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:
- 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.
- 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.