Those who have worked in the construction sector for a long time are aware of the difficulties that come with a limited budget and a set deadline. Unexpected events, on the other hand, frequently occur, throwing existing plans out the window and prompting workers to create a new timeline and margins for the project. Construction companies need to know that they can rely on their enterprise resource planning software to get their projects back on track when efficiency is threatened.
What is Enterprise Resource Planning (ERP) Software?
ERP software is a business solution that uses data from various construction processes such as accounting/financial management, contractor management, equipment/inventory management, human capital management, project management, vendor management, bid management, Customer Relationship Management (CRM), scheduling, submittals, asset management, and more to provide powerful analytics.
ERP Software Features
Construction ERP software combines multiple software systems into a single comprehensive solution, giving project managers the capabilities they need to efficiently manage a project’s entire lifetime, including:
- Estimated costs
- Management of bids
- Management of contracts and purchase orders (POs)
- Timetables for projects
- Inventory control is important
- Management of facilities and equipment
- Drafts, RFIs, and RFPs are all part of the document and workflow management process
- Monitoring productivity and performance
- Processing of human resources and payroll
Because faulty accounting, scheduling, and document management software can stymie the pace of construction projects and the company’s growth, communication between these modules is critical. The consequences of having non-integrated technologies and software solutions grow increasingly damaging to the construction project as unanticipated scenarios develop.
Role-Based Access Control (RBAC), user provisioning, electronic identities management, real-time monitoring, audit trails, firewalls, and network encryptions are just a few of the custom ERP security methods that help safeguard and limit access to sensitive corporate data.
Construction managers need customizable dashboards with integrated data visualization and data analytics elements on a regular basis, and they become even more important during times of crisis.
In today’s market, there are a plethora of construction ERP systems to choose from. However, not all of these off-the-shelf goods can be simply customized to match the unique requirements of each industry and firm.
Construction organizations may have a tougher time overcoming challenging or unforeseen scenarios if ERP systems are not properly implemented and customized.
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