Blogs

Today, the construction industry has become more challenging and competitive. All construction firms are in search of any means to boost productivity, accomplish integration, and stain competitiveness. Enterprise Resource Planning (ERP) system is an Information Technology (IT) business solution that enables construction companies and their contractors to manage capital projects effectively and efficiently throughout the project lifecycle. Enterprise Resource Planning can allow companies to enhance their business processes and allows for necessary management. That’s why ERP can be said a business management system software that can integrate numeral activities in a project & deliver a simultaneous result for bettering performance, reducing cost, and increasing profits. Construction ERP software provides cost optimization, incorporates design changes, consistent quality conformance, Reliable, Faster, and on-time delivery, incorporates value engineering, a Collaborative work environment, and a team tracking facility. When evaluating your potential solution, you will need to understand how the functions will integrate and benefit you but there are 3 core elements that you must ensure are provided. Features for Construction Management: Procurement and controls Accounting Specialized Cost Ledgers Payroll and Labor Costing Plant and Equipment Costing Contract Cost Reporting Business Intelligence Document Management Time and Attendance Systems Human Resource Management Enterprise Accounting Top

Tax Deduction at Source (TDS) & Tax Collection at Source (TCS) To ease financial strain during the COVID-19 pandemic, the Central Board of Direct Taxes (CBDT) announced a 25% reduction in Tax Deducted at Source (TDS) and Tax Collected at Source (TCS) rates. This reduction was effective from 15 May 2020 to 31 March 2021, aiming to boost liquidity for businesses and individuals. How NWAY ERP can Help Simplify Your Processes? Simplify compliance with NWAY ERP. It also helps with updates and integrates these reduced tax rates into your system. This also helps manage seamless applications to relevant transactions, helping you focus on managing your business while staying compliant. Staying Compliant with Tax Changes can be Complex, but NWAY ERP Makes it Effortless. Our System: Automatically updates and integrates reduced TDS and TCS rates. Ensures accurate calculations for all relevant transactions. It provides real-time tracking and reporting for streamlining compliance. Reduces manual effort, saving you time, money, and resources. With NWAY ERP, you can focus on growing your business while we handle tax compliance.

CPM (Construction Project Management) is the activity of managing construction projects. But when it comes to managing a construction project in contrast to other types of projects, the distinction is mostly that construction is target-based and manages resources over the life cycle. Apply various tools and methodologies to control scope, cost, time, quality, etc. CPM (Construction Project Management) is required for simple home building to large complex bridge construction, from engineering a dam build to a road project. Contractors manage the complete process cycle of a project build, often managing on-site to ensure safe, successful construction. Different process in Construction Construction Project Management Tools You need the right tool to manage construction Projects successfully. Nway ERP provides construction project planning, estimating, scheduling, vendor management, procurement & cost management in construction projects, and tons of features to work more effectively & efficiently. When you work with interactive construction ERP solution like NwayERP.com construction project management become much easier. It provides you with a platform on which you can collaborate and provide a platform to your team and the tracking process become easier. NWAYERP has a construction management solution that has the following features. Cloud-Based Gantt Chart BOQ Material Consumed Daily Progress