ERP for Project-based Industry
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Efficiency booster eresource Nfra ERP for Project-based Industry
eresource Nfra, ERP for Projects-based Industry is an effective solution for the complex projects and challenges that Project Contracting companies face. The system allows you to work more transparently and project costs are estimated in a more accurate method.
Major challenges faced by Construction Industry
- Material Costs
- Skilled Labour Shortage
- Financial stability
- Reasonable Profit Margin
- Technology Adoption
- Equipment Breakdowns
- Lack of proper Business Plan
Benefits of eresource Nfra ERP at a glance
- Automated administration increases productivity
- Customer-oriented system takes centre stage
- Efficient ERP for mid-sized businesses
- Digital documentation for flawless methods
- Web-based, Cloud-based application
- Mobile-compatible ERP solution
- Work from anywhere, anytime
- Systematically designed modules
- Quick data transfer
- Increase your return on Investment
- Gain operational excellence
Project-based ERP system
eresource Nfra – works beyond your expectation
An integrated information management tool that controls the gathering and sharing of data across departments and functions in order to manage and integrate a business’s operations, supply chain, financials, and human resource activities is known as a project-based ERP system.
eresource Nfra, the most favoured ERP system by construction companies consists of a number of application modules to serve core company functions including finance, sales, marketing, resource and project management, accounting, and human capital management, it also has a single enterprise-wide database. Standardizing business procedures and offering reports, insights, and revenue, cost, and billing control are all made possible by this ERP system. Such a system is valuable because it makes it possible for important data to be evaluated and disseminated within the company in order to facilitate quicker and more informed decision-making.
Why you need eresource Nfra?
This is a concerning scenario, particularly given that businesses are operating in a world of unparalleled change. Using a mishmash of antiquated systems and procedures puts your business at serious risk. The cost of updating and maintaining outdated systems can be very high, as they frequently need expensive programming and consulting expenses for intricate changes and one-time integrations. Since updating to new releases can be somewhat hard, they are frequently several years out of date.
The global consolidation and integration of acquired enterprises is hindered by legacy systems. Due to the inability to see operations globally and the resulting duplication of finance and operations teams, individual business units and regions are not given the assistance they require to thrive.
They may also make it more difficult to create new business models, revenue streams, staff members, or other business models, which could lead to a systemic incapacity to sustain growth.
With an outdated system, adopting new reporting and accounting standards, as well as supporting multi-entry/multi-currency operations, may become challenging or impossible due to the need for costly manual workarounds and consulting expenses to make modifications.
Business performance can be significantly impacted by a lack of data visibility. All levels of leaders need to be well-aware of performance in order to forecast future workforce requirements and spot issues before they get out of hand.
Furthermore, using spreadsheets all the time exposes you to a significant amount of risk in a variety of ways. Spreadsheet accounting depends on human input to guarantee numerical correctness, so even the tiniest error can have a significant financial impact and put your company at unnecessary risk for security and compliance through unintentional data breaches.
If any of this sounds familiar to you, it may be time to replace your outdated systems with a cutting-edge cloud-based eresource Nfra ERP system. This system may assist in automating key procedures, integrating your operational data, and fostering a more pleasant and engaged work environment for your newly hybrid workforce.
Enhances data accuracy and provides new insights
Project-based eresource Nfra ERP system includes robust talent management features in their application to help with hiring, onboarding, paying, and rewarding staff members—who are the main source of value for service-oriented companies. Artificial intelligence and machine learning have been incorporated more recently with the goal of enhancing data accuracy and offering new insights. In order to accommodate remote work styles and organizations, mobile ERP is a critical necessity for today’s hybrid, project-based enterprises with safe access from anywhere.
Project accounting, resource management, time capture, and billing features have been incorporated this ERP software over the years. These days, the system also offers talent management or human capital management (HCM) extensions to highlight the critical role that finding and retaining a talented staff plays in the modern economy.
Important project-based ERP modules are included to support sophisticated revenue recognition rules for time and materials, work-in-process, deliverables-based, % completion, and subscription-based contracts. ERP vendors are introducing innovative new features like process automation, artificial intelligence, and machine learning to expedite account reconciliations and offer cash management, purchase order and invoice analysis, and predictive analytics.
Companies can cut costs and accelerate ROI
Beyond the risk reduction that comes with implementing new software that is appropriate for the job, your company can cut costs and accelerate return on investment by streamlining workflows (automating repetitive tasks, eliminating the need for human data verification, and providing real-time data visibility) and making sure that employees’ workloads are reasonable and in line with their skill and development paths, with less time spent on administrative overheads.
A suitable ERP for
- Construction & Contracting Industry
- Road & Bridge Construction
- Civil Engineering
- HVAC
- Cooling Towers
- Fire & safety
- Renewable Energy
- Industrial Infrastructure
- Power Transmission Projects
- EPC & MEP Business and
- Industrial Piping Installation Industry
Modules
Tendering and BOQ Management
Eresource Tendering and BOQ Management made life more easy for the Project department. The most important factor in the Tendering phase is the provision to update/add BOQ items. Provision to Import BOQ data from Spreadsheet. Using BOQ’s from Existing project or or Manually capturing the BOQ information can be done easily.
Key Features:
- BOQ Import
- Request for Quote(RFQ)
- Tender Analysis
- Open Sales Ageing
- Sales Activity Management
- Project Estimation
- BG/EMD/SD Tracking
- Sales Funnel
- Order Management
- Tendering Dashboard
Job Costing and Estimation
Estimation of all the costs before the start of project is very important in order to have an overview of all the costs that will be incurred and decide the source of from where they will be taken.
Eresource enables you to estimate costs of labor, material and resources down to the cost-center level. It also assists in planning projects and ‘freezing’ resources to ensure availability of assets at the time of need. NFRA allows to compute the project estimate from BOQ very easily. BOQ items pricing are based on cost of material, equipment, labour and overheads.
Key Features:
- Request for Quote(RFQ)
- Project Estimation
Project Budgeting
Income, expenses and savings can be easily managed through NFRA, which forms the backbone of any project.
This module helps in computing the material and other direct costs to the project. It takes the base fare from master into account (base fares are updated from the last completed project).
Key Features:
- Material Budget
- Other Overhead Budget
- Service Budget
Subcontracting Management
Sub-Contractor works with the with the main contractor to supply or fix any materials or goods or execute work forming part of the main contract. Essentially this contractor is employed by the main contractor. Right from Issuing RFQ to Subcontractor against the Work Order (Customer BOQ) up to the Subcontractor Invoice and Invoice Certification can be all managed from this module. Keeping a Track on Subcontractor work progress is just a click away.
Key Features:
- BOQ Import
- Request for Quote(RFQ)
- Tender Analysis
- Open Sales Ageing
- Sales Activity Management
- Project Estimation
- BG/EMD/SD Tracking
- Sales Funnel
- Order Management
- Tendering Dashboard
Purchase Management
Eresource provides ready platform for the users to manage the procurement and RFQ process in a easy and much efficient manner. The RFQ in eresource can be generated against the Purchase Requisition from the SITE Incharge or Store Keeper. Purchases in eresource is managed Project wise. All purchases in eresource is validated against the Budget code. This enables complete control of procurement of material for a project.
Key Features:
- Purchase Enquiry
- Letter of Intent (LOI)
- PO Short Close
- Dispatch Instruction
- What’s App/ Email/SMS Notification/Alerts
- Quote Comparison/Bid Analysis
- Purchase Order
- Manufacturing Clearance
- Purchase Analysis
- Purchase Dashboard
Stores Management
Stores or warehouses are very important for project based industries as these are the places where all the materials and required tools are stored. Material transfer, inward and outward flow of material takes place everyday and thus there is a requirement to track all this flow of material in order to avoid any material loss. Nfra allows you to manage the Inventories of the Central Warehouse and also all inventories at the site.
Key Features:
- Good Receipt Note (GRN)
- Site to Site Stock Transfer
- Supply Demand Analysis
- Tool Tracking
- Stock Statement (FIFO, LPR, Weighted Average)
- Delivery Challan
- Single Project Multiple Warehousing
- Inventory Ageing
- Returnable Material Tracking
- Inventory Dashboard
Accounts Management
Financial Accounting Module is a powerful financial management solution that enables you to manage your entire business profitably. The solution supports multiple currencies as well as complex multi-location business structures so you can better manage your global operations. Financials helps you record, consolidate, and analyze your finances and provides complete visibility into enterprise-wide transactions.
Key Features:
- Project wise P/L
- Project wise Trial Balance
- Project wise Supplier Outstanding
- GST Report
- Consolidated Trial Balance
- Project wise Balance Sheet
- Project wise Contractor Outstanding
- Project Cash Flow
- Consolidated P/L & Balance Sheet
- Accounts Dashboard
Customer Testimonials
I am delighted to share my experience with the successful implementation of the eresource ERP system at Nigerchin. From gap assessment to training and on-time implementation, the eresource team showcased exceptional professionalism and dedication. Their commitment to customer satisfaction, especially for post-implementation support, exceeded our expectations. eresource ERP has significantly enhanced our operations, and I highly recommend them as a reliable ERP partner.
Quality work, and Friendliness is why I am very pleased, we choose to work with eresource ERP – Xcel, and they are professional, quick to response. The understanding of various type of manufacturing dynamics, helped us with rapid development of business needs. We received a great deal of benefits from eresource team, we would have no hesitation recommending to other business of our nature.
With implementation of eresource ERP system our business process are now exactly balanced with the industry best practices and its operating procedures. This makes our business more strong and effective. As an executive of this organization I feel happy today for choosing eresource ERP system as our enterprise solution
One of the main reasons for choosing eresource ERP was the robustness of the system and the flexibility it offered to suit our business needs. We have found it unique and it proved to be the best-suitable ERP system that would match with a unique business like ours.
