Importance of ERP in Construction Project Management

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The construction industry is highly disorganized industry. Many organizations in the construction industry are somewhat or highly diversified due to the nature of the business.  It has to deal with other related businesses such suppliers, vendors, subcontractors and clients. With huge involvement of contractors and subcontractors, vendors and workers spread across miles of project site, it become much more difficult to manage all operations at one time which creates problems. ERP software in Construction Project Management will enhance responsiveness in regard to customers, suppliers, vendors and subcontractors.

Construction ERP Software Solution handles all the core functional areas of Construction Project Management, like:

 ·         Sales Management

This module keeps records of each and every action involved in sales process. It keeps track of enquiries, leads, deals, cancellation, complaint details, completion status, agreements & NOC, etc.

 ·         Financial Management

This module takes care of cash-flow, expenses, budgets, taxes, etc. and generates valuable financial reports by gathering data from various functional departments.

 ·         Purchase Management

This module keeps track of material requisition, enquiry, quotation, price comparison, negotiations, purchase orders, material receipts and invoice generation in real time. 

·         Inventory Management

This module maintains record of stock availability. It acknowledge inventory requirements, supervises items usage, render refilling options and give account of inventory status of all the items.

Bussiness Intelligence

 A strongly integrated ERP System bridges the gap between marketing, sales, quality control, purchase, stocks and many more. This will ultimately lead to disappearance of miscommunication and loses. The basic function of construction ERP Software is to amalgamate all departments and functions of the company into a single system that will serve the requirements and needs of all the departments. Thus, an ERP automates business process by making them standardized for whole organization. Construction ERP Software in Construction Project Management will lead to:

·         Improvement in responsibilities with regard to clients.

·         Magnification of organization flexibility.

·         Acceleration decision-making capabilities.

·         Reduction in project completion and cost.

·         Betterment of supply chain partnerships.

·         Integration in Working Environment.

·         Smooth flow of  information from field level to management level

·         Achievement of balanced people, process and technology changes across all areas.

Before finalizing Construction ERP Software you should first consider the requirements of your organization and how efficiently Construction ERP Software will assist you in meeting the challenges. The different software choices often have different strengths and focuses, as well as specializations for certain industries.

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