It’s been fascinating to watch the stock market soar over the past 6 months while the world has continued to be stuck in one of the worst economic declines in a century. Why is it that the stock market can be so out of step with reality when there is so much uncertainty out there? I can’t say I have a clear answer for that, but my theory is that investors are confident that the pandemic is short-lived and a rebound is imminent once vaccines are rolled-out over the upcoming months. It’s also likely a case of investors shopping for bargains as price dips are somewhat routine currently. The economics of construction projects (and the project management software to run them), is not unlike other market segments in that some industries have been hit hard by the pandemic, while others have flourished.
2020 was a year like no other. The entire world underwent a transformation where people, businesses and families were forced to adapt to a challenging new reality. Despite it all, our 4castplus team rose to the challenge and continued to provide responsive and personal support to our valued customers, and continued building and growing 4castplus. Looking forward to 2021, a global sense of optimism is on the horizon as the anticipation of the end of lock-downs and a gradual return to normal promises to kickoff a strong economic recovery. It is valuable for all of us to reflect on the year that past,, so we'll take a brief moment to share a look at some of our 2020 highlights.
Leading Western Canadian midstream company Tidewater Midstream and Infrastructure reported its best quarter to date amid a global crisis. The company has built an incredible business that connects its customers and other stakeholders along the entire energy value chain, but the most recent quarterly results have put an exclamation point on its success.
For the greater part of 2020, the construction industry has held steady amidst a barrage of economic predictions. Short- and long-term projects are still being executed as construction firms proceed with building and maintenance, as permitted by the federal government, strictly adhering to the guidelines to employ ‘essential infrastructure workers.’
It goes without saying that the construction industry is a very important sector of the economy. It involves an array of activities like constructing, altering, maintaining, repairing, and demolishing of buildings. It also covers civil, mechanical and electrical engineering projects.
The coronavirus pandemic may have upended operations and activities across nearly all industries around the globe, but the world's largest project controls event of the year, 2020 Project Controls Expo is moving forward, but in a modified platform. Attendees can still take advantage of all the presentations, technical sessions and networking opportunities – but this year from the comfort of their office or home office. For those who aren’t familiar with Project Controls Expo, it is one of the world's most respected Project Controls event dedicated to its advancement. If you’ve never attended a Project Controls Expo in the past, this may be an ideal opportunity to experience the value and impact Project Controls can have when used effectively. Best part, no travel involved!
Many construction contractors still find themselves buried in spreadsheets and paper – and continue to struggle with slow and manual processes throughout the organization. This is especially true of construction Accounts Payable, as the challenges of approving and paying paper bills introduce a long list of labor-intensive steps that are an ongoing and expensive burden on the finance department. But what if you could eliminate most of those steps by letting your software system take on the weight of organizing and streamlining the accounts payable workflows? Current technology is enabling contractors to move to a software platform that removes the manual processes, paper, file folders and spreadsheets; and replaces all that with a highly connected, real-time workflow that reduces churn and inserts far superior financial controls to ensure what gets paid is correct.
More and more contractors are moving forward with the digital transformation of their field data capture. Moving from spreadsheets and paper, to modern field tracking technology – construction contractors are streamlining their business and improving project success.
In a recent webinar called “Eliminate the Chasing Paper Fiasco”, our 4castplus founder shares how 4castplus can streamline the process of field data capture for your jobsite crews. 4castplus allows your teams to offload the heavy lifting of all the mundane and error-prone clerical work to the system so that they can focus simply on the data that needs to be captured. 4castplus can be preconfigured with all the codes and rates and resource assignments and much more so that your field staff needn’t worry about all those details. In addition, 4castplus helps you to:
Due to the current COVID-19 restrictions that have been imposed on public gatherings and travel, the 2020 AACE Conference has gone virtual. Attendees can still take advantage of all the presentations, technical sessions and networking opportunities – but this year from their own home office. Of course, we would all love to be there in person, but this year we’re all adapting to the current situation to still deliver high quality content, but in a modified platform. For those who aren’t familiar with the AACE, it is one of the most respected organizations on the planet for promoting the cause of best practices in project controls and cost engineering. They provide a deep wealth of high-quality resources for all areas of project management and project controls to ensure projects are delivered on budget and on time. If you’ve never attended an AACE conference in the past, this may be an ideal opportunity to try it out, as being virtual, there’s no travel involved and the time commitments can be much more flexible.