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Construction glossary
Construction Glossary •
Cloud-Based Software
What is Cloud-Based Software?
Cloud-Based Software, in the context of the construction industry, refers to software applications that are hosted on remote servers and accessible via the internet. Instead of being installed directly on your local hardware or computer, the software applications and data are stored and managed on servers in a remote data center. This means you can access them from any device, at any time, provided you have an internet connection. The use of cloud-based software in construction allows real-time sharing and collaboration on projects, efficient storage of large design files, automated scheduling, accurate cost estimation and improved resource management, thus enhancing efficiency and productivity.
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Other construction terms
Field
What is a Field?
A field in the construction industry refers to a physical area or a project site where construction activities take place. These fields are typically outdoors, such as building sites or highway projec...
Chart of Accounts
What is a Chart of Accounts?
A Chart of Accounts (COA) in the construction industry is essentially a financial organizational tool that provides a complete listing of every account in an accounting system. These accounts are typi...
Cash Flows Statement
What is a Cash Flows Statement?
A Cash Flows Statement, specifically in the construction industry, serves as a financial document that provides a detailed summary of a company's cash inflows and outflows over a certain period. This ...
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