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Feel Empowered With an Integrated ERP for Contractors

Contractors fulfil the greater responsibility of building the infrastructure and fulfilling the various demands of retail, commercial and industrial sectors. Be it general contractors or the ones dealing with mechanical, electrical, plumbing and other contract-based work, an ERP for contractors will lead to better co-ordination and increased transparency among the various stakeholders of a project.

Some of the areas that can get streamlined if contractors utilise an ERP solution are as follows:

  • Contracts

Depending on the scope of a project, the contractor hires sub-contractors, project management consultants and other stakeholders. Manage the quotes, invoices, purchase bills, retention data and other important project details through a single dashboard. Contractors can also control the data accessed by each stakeholder to prevent data access by unauthenticated users.

  • Approvals, task lists and project updates

Create and tick off tasks. Check requests that need intervention. Learn about the work that has already been accomplished by viewing job reports. Review BOQ Work Measurements and project progress through a user-friendly dashboard. An ERP solution such as OMNI uses the latest Microsoft .Net technology and SQL server to build a scalable and reliable portal.

  • Material and machinery

Missing machinery or shortage of raw materials on site can cause project delays. ERP for contractors helps contractors to come up with project estimations for ordering the right quantity of materials for the scheduled tasks. To prevent material wastage, materials can be issued as per requirement in the system. Also, logging information about the movement of machinery with the name of the role accountable for the machinery can expedite material-related problem resolution in a transparent manner.

Monitor stocks or move them from one site to another without worrying about multiple entries or emails to keep everyone aligned in a project. A well-designed ERP user interface gives clarity and updates about each and every movement in the inventory. The integration of finance module in the ERP ensures that even cash purchases are factored in the expenses with all the necessary transaction details.

  • Market Credibility

As the business grows, more and more people want to know how you operate. Your business processes whether good or bad become a case study for others. A successful ERP implementation will be a good indicator of your systematic approach to managing work. Build your market credibility by automating processes for roles and functionalities suitable for your business needs with a tailored ERP. Businesses who want to be future-ready are already planning to shift from their legacy systems to fully automated business processes.

  • Access data on the move

Access to profitability reports and project data on the move is one of the vital features of ERP for contractors India is home to several contractors who have projects running in parallel, across the country or globally. An integrated ERP will present real-time project data of various sites right at the fingertips of project managers who need to monitor the progress of multiple sites at the same time.

The OMNI ERP solution empowers contractors with 12 modules and more than 140 functionalities. For further details, reach the OMNI ERP experts at __________

 

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What are the key differences between EPC and turnkey project companies and why they should use ERP for constructions?

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What are thekey differences between EPC and turnkey project companies and why they should use ERP for constructions?

 

EPC contractors and turnkey project contractors both operate in the construction industry. Are they different or are they the same? Also, is ERP for constructions useful for these contractors? Let’s find out.

 

What is an EPC project?

 

An EPC project covers the Engineering, Procurement and Construction part of a project. Here the EPC contractor designs, constructs and completes a project such as a manufacturing facility.

Example of an EPC project can be the civil work of a railway station or MEP work on EPC contract for an industrial plant.

 

How do turnkey projects work?

In turnkey projects, the client gives the entire risks and project responsibilities to the main contractor. The turnkey company gives a ready-to-use project to the client. Here, the client need not worry about the result and quality of the project as all those risks are covered by the turnkey contractor.

Large-scale projects such as construction of bridges, airports, industrial service facilities etc. are handled by turnkey project management companies.

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4 Business Functions Become More Efficient With ERP Solution ForConstructions

Every construction project comes with a specific budget. To ensure the project is within the budget, you need to prepare an estimate of costs that are involved in the project. ERP for constructions empowers businesses with the systematic project costing, ongoing cost management, performance tracking and vendor management.

An ERP solution for the construction industry mitigates risks related to the budget and does a lot more by taking care of the following 4 business functions:

  1. Project cost estimation:

Project estimates have to include the anticipated cost of unexpected scenarios that lead to project delays and add to expenses. All direct and indirect costs including expenses related to manpower and materials have to be considered. Cost of outsourced work is also part of project estimates.

Earlier, there were manual processes to gather estimated costs that took time and effort.All the components required for automation of the entire project cost estimation are incorporated in an ERP software for construction.

 

  1. Running costs

Although you have estimated the entire project cost using the project cost estimation feature, you need to keep track of the day-to-day expenses to monitor your budget.

An ERP software such as OMNI ERP offers a complete overview of the inflow and outflow of the project through a user-friendly interface. Each and every cost can be entered in an ERP along with applicable taxes and discounts. The greatest benefit here is that you’ll be able to keep your cost under control.

At present, you may be using several tools to manage your project costs such as a project planning tool, project estimation tool, excel sheets, accounting software etc. ERP integrates all these software into a single platform so that you don’t have to save several files.

You may be creating project analysis reports using a presentation software such as MicrosoftPowerPoint.

But, all the required financial reports can be automatically created in an ERP system. You can directly mail the reports or print them using the system from cloud storage. The time saved with automation can be put to better use in more critical activities by your managers.

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Automating Purchase Management with ERP for constructions

In the fast-paced, globalised world of today, you need a solution such as ERP for constructions to take care of your purchase management. Slow purchase order processes can affect your business and impact your profitability.

Let’s take a closer look at how purchase management works in the construction industry and the ways purchase automation can benefit your business.

 

Significance of purchase management in construction

If you are an experienced construction management company, you will be having a purchase policy in place. For small businesses where purchase is managed by a single purchase manager, the complications are less. The reason is there are not too many people involved in the purchase process and projects are less.

However, for an organisation with multiple projects, there is a purchase process for ordering, buying and receiving materials. The purchase department determines the quantity and quality of materials to be purchased. They maintain the records and perform quality checks as per the organisation’s policies.

The purchase team is critical for smooth operations in a construction business. If material of the required quality does not reach the work site on time, then workflow is affected. Workers may not have the sufficient materials to start the work or complete the work on time.

If workers do not have materials, they will be serving idle time on the site which adds to the loss of time and money for the business.

 

Different aspects of purchase management in construction

Generally, the purchase management process in construction-based businesses involves the following aspects:

 

  • Purchase Order

Materials, machinery and other resources are required by various teams in a construction business on a regular basis. Bigger the size of the business more will be the consumption of resources. Imagine if every team’s request for resources is immediately approved without a control system in place.

The entire business will soon be financially unstable. To avoid such a situation, the purchase team evaluates the request and releases a purchase order. The purchase order is an extremely important document for an organisation as it is the official confirmation with the quality and quantity of purchase to be made.

 

  • PO Creation

Although a team has requirement of resources, the approval manager or a team of managers verify the requirement and approve the quantity. If changes are to be made, the approval manager/s modify the quantity and quality before approval and send it to the purchase team.

Earlier, the Purchase Order (PO) creation was a long and tedious process. To and fro of documents led to wastage of time. Also, purchase orders were created using document processing software such as Word or Excel. With the best software for contractors, the whole process got automated.

Every relevant person on the team gets updated with the status of the requirement and approval. Nobody has to follow-up or run from one department to another to get the work done. If the purchase is pending then the platform clearly indicates the stage of approval. Notifications help the team members to review the purchase-related tasks that are pending for the user.

Once all the approvals are done, the purchase team can generate the order automatically on a document with the company’s branding. Secure digital signatures can be used for document approvals.

 

  • PO Dispatch

Many companies still use emails to send out purchase orders to vendors. With an automated ERP platform, the purchase order can be mailed automatically on approval. But another critical feature in an ERP is the vendor portal.

Vendors can submit quotations, receive purchase orders and manage invoices through the vendor portal. What this means is, the purchase teams do not have to keep mailing the PO to multiple vendors again and again. If there is a requirement, the selected vendors can be given access to a vendor portal.

Also, vendors can bid for new requirements. The ERP dashboard can be used to see a quote comparison and analysis by the purchase team. Once the quote is approved, the PO order is created after necessary approvals.

For repeat orders, the automated approval process in the organisation can be used to generate more purchase orders. Here, the best part is every purchase from a vendor can be easily accessed by the purchase team with the status of their payment.

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Utilise the Best Construction Management Software for your business to grab the growth opportunities in the construction industry

Today, every business is data-driven. Are you ready with an automated workflow to take advantage of the enormous data your business is generating? Several businesses are already ahead of their competitors by implementing the best construction management software suitable for their organisation.

The construction industry is diverse with several verticals.  The key areas that operate in the construction industry are civil engineering, carpentry, tunnel work, roofing, bridge construction, scaffolding, industrial furnace construction, structural work, general construction etc.

Futuristic designs lead to more specialised construction departments such as green building solutions, prefabricated 3D components etc. Construction work isn’t final till all the finishing work is done. To provide necessary finishing to the constructed buildings, services required can be ventilation, floor and tile work, gas and water lines, interior decoration and more.

The various verticals of the construction industry add to the complexity of the operations. An automated ERP platform can make it easier to manage business processes. Let’s understand why your business may need an ERP to grow.

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Improve labour productivity with ERP for constructions

In the construction industry, businesses can save millions or even billions by reducing
inefficiencies related to labour. Systematic planning and management of labour through
an intelligent ERP for constructions can be a suitable remedy for improving labour
productivity.

Impact of poor labour productivity

Engineering, Procurement, and construction (EPC) contractors and construction companies require labour services to complete various tasks. Software such as ERP for EPC contractors can help to estimate the exact labour requirement and fulfil the requirement adequately when a project goes live.

Inadequate labour planning leads to poor labour productivity.In such a scenario, here’s what will happen:

  • Projects may get delayed as project managers are unable to match the project timelines.
  • There will be a cost overrun if tasks are not completed on time.
  • Adjusting labour factors will be difficult if an automated software to track and manage labour is not in place.

Let’s find out more about the possible factors that hamper labour productivity in the construction industry.

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