Woman in Construction: Construction Tech with Carolyn Chasteen

Overview

Carolyn Chasteen worked with a homebuilder in Denver on integrating best-of-breed applications.
That work led to an ERP system that is still used 25 years later.
She later helped create another fully integrated ERP platform for residential homebuilders.
Her current goal is to convert the existing customer base to a new ERP solution over the next two years.
She also plans to sell and market to homebuilders in the Northern United States and Canada.

She says construction has been underserved by technology providers.
She says construction companies want trusted advisers who understand their business.
She says women who understand planning and financial reporting have an open door in this industry.
She describes construction accounting as specialized and requiring a unique skill set.
Her guiding principle is: “we work with our customers, not for them”.

She worked with a California builder using Excel spreadsheets and QuickBooks.
During ERP implementation, the team found the builder was losing money on almost all homebuyer options.
After changing option pricing, net profit per lot increased from almost 14% to 17.5%.