4 Best Features to Make Your Construction ERP Futureproof

This article is going to highlight a few key features of a construction ERP that are going to make your ERP software futureproof. Read on and make your construction business successful.

 

In today’s tech-savvy era, the well-planned construction facilities help in various aspects of technological advancements, the field of architecture, infrastructure and in the overall development of the nation. Facing challenges and demands while running such a business is quite obvious and with the right Odoo ERP solutions, handling all these challenges become easier.

 

For the effective development of a construction project, proper resource planning and management is very crucial. Any inadequacy in these fields might be the reason behind a business failure. Hence, adopt an ERP software and let your business flourish in the most successful way.

 

You may wonder what if you adopt an ERP system now and when your business expands and grow it becomes obsolete. Well, here is a list of some features of a construction ERP software that will make the ERP solution futureproof along with creating the maximum business value.

 

Flexible Accounting

Other than typical AR, AP, GL, and various inventory functions, a construction ERP software needs to take a granular approach to the financial management. A sophisticated ERP solution dedicated to the construction business should include the following functions as well.

• Contractor indexing
• Contracts management
• Vendor indexing
• Time and billing
• Materials management
• Taxes along with federal/state policy management
• Operational inventory management
• Equipment management
• Purchase and the change order management

 

Equipment and Materials Handling

An efficient ERP system for construction business should be able to manage as well as account for the various equipment ranging from the hand tool processing to the host operation and identification of the heavy equipment assets such as

• Bulldozers
• Dump trucks
• Special hand tools powered by the engine
• Water trucks
• Earth Movers
• Asphalt trucks
• Road graders
• Trailers
• Large, mid-sized, and small cranes etc.

 

Granular Payroll Facilities

This is beyond the standard payroll processing. What extra would it offer? Well, in this module, you can get the detailed report of the hours expended vs the estimated cost of the operations. Some specific and beneficial functions of it include

• Labour costing
• Payroll processing in real-time
• Reports on unit cost
• Summary of the labour cost analysis
• Reports on the unit productivity
• Insurance
• Tax
• Union reporting
• Reports on the direct labour cost control
• EEO reporting
• Consolidations of on-demand project cost and revenue
• The capability of multi-project check etc.

 

Detailed Financial Reporting

Here is the list of the advanced financial reporting functions that should be a part of an efficient and sophisticated construction ERP.

• Granular asset tracking
• Maintaining the balance sheet by corporate/project entity
• Managing the liability as well as equity by corporate/project entity
• Analysis of the maximised resource utilisation
• Profit and loss management by location, unit, project manager or product mix etc.

 

So, integrating these aforementioned modules and features make sure your construction ERP software will never become obsolete with the business growth. Depending on your business demands, you can customise the functionalities of an ERP software. First, analyse your business processes and note down the shortcoming you are facing. Now, do your market research and look for a trusted ERP partner.

 

Odoo is an all-in-one business management software that offers revenue-driven customised ERP solutions to diverse businesses. So, look for such a trusted ERP partner that builds customised ERP for small business along with large enterprises.

 

Rob Stephen is a veteran Odoo developer, who is presently associated with Envertis, an Odoo ready partner and one of the best ERP software companies in Australia. He has years of experience on ERP system and is currently leading an efficient team that is dedicatedly devising ERP solutions in Australia for diverse businesses. He loves to share his thoughts on this ERP industry by penning down interesting articles. To check out more such interesting and informative write-ups, visit the official website and follow the LinkedIn page.