What types of technology can benefit contracting companies?

Technology can help contracting companies automate workflows, reduce errors, improve security and boost efficiency.

The U.S. Chamber of Commerce offers the following technology tools to help contractors thrive.

1. Project management tools. These tools are crucial, providing task management, scheduling, collaboration and tracking features. They help companies manage multiple projects and remote teams and can be used to communicate, assign tasks and track progress.
2. Accounting software. This software offers streamlined invoicing and billing processes, efficient time and expense tracking, and comprehensive financial reporting, among other benefits. It also can provide valuable insights and prevent missed deadlines.
3. Cybersecurity. Data breaches can result in lost customers, damage to a company’s reputation and financial losses. Cybersecurity tools protect sensitive company and customer data.
4. Customer relationship management. This software helps manage customer relationships and lead conversion, store contact information, track sales and support customer service.
5. Email marketing tools. These tools offer email templates, list management, automation and analytics so businesses can efficiently manage their marketing campaigns and improve the campaigns’ effectiveness.
6. Invoicing and billing software. This technology is key to helping businesses track projects and invoices and ensure timely payments. Cloud-based accounting software can offer automated invoice reminders, faster online payments and better expense tracking.
7. Contract management software. This streamlines the contract life cycle with features such as custom fields, automated approval processes, alerts, redlining, e-signatures and audit trails to help increase efficiency and visibility.