2021 Forecasts & the Right Construction Loan Management Software
Although many things are still unknown about COVID-19 and the economic recovery, a recent post-election survey of engineering and construction executives found that 68% of respondents characterized the business outlook for the industry as somewhat or very positive. While many things remain uncertain, here are a few things we can expect in 2021.
Remote Work Isn’t Going Away Anytime Soon
The BBC reports that the majority of workers never want to go back to the old 9-5 model of working in an office. Only 12% want to return to full-time office work, and 72% want a hybrid remote-office model moving forward. This means that even once we’re able to return to the office, it won’t look the same.
This also means that your construction loan tracking and disbursement software need to be accessible and available for your clients and employees wherever they are – out in the field, at home, and at the office. A flexible cloud-based construction loan monitoring solution isn’t just nice to have, it’s now critical for getting work done.
AccuDraw offers the security and speed of a Windows application while using a Web application to provide borrowers, builders, inspectors and title companies the ability to synchronize their efforts with each project by entering and sending non-sensitive data such as draw requests, inspections, date downs, pictures and documents.
Residential Construction is Still on the Rise
According to a report from Dodge Data and Analytics, non-residential building starts were way down in 2020. But, at the same time, residential starts were up 22.6%, the majority of which were multi-family projects with over five units.
This hopefully means there will continue to be opportunities for contractors and lenders alike in 2021. But competition will continue to be tough, and lenders especially will need to stand out by offering clients effective and easy-to-use tools for tracking the construction loan process from start to finish.
AccuDraw can help you stand out by helping you provide borrowers, builders, and inspectors with:
- The flexibility to import budgets in multiple formats
- The ability to easily track multiple sources of funding
- Fully customizable reports
Budgets Are Going to be Tight
Yours, your contractor’s, and everyone else’s. Material supply costs are up. You don’t have time for intensive training or expensive add-ons to your construction loan monitoring software. You need to be able to easily see and track every dollar coming in and going out.
Thankfully, AccuDraw offers free training, guaranteed support when you need it, and the most flexible and customizable construction loan disbursement software out there.
You Need a Guaranteed Construction Loan Monitoring Software
The bottom line? With all the uncertainty, you’re going to need a construction loan monitoring and tracking system that is guaranteed to work and guaranteed to save you time and money.
Ready to get started? Contact us today for a free demo of AccuDraw’s Version 7!