacts to project initiation exposes stall points that can be addressed and remedied. The launch of the project can be expedited.

7. Collect better ROI on marketing dollars

General contractors who want to grow must do some form of marketing. Whether the marketing is informal or formal or analog or digital, knowing where every marketing dollar was spent and then being able to assign results – leads and conversions – to those dollars is extremely valuable, especially as a company grows and scales to accommodate that growth. Knowing the source of the best results can help a general contractor know where to push the marketing dollars. Money well spent yields solid results that convert into clients with construction projects.

Technology is the force multiplier in the highly competitive and margin-sensitive general contracting industry. The ability to manage, analyze, and interpret client and project data informs critical decisions that determine whether a project will be profitable. Ensuring that all documentation, licensing, and compliance issues are managed in a timely and accurate manner is mission-critical for success. General contractors who embrace the power of a CRM tool will win in all areas and at any level.

To learn more about Florida contractor license requirements, contact Contractor Reporting Services by phone at (813) 932-5244

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The post CRM Tools Bring a Competitive Edge to General Contractors appeared first on Contractors Reporting Services.

IT Management and Cyber Security for General Contractors

The general contractor job description encompasses every aspect of building construction, whether it is new construction, remodeling, or renovation. General contractor responsibilities include coordinating with subcontractors, managing employees, setting deadlines and budgets, and obtaining appropriate building materials. Contractors must also manage client expectations, troubleshoot the project, resolve emergencies, acquire needed construction permits, and ensure every part of the build is up to code.

Every facet of the general contractor job description involves information, people, other businesses, and government entities. This information is vital, personal, sensitive, and valuable. It must be safeguarded from intruders who would use it for their own gain without thought for the direct harm it would cause the individuals and businesses involved, including the general contractor who is responsible for protecting project information.

IT management and cybersecurity are critically important for the general contractor. Project management for the general contractor encompasses schedules, materials, services, permits, and, most importantly, people. When a cyber-attack steals client, subcontractor, and vendor account information, it hurts people.

Data is the heartbeat of modern business. A data breach can destroy a small company or squeeze the life out of a new business. Insufficient cyber protection is not only highly risky, but it could also be disastrous.

What is the cost of a successful cyber-attack on small businesses?

The impact of a cyber-attack upon a small business will be felt differently than an attack on a large business. The scale of size may mitigate the effects on the larger business even though the actual cost to repair, replace, and a reboot may be vastly more massive than the expense to the smaller business. The damage caused by a breach can put a significant dent in a business’s bottom line. Size does not matter because the attack still inflicts budgetary pain. The intensity and longevity of that pain depend on the nature and extent of the attack, the IT management solutions in place to deal with the catastrophe, and other less noticed impact zones.

According to one source, “The average security breach on a small business will cost about US$38,000, according to a study from Kaspersky Lab. The amount includes the costs of downtime, lost business opportunities and the services the company will need to hire to mitigate the cybersecurity breach. Small businesses pay, on average, about $10,000 in professional services, including the hiring of IT security and risk management consultants, lawyers, auditors, accountants, and public relations consultants.”

The effects of a security breach are both visible above the surface and obscured below the surface.

Further delineating the tangential, but profound impacts on small business, the assessment continued, “Downtime costs for smallish businesses hover around $23,000 and lost business opportunities about $5,000. Many of the victims will spend about $8,000 trying to ensure a similar incident doesn’t happen again with investments in new staff members, cybersecurity training for existing employees and making upgrades to its IT infrastructure.”

Estimates are that the direct financial impact on a larger business is even more costly, where the average cybersecurity breach costs about $825,000 which is many times more than the cost for a small business.

While the impact of a cyberattack will be felt differently by small and large businesses, the damage caused by a breach can create a significant dent in a business’s bottom line, no matter its size.

What companies are required to publicly report shapes much of the popular understanding as to the cost and impact of a cyber-attack. Some examples of security breaches that make the news are payment data, personal health information (PHI), and the theft of personally identifiable information (PII). Costs related to customer notification, credit monitoring, and the possibility of legal judgments or regulatory penalties are lower profile, but they are real threats.

Rarely put on public display are instances of data destruction, espionage, intellectual property (IP) theft, attacks on core operations, or attempts to neutralize critical infrastructure. These types of attacks can inflict a more significant injury and lead to additional costs that are more complicated to determine accurately.

The general contractor is an information hub. A successful cyber-attack on this hub is like striking an informational motherload. As the gatekeeper for client, subcontractor, and vendor data, the general contractor has a fiduciary responsibility to protect their data. A managed IT solution is the only and best solution. Will it be an ounce of prevention or a costly pound of cure?

For more information about acquiring a general contractor license or learning how to become a contractor, contact Contractors Reporting Services at (813) 932-5244.

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The post IT Management and Cyber Security for General Contractors appeared first on Contractors Reporting Services.

CRM Tools Bring a Competitive Edge to General Contractors

One of the most important keys to success as a general contractor is leveraging technology to multiply efforts, increase efficiencies, and improve communication. The right tools can facilitate general contractor licensing, filing annual reports, keeping the workers’ compensation exemption renewed, following lien law, pulling permits, and filing a notice of commencement. The general contractor must also consider the marketing aspects of what they do. If there is not a next client, then there is not another project.

Client acquisition and customer relations management are a vital dimension of being a general contractor. If a general contractor is to repeatedly and consistently succeeds, they must perform well in many areas and at all levels. Technology facilitates compliance and enables scaling. The proper technology will empower general contractors to multiply themselves, multiply projects, verify compliance, and grow profits.

The maxim “Plan your work and work your plan” is technology encapsulated. Technology empowers planning, organization, execution, accountability, and follow-up. Competency in each of these areas is mission-critical for success in an industry where attention to detail and data management directly impact ROI. A project is not successful unless it is completed on time, on budget, and according to client or customer specifications. CRM helps achieve success at all levels.

What is a CRM?

A CRM or customer relations management tool is a planning, organizational, and management tool that has the potential to launch a general contractor to the next level of performance and beyond.

A business management software solution may already be in place and in use to handle day-to-day project needs. It may have a CRM component or platform. The reality is that most CRM’s are underused or not used at all. The following seven benefits should compel the savvy general contractor to adopt a CRM platform to manage their many projects.

1. View the client and project pipeline at a glance

A CRM organizes client data into a visual format that can be digested and understood at a glance. From leads to prospects to clients to subcontractors to vendors to projects, see the sales and project pipeline and which potential projects are about to solidify. Licensing, permitting, and compliance schedules can be managed on an individualized project level and can be viewed at a glance. Failing to pull a permit or allowing a contractor’s license or certification to fall through the cracks or lapse could be painful to resolve.

2. Spend less time managing client data and more time managing projects

Automation does the heavy lifting and allows for instant scaling.

3. Enhance client service

Tracking client and subcontractor communication in a single location is valuable to both the general contractor, the subcontractors, and the client. From an internal perspective, CRM makes it easier to share information with the team. With a cloud-based CRM, the team can securely store and access data from anywhere on their smartphones. Team members with access can make notes on a potential client’s file, adjust estimates, request specific materials, and move opportunities from one stage in the pipeline to the next.

4. Remind the team to follow-up on details and the progress of the project

Being a general contractor involves acquiring clients and serving client and project needs. A worthy CRM tool facilitates client acquisition and project organization and implementation. For the specific details of a project or subproject, a project management tool is highly recommended. A CRM and project management combination can be the best solution.

5. Forecast revenue more accurately

Tracking the acquisition of a new client and the project progress is essential for cash flow. Cash flow is arguably one of the greatest struggles for a small business. Overcoming the cash flow challenge marks a significant achievement in the management of a business, especially in the area of construction.

6. Use data-powered insights to finetune the client-to-project process

A CRM can reveal insights about the overall process. With data stored in a central location, patterns emerge from that might not have been noticed. Seeing each sales opportunity in the pipeline from new leads and contacts to project initiation exposes stall points that can be addressed and remedied. The launch of the project can be expedited.

7. Collect better ROI on marketing dollars

General contractors who want to grow must do some form of marketing. Whether the marketing is informal or formal or analog or digital, knowing where every marketing dollar was spent and then being able to assign results – leads and conversions – to those dollars is extremely valuable, especially as a company grows and scales to accommodate that growth. Knowing the source of the best results can help a general contractor know where to push the marketing dollars. Money well spent yields solid results that convert into clients with construction projects.

Technology is the force multiplier in the highly competitive and margin-sensitive general contracting industry. The ability to manage, analyze, and interpret client and project data informs critical decisions that determine whether a project will be profitable. Ensuring that all documentation, licensing, and compliance issues are managed in a timely and accurate manner is mission-critical for success. General contractors who embrace the power of a CRM tool will win in all areas and at any level.

To learn more about Florida contractor license requirements, contact Contractor Reporting Services by phone at (813) 932-5244

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The post CRM Tools Bring a Competitive Edge to General Contractors appeared first on Contractors Reporting Services.