2020 turned out to be a great test for Construction Industry Companies, which, according to the Office for National Statistics, did quite well in the times of the widespread Covid19 pandemic.
‘Construction output grew by 1.6% in the month-on-month all work series in February 2021, because of a 1.5% increase in new work and 1.9% increase in repair and maintenance; this was the highest monthly growth in all work since September 2020 when it grew by 1.8%.’
Are you wondering how all those companies survived the pandemic?
They evolved! They witnessed changing environment, searched for the right solution and transformed! The basis of this good prosperity for the Construction Industry was the ability of the Construction businesses to capitalise on technology advancements.
Thanks to adequately organised information in the form of an ERP (Enterprise Resource Planning) system, constructors combined all enterprise resources in one solution. The ERP system allowed those constructors to implement managerial functions in all company’s functional areas as well as in their primary financial support areas.
How does it apply to my Construction Management?
The main task of ERP for the Construction Industry is to generate comprehensive financial analysis for top management needs providing the Construction Company with information about employees, machinery, investments, services, orders, material deliveries and the current work status.
Moreover, the ERP System supports specialised functions, such as managing structural and technological changes, quality management, repairs, service, and reports.
But Most importantly, it saves you time, money and energy, making it easier to run your business and keep track of all business activities within one place!
Having the information enables constructors to tie all company operations, allowing constant insight into the company’s situation within all its areas. The system developer can flexibly adjust the software proposed by the ERP company by creating additional functionalities suitable for your construction business.
What should you ask the Developer to add to your ERP system?
The ERP system should provide you with the following abilities:
- Analyse your profit / budget and committed costs by client / project manager / project
- Integrate Payroll Software with your timesheets for labour and post into your projects
- Analyse costs against a project or phases / sections in a project
- Check spending against budgets
- Raise Purchase orders for suppliers and sub-contractors
- Record Delivery of materials on-site
- Record Purchase Invoices against deliveries and purchase orders
- Submit your CIS returns to HMRC
- Verify new sub-contractors on-line
- Control and report on both Sales and Sub Contractor Retentions
The world is developing. What was once good is no longer enough. In the age of the Internet and the growing number of consumers on the Construction market, a well-functioning company grows with new trends. Through connected technologies, knowledge about the market, customer needs and trends, you can boost and develop your construction business 10 times easier!
All you need are the right tools and a great ERP developer!
Do you want to know more about ERP for the construction industry? Nothing easier than to check https://www.qmulus-solutions.com/index.php/sage-for-construction/ and see for yourself!