Materials
Resource
Construction Retention - Alleviating Disputes over Retention Releases
ARTICLE -- One key challenge that construction companies face is construction retention, disputes explicitly over retention releases. These conflicts can critically impact timelines, budgets, and profitability. 62% of firms identified retention release disputes as a significant hurdle in 2023.
Constructing Success: Unlocking Scalability, Flexibility, and Collaboration with FullClarity Construction for NetSuite
ARTICLE -- The construction industry, traditionally slow to adopt digital technology, is now on the cusp of a significant transformation. Construction companies using automation and cloud-based systems saw a 20% increase in project management efficiency.
Construction Management 2023: Overcoming Material Shortages and Premature Deliveries
ARTICLE -- 93% of construction firms experienced project delays due to material shortages in 2022, with an average increase in total project costs of 20% after original timelines were exceeded.
Construction Management 2023: Overcoming the Top 10 Challenges
ARTICLE -- Cloud-based project management software is a future-proof technology. 73% of construction professionals believe technology will significantly improve productivity and reduce project costs in the coming years.
Tackling Ever-Growing Data Challenges for Construction Management in NetSuite
ARTICLE -- 65% of construction professionals cite data management as one of the top challenges in construction management for 2023. Unlimited storage, single click to view, permission controls, document links, accessibility to NetSuite Sandbox, and easy-to-use upload features are all needed features.
Top 4 Challenges in Retainage Management for 2023
ARTICLE -- Managing retainage with manual processes can be challenging and time-consuming for construction companies, especially those with multiple projects. 50+% struggle and nearly a third reported that it takes 2-3 days to reconcile retainage amounts.
