Project-based industries can get, set, grow with eresource Nfra ERP system
Even after understanding so much about Enterprise Resource Planning (ERP) solution and its benefits for project-based industries like Construction and Infrastructure, there won’t be many construction companies that have not thought of going for a marvelous business application like this one.
The intelligent ERP solutions like eresource Nfra for contracting industry involves itself with not only transaction-based processing, but also the projection of detailed cost estimations prior to the efficient execution and delivery of the bid-contract- sale chain, at a systems level, this focus tends drives a number of different and highly-granular business needs.
Today eresource Nfra for contracting industry has been categorized as a high-in-demand ERP solution in India and UAE as well as in many parts of African region like Nairobi and Nigeria. This is because the system has been integrated intelligently with some of key modules that could take your business to new heights.
Nfra ERP system helps overcome challenges faced by project-based industry.
Project Budgeting: Project budgeting is one of the main challenges faced by project based industry. When implemented, eresource Nfra ERP system enables to create, modify, and manage project budgets. You can also compare budgeting to actual and view each change’s impact on profitability.
Time and expense management: The system helps you to track the work and expenses of your consultants when they are out on work. This tracking system will assist you in limiting the travel within the policy limitations as per each project budget. Those completing the projects, can they simply submit time and expense entries and this can be added to the project cost.
Manpower utilization: Intelligent use of manpower can be carried out with the help of Nfra ERP system. Systematic work schedule of employees will improve productivity, profitability, and utilization of each service professional.
Contract Management: Contract management is not only a challenging task but also time consuming. Timely payment to subcontractors will ensure the smooth flow of work, which will enable the project to complete as per schedule. The system will also allow you to take control over change orders, document and payment tracking, and subcontractor disbursements in order to ensure timely, productive, and cost-controlling project completion to boost profitability and client satisfaction.
1. Project estimation (popularly known as Job Cost module)
For construction ERP solution Project estimation it is the most important element. Because all construction projects, such as interior, external, the renovation/reclamation of land or facilities and other developmental values all begin with some sort of overall estimation relating to a project’s total cost.
Construction projects are largely driven by a primary contract. This contract represents a final legal cost/revenue baseline agreement between developer and customer. Hence, certain necessary elements must be estimated in order to establish a desired business outcome including time and materials tasking.
Method of time and material tasking:
Current and archival budget comparisons and storage tasking
Complete audit tracking of all budgetary changes
Job based category management
Actual versus estimated cost comparisons
Variable cost calculations ranging from gross/net revenue, to percentage of completion
Applied calculations associated with cost-of-sales and earned revenue estimations
2.Efficient Finance Management
An intelligent ERP system requires a more granular approach to financial management. Sophisticated construction systems like eresource Nfra includes the following:
Time and billing
GST and other government policy management
Purchase and change order management
Operational inventory management
3.Effective Payroll capabilities
Payroll capabilities in the Human Resource Management module in eresource Nfra ERP system has been extended further, by orienting toward hours-expended versus estimated-cost operations, along with deeply-defined reporting. This modules has been integrated effectively with real-time payroll processing, labour costing, labour cost control reports, taxes, employee insurance, EEO reporting etc.
4. Customer relationship management (CRM)
Customer Relationship Management (CRM) is another useful module in eresource Nfra construction ERP feature for construction companies. CRM is generally used when preparing new quotes, but it can also be used to grow your business. If your ERP CRM contains a sales pipeline, you can manage each client or project according to their proximity to a closed deal. You can also use Nfra ERP CRM modules to maintain contact with owners and developers just as we discussed for suppliers above. Let them know of your successes, wherever they are.
5.Supplier relationship management (SRM)
Like CRM, SRM is another component that help keeping the relationship cordiarl between the company and the subcontractor. Because sending simple feedback to a subcontractor goes a long way toward keeping that relationship strong. The same feedback can be sent to material suppliers too. Everyone prefers to do business with people we like and trust. Make sure subs and suppliers like and trust you by ensuring communication channels are open and active.
6. Project management
Apart from tracking milestones Project Management in eresource Nfra ERP system can be used to generate billings for progress payments. Project management module helps you avoid problems on the job.
eresource Nfra ERP systems for Project based industries have two edges. That’s manage your business today and grow it for tomorrow. So Keep both of these edges sharp.