Although the worldwide construction market is back in growth mode, it is undeniable that running a profitable business in the construction sector was never easy. The increasing competition in the market and unavoidable costs of maintaining compliance with the ever-growing regulations compel construction companies to survive on wafer-thin margins and complete the projects in the quickest time. The numerous unknowns and uncertainties in the project execution make this difficult situation even worse without gaining an instant and reliable snapshot of project performance no company can overcome any such hurdles, i.e., better project visibility leads to better decision making, with a positive impact on your bottom line.
To maximize efficiency, minimize risk, control costs and provide complete transparency to the project stakeholders, it is necessary to manage the entire construction lifecycle in a single system of records. This leads to the thought of adapting to a comprehensive and modern enterprise resource planning (ERP) environment in the business.
In recent years, many leading construction companies across the world have implemented construction-specific ePROMIS ERP system, replacing their intra-organizational, non-integrated applications, or generic ERP software. Unlike standalone business management solutions, ePROMIS ERP gives customers the ability to establish a fully integrated, modern business platform with minimum IT expenditure, maximum operational efficiencies, and advanced reporting capabilities.
Acting as an instrument in re-engineering functional organizations into process-oriented ones, ePROMIS ERP provides two great benefits to the organization
Improved information availability and internal communication: Whether they are project managers, consultants, executives, or team members, all the stakeholders of a construction project need access to project-oriented information which is relevant to them. Lack of a centralized system scatters project-related data in various departments, spreadsheets, files, and standalone software, making it difficult to access information when required. ePROMIS ERP is equipped with a web-based, user-friendly, centralized interface collaborating all project-oriented information from sites, machinery, estimating, sales, accounts, procurement, human resource, and other departments. The information available for various roles can be specified using Role-Based Access Controls, providing the managers and team members with the right information to do their jobs better.
Simplified and streamlined financial operations: Modern construction and contracting companies require more than conventional accounting software to manage complex finances. ePROMIS ERP software’s project-based accounting system not only helps construction companies in cash and accrual accounting, balance sheet, payroll accounting, and cash management but also transforms financial data into business insights. The system also has tools for multi-currency management, automatic bank reconciliations, business intelligence reporting, LC management, and global trade compliance.
Maximum project visibility and control: Excellent financial and operational Business Intelligence tools are essential for an organization to gain control and visibility to all aspects of every project. Built-in BI of ePROMIS ERP enables organizations to achieve financial and operational excellence in construction projects by monitoring performance and job profitability, tracking the percentage of job completion, workforce productivity, and managing customer and subcontractor relationships.
Resource optimization and mitigating budget overrun: Delivering projects on time and on a budget to prevent project delay and cost overrun is a major challenge for construction companies. The controls, schedule, and data analysis functionalities of ePROMIS ERP help companies increase project profitability by controlling costs, optimizing resources, and eliminating non-value-added efforts.
Proper management of the workforce: Employees are the key assets of the construction business, the introduction of contemporary best practices is essential to accelerate organizational growth and employee engagements, which will reduce costs and increase productivity. From the early stages of the recruitment process till the exit interview, ePROMIS brings together all employee records in one centralized database, allowing you to access all employee-related information, perform efficient employee management, and generate accurate HR reports. Employee Self Service system empowers employees with the freedom to access their personal information, payroll details, and send documents for approval, helping them to take more responsibility for their jobs and development.
Operational excellence, combined with greater efficiency, is key to success in this highly competitive construction market. An organization’s ability to meet time and budget goals is its competitive advantage. ePROMIS ERP software allows construction companies to run efficiently from estimation, resource planning, and project costing to the billing of projects, helping you to predict budget, and cash flow troubles.
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