ERP Software offers a variety of integrated solutions to the construction companies, which supports every aspect of the construction business, like planning, project management, controlling the cost, revenue estimation and resource & budgeting, etc.
Additionally, budgetary control is also very important in this productive and challenging market environment where the use of material resources and a high degree of flexibility in project management requires. There are many benefits an ERP software can provide to the industry, a few of the most important are below,
- Cost Projection
The real benefit of ERP is its ability to forecast costs throughout the lifecycle of a project. The only way to forecast is to get an accurate view of how much has been spent to date and how much will be spent going forward. An ERP solution will help in the proper allocation of budgets and capturing all the costs for a particular task or milestone, which gives accurate information of how much of the budget is consumed and at what stage the project is currently running.
- Project Profitability
ERP software can use to determine the more precise estimation required for raw materials, designs, labor, and the duration to carry out a project. So that the actual costs will not deviate much. In addition, the ERP solution also allows contractors to find out how much revenue or how much loss and profit they get from each project. This way, they will be able to manage the time and costs used for future projects more wisely.
- Increasing ROI
Contractors certainly want to increase their ROI from time to time. ROI are not only measured in the form of money but also considering other aspects,
like reducing manual time-consuming and labor-intensive processes etc.
It also helps to control expenditures for raw materials and employees, reduce IT costs, get rid of unnecessary downtime and meet project deadlines.
- Onsite Access and Updating
Now in modern days employees are moving towards hybrid working. Cloud-based software services enable people to access, capture and process information anywhere and at any time. Although the work can be managed and monitored, the HR department should be easily accessible. This is where the Employee Self Service portal will be helpful, where employees can easily place leave requests, documents or certificates requests, easily check in from customer locations, and manage workflow. The availability of employee self-service portals on mobile or browsers gives flexibility to employees and more than that it is very simple to use.