MYCON
This general contractor lacked visibility into which projects and clients were truly profitable, forcing managers to make decisions based on intuition.
MYCON used Domo to unify its data, automate reporting, and democratize insights across its business.
MYCON doubled its revenue by using data to increase efficiency while launching its own Domo consulting subsidiary.
As a general contractor with nearly forty years of experience, Dallas-based MYCON is responsible for building hundreds of commercial, industrial, and retail projects throughout Texas and across the US. With Domo, MYCON uses data to drive revenue and establish itself as an industry leader.
“Since adding Domo, we’ve more than doubled our revenue. Data played a huge role in improving our efficiency. We’ve been able to see shifts coming in the market that helped us get ahead and be successful,” said Chris Martin, VP of technology at MYCON.
MYCON is an award-winning commercial contractor specializing in industrial, retail, multifamily, and more.
“Domo has all the tools in one place which made adoption so much easier, and we didn’t have to hire a ton of personnel.”
From intuition to data-driven
When Martin began working at MYCON in 2017, he recalls that the company managed its business much as it had since its founding. Project managers and executives relied on paper, spreadsheets, and gut feeling when making decisions that impacted weeks of scheduling and millions of dollars in labor and materials.
“There was no data. I remember asking about the cost of acquisition for a new client, and I got a blank stare. We used to do sales projects based on gut feel, and our ownership would get blindsided when we didn’t come in on the numbers,” he said.
By 2021, Martin had helped transform the organization’s use of data across the organization to digitally capture key financial figures for every project. However, data was still fragmented across siloed applications and project managers, preventing the company’s leaders from easily accessing the insights they needed to optimize the business. This lack of visibility made it difficult to know which clients and projects were truly profitable.
“Texas is a very word of mouth region, where a lot of our business is based on relationships. But some of the clients we thought were A clients based on our relationships turned out to be less committed than we believed,” Martin said.
As MYCON explored business intelligence tools, it discovered that a leading contender lacked the performance the company required, while another tool would require a team of five and at least two years of work to implement. Then MYCON found Domo.
“Domo has all the tools in one place which made adoption so much easier, and we didn’t have to hire a ton of personnel. We were able to keep a one-person team and achieve value faster by making decisions almost immediately,” said Martin. “Visually seeing where everything was at, our pipeline, and our workflows got us moving a lot faster.”
Thanks to Domo’s consumption model, MYCON could make sure data was accessible where it could do the most good. “Data democratization was big for us. Moving to a consumption model let us push the use of data as far out to the edge as we can instead of reserving data to just the people who have a license.”
Real-time visibility into pipeline and risk
MYCON uses that unprecedented access to data to let everyone from the CFO to on-site project managers monitor how projects are going and their impact on the bottom line.
“We can easily compare estimates to actuals to see if we got it right. We can also manage work in progress to know what's in the pipeline, what we are building, and where projects are in their billing cycle so we can better anticipate how much revenue we’ll earn in a given month,” Martin said.
Automating data collection helped its project managers each save roughly six hours per month collecting for monthly reports. “They had to sit down and go through all their invoices, all their pay apps, all the things and figure out where they were at. That’s fully automated. Now they just do their job every day and show up to those meetings with that dashboard,” Martin said.
MYCON also uses Domo to reduce risk. For example, when concrete was in short supply during COVID, the team began tracking concrete yards poured as a proxy for when it could bill for completed project milestones. It also built a dashboard to manage subcontractor workload.
“If you give someone too much work and they get over their skis and collapse, we’re on the hook for the contract when they can’t perform the work. Now we can make sure we distribute the work so we aren’t too exposed to any one subcontractor.”
Sharing Domo expertise with the construction industry
As MYCON’s expertise with Domo deepened, the company realized it could help other contractors achieve the same transformation. As a result, it created a separate subsidiary company to deliver Domo consulting services tailored for the construction industry.
“I am most proud that we got so good at Domo that we turned around and started offering it to other construction companies,” Martin said. “One CEO at a large general contractor told us, ‘I’ve been trying to do this for two years, and you guys came in and in 90 days completed it for us.’”
“Domo’s not just internally valuable. It’s valuable to the industry. We’re helping other people find those same truths and make them more efficient.”
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“Moving to a consumption model let us push the use of data as far out to the edge as we can instead of reserving data to just the people who have a license.”
“Domo’s not just internally valuable. It’s valuable to the industry. We’re helping other people find those same truths and make them more efficient.”
