Effectively manage your data with an ERP for constructions
Every business needs to manage an enormous amount of data on a daily basis. When it comes to data management, fragments of data can be found on numerous systems across the organisation if your business is still using manual processes. On the other hand, ERP for constructions can be implemented to organise and gain value out of the data.
Data handling challenges in the construction industry
Unlike many other industries, construction work is more dynamic in nature. Managers have to co-ordinate with the office as well as the construction site for managing their day to day tasks. On construction sites, there will be new challenges every day.
Reporting field data becomes a challenge. There are site managers who may be working on remote sites. They need to focus on the site work while sending out the reports accurately. Senior managers who are responsible for managing multiple sites have to keep track of progress on each site.
In these scenarios, a centralised system with superior reporting capabilities through handheld devices makes it easier for all the team members to gather data and report the data. ERP solutions such as OMNI ERP offer real-time updating and access to data from across work sites and shopfloors via mobile apps.
Total mobility simplifies the process for the personnel who need to update data and the senior executives who need to monitor the progress for keeping the budget and timelines under control. An ERP can hold the master data in a centralised system for all authorised users to access it whenever they need it.
The different types of master data are as follows:
- Item-based data
Every piece of information on an ERP platform is categorised with a list of items related to that specific category. For example, the category called ‘Resources’ can have items such as steel, plywood, cement etc. The sub-category for each resource item can have item names such as ‘Brand’, ‘Quantity’, ‘Unit Price’, ‘Item Code’ etc.
An ERP service provider with the best software for contractors can customise the categories and lists as per your business processes. Specialised ERP software for the construction industry come with flexible modules as per the requirements of the industry.
Some of the industry-specific modules are materials management, vendor management, resource planning, project estimation etc. Customisations can be carried out to align the software with the data management process of the organisation.
- Stakeholder data
Some of the external stakeholders that are part of a construction business are customers, vendors and sub-contractors. New business partners also collaborate with a business from time to time. Giving your stakeholders a platform to perform transactions and access data relevant to them can strengthen your relationship with them.
Digitisation of stakeholder data also makes it easier for your teams to communicate with them, manage the documentation and evaluate your relationships with various stakeholders.
- Financial Data
You suffer from inefficient operations if half your data is computerised and remaining is lying on the shelves in physical files. Also, if the financial data needs to be updated manually, the finance team loses time on manual data entry. Instead, an ERP integrates finance data from different departments through a centralised system. This streamlined workflow ensures that finances can be tracked in real-time.
All the debit and credit transactions take place instantly in an ERP-enabled business. Sales and purchases are also part of financial data vital for businesses. The data can be tracked and analysed. Reports can be generated with a visual representation of data for specific time periods using an ERP.
Taxes and deductions can be automatically incorporated by adding data points for each stakeholder. For example, if you are an organisation with another office in a foreign country, you can add items that take into consideration the import duties or other financial data points relevant to the business and finance laws in that country.
- Personnel Data
Keep track of the details of all your employees including their skills, hourly rate, responsibilities, etc. This data can be integrated with finance and HR for providing employee enrichment programmes, succession planning, etc.
Tracking the employee work hours and automatically calculating the daily wages or salaries saves time and effort of your finance and HR. Collaboration functionality in the ERP system allows your teams to clarify doubts or work on projects through the ERP dashboard.
Do you wish to increase your profitability by streamlining your data with the best construction management software?
A solution such as OMNI ERP will increase your data handling efficiency by helping your business with data migration to an improved business process.