Category: Construction ERP System

The use of construction ERP software offers various solutions with benefits and can prove to be highly beneficial for your business growth and increasing productivity. The right customized Construction ERP Software helps your business to significantly improve Financial Management, Purchase Management, HR & Payroll, Manufacturing Accounting, Store and Inventory Management, and Service Operations in a single central database.

Hence the possibility of error is minimal, thus improving quality, accuracy enhanced which gives better output in construction business management. But choosing the right ERP software for construction business growth can seem a very difficult task. So today we will learn a few points that will guide you to choosing the right ERP software for your construction business.

• User Friendly or Responsive Dashboard

A responsive dashboard is very helpful in managing the business process. If the software is responsive we can easily access each & every record about the raw material and inventory history and get the statistics with just one finger swipe.

• Unlimited User Access

Many ERP software charges for each user to access as everyone in the business cannot use this software at every construction site. When selecting the software for your business, you should check out the Unlimited Users feature, so that you can access as many users as you want in your business

• Reporting and Analysis

Proper planning is very important for the growth of the construction business and reporting which helps you a lot in planning. Based on these reports you can grow your business and make it more productive. So, while selecting your ERP software, check the report properly whether it is giving all the information of your business properly or not.

• Generation of Invoices

Another key feature of ERP Software is its ability to generate accurate invoices. Software-generated invoices will reduce the chances of errors and time as compared to manually generated invoices. Generating automated invoices helps in building customer trust instantly. So, while selecting your ERP software, check the invoices generated by ERP software.

• Manage all the Construction Site on Single Dashboard

Every company has around 10 or more clients & a number of construction sites to handle, but when it comes to managing all these construction sites simultaneously, then it becomes a very difficult task. So, while selecting your ERP software, you should look at how many construction sites you can handle at a time.

The above all are its primary features that can help you choose the right ERP software, if you look at all these features and select the software for your business growth, your business will grow very fast.

If you are looking to get the Best Construction ERP Software for your business, then we are here to provide you with the best ERP software for contractors & builders. Apart from the above features, our software also has many features which take your business forward. You can click on this link to read our ERP software features.

In the construction business, managing stock and inventory is a very difficult task, even sometimes we don’t understand that our stock is about to run out or it gets exhausted and due to this our construction work stops. If you want to avoid this kind of problem in your business, use our best Construction ERP Software system to manage stock and inventory. With the help of this ERP software, you will never face such type of problem in your construction business and your work will never stop anymore. So today we will learn about this ERP software and how it can help in your business to manage stock and inventory so that you will never face the problem of stock.

1. Execute Your Plan

With the help of ERP software, you can manage your material or stock inventory according to you and execute it as you planned. Inventory management is the planning and controlling on all the effort required to manage stock inventory and ensure that the correct quality and quantity of stock and material are properly specified on time, received at a reasonable cost, and available at point of use when required. Poor inventory management can increase the cost of construction but with the help of ERP software, there can be considerable savings in project cost.

2. Material Financial Planning

• You can view multiple stocks from your single dashboard and at any location so that you can keep an eye on your stocks at all times.
• Avoid redundancy by forming items, item groups and item racks one time and reusing across multiple construction sites.
• Define transportation rates and store sections to estimate and budget with predefined units for items. Plan and build your vendor list as per priority for proper evaluation and selection.
• Materials can be scheduled for work orders in the machine in the store section.

3. Material purchase schedule

• Determine the use and distribution of materials by understanding the needs of multiple departments through a centralized system.
• Multilevel role-based authorization system to improve the objective behind material requirement and prevent wastage of material and cost.
• Define stock inventory timelines and alerts for approving and rejecting content requests to increase the productivity of project completion.
• Avoid wastage and increase efficiency by accessing multiple store databases from a single dashboard for reusability of materials and reduce project costs.

4. Material Supply Chain

• The ERP software will inspect the received items based on predefined parameters and generate GRN and send it wherever it is desired.
• Analysis report with the help of ERP software like Waste report, Monthly item comparison, GRN report, PO report etc and it is designed to ease the process of inspection.
• Simplify the process of material transfer and storage by pre-assembling items rack in-store at multiple locations using a seamless database.

These were some of the Inventory Management features of the software that keep complete information about the stock of your construction business and also give you alerts so that your construction work will never stop.

If the business is managed properly then its productivity can be increased a lot, but it is not easy to manage businesses. But now there is a solution to manage our business, for this you can use our ERP System for construction company.

Nowadays, there are many Best Construction Management Software System in India, and not every software is the same, some features make it different from others, and many software provide a lot of features, making it very easy to manage our business.

Similarly, Nway Technology also has its own ERP software which is different from all the ERP software available in the market. But what is its special feature that makes it different from other Construction ERP Software, today we will discuss them and learn about it in detail?

1. Unlimited Users

The biggest feature of Nway Technologies ERP is that it gives you the license to use it for unlimited users, and you do not have to pay any extra charges or any hidden charges. Once you get the ERP package, you can give access to as many users as you want. Nway Technologies construction ERP software handles unlimited users and assists each and every customer through their journey of using Nway ERP.

2. ERP Software for Project Management

Every company has more than one client or says that they have at least 10 clients but when we talk about handling all these clients simultaneously then this task becomes very difficult for us. But with the help of Nway technologies ERP software, you can handle all these projects simultaneously in a single dashboard and you can create and implement all your plans for the construction sites and increase their productivity.

3. Reporting and Analysis in ERP System

Proper planning is very important in business, without planning, we cannot manage the business properly and also cannot make it more productive. Reports help you a lot in planning and based on these reports, you can manage your business properly and make it more productive. Nway construction ERP software system gives you accurate reports and analysis as compared to all other ERP software available in the market so that you can manage your business properly and make it more productive.

4. Best Construction Accounting Software

The work of account management in business is very difficult and many times in the construction business it is not known where we have spent more money than necessary. If you do not want to face this type of problem in your business then use our ERP software to manage your accounts and see reports of every transaction that takes place in your account. In this, you will know where to spend money and where to spend less money due to which your transactions will go very smoothly and you will never have to worry about the account.

Apart from this, we have many features which you can read by visiting the link- Nway Construction ERP Software Features.

Here you will find many such features, which makes it better than other software, fill out our contact form if you want to increase productivity or to manage your business.

There are two types of work, one is hard work and one is smart work, everyone knows the difference between these two, but do you know how to use smart work to increase productivity in the construction industry? It is very important to use smart work because only by doing smart work we increase the productivity of the construction industry. But how do we use smart work to improve productivity in the construction industry? One of the biggest problems in the construction industry is how to manage construction. If construction work is properly managed, we can greatly increase its productivity. This article talks about 4 ways in which ERP Software can help you improve construction productivity.

How to Improve Productivity in Construction Industry

Improving construction productivity is critical for fulfilling project timelines, saving money, and overall efficiency. When there are numerous stakeholders, complex procedures, and time-sensitive operations, it is critical to develop productivity-boosting solutions. This article examines significant techniques to increase construction industry productivity, such as good project planning, the use of technology and automation, cooperative promotion, resource allocation optimization, and investments in training and skill development. Construction organizations can boost efficiency, minimize procedures, and generate better project results by implementing these tactics.

4 Ways to Improving Construction Productivity-

Improving Accuracy & Efficiency in Construction

The more accurate your report and information about your work, the more you can analyze your work to increase productivity, ERP software gives you accurate reports so that you can get accurate information about construction work. In this ERP software, you can manage raw material information, and worker’s information such as what time they came to work and how many hours they worked, and also provide accurate work reports, etc. With Nway ERP you can get accurate reports as per your needs at your fingertips.

Exchange of Information at Every Construction Site Improve Productivity

The construction company has many clients and it is necessary to monitor each construction site, it is inefficient to manage and compile data for many tasks in Excel sheets or PowerPoint and it is very confusing and data is not secure. Construction ERP Software allows access control for authorized customers to get all the information from anywhere across the construction site. It avoids the unnecessary time, cost & waste of money during the project duration. In this, our data is also very safe because it uses firewall security. Nway ERP takes utmost care while dealing with its customers’ data.

Cost Management in ERP Software:

Every construction company has many clients and most of the construction clients work on a contract basis, that’s why every client has a different budget, in ERP software we can manage every finance-related work so that we have no need to hire someone to manage our finance-related work and it saves us a lot of time. With ERP software, we can make accurate estimates so that no construction project goes beyond the budget.

Optimize Project Management

If we want to manage our construction project, ERP software can monitor and manage your information and provide accurate analysis of raw material, manpower utilization & construction sites. These are the primary reason to use ERP software in the construction industry, with the help of these uses we can surely increase our productivity in the construction industry.

How to Improve labor productivity in the construction industry

Improving labor productivity in the construction industry is crucial to enhancing efficiency and completing projects on time and within budget. One useful technique is to improve personnel planning and management. This includes accurately evaluating project requirements and ensuring that an adequate number of trained individuals are available at each stage. Streamlining team communication and coordination can enhance output by eliminating delays and preventing rework. Furthermore, providing workers with adequate training and skill development opportunities enables them to do their duties more efficiently. Investing in modern construction equipment and technology, such as digital tools and automation, can increase workforce productivity by eliminating manual effort and improving precision. Construction organizations may unlock the full potential of their workers and reach higher levels of production by employing these methods.

Conclusion

In conclusion, using ERP software for improving construction productivity can be quite advantageous for the construction sector. ERP software may help construction organizations save time and money, and boost efficiency through precise and effective reporting, improved information interchange between construction sites, cost management, and optimized project management. The advantages of ERP software can help the construction sector increase efficiency and profitability.

Hit the [Request Demo] button to learn about Nway ERP and avail all the above benefits to increase efficiency and improve productivity in your company.

Every company explores ways of simplifying its processes, minimizing costs, and maximizing profits to remain competitive, something that is more evident in the construction industry. With the evolving demands of the customers and many other issues changing the business world, construction companies are facing several challenges.

Construction ERP software helps managers to devise comprehensive plans for successful civil engineering of projects from the onset of project work till the outcome and during the entire construction life cycle.

ERP software offers a variety of integrated solutions that support all aspects of the construction business, from planning, project control, to cost and revenue estimation. The following are five main benefits of ERP software in the construction industry:

Optimize Planning

Improper planning processes can lead to project failure. Contractors can sustain heavy losses in the form of labour costs and loss of clientele because of the completion of targets in a given time. An ERP for a construction company can provide you with accurate planning of raw material, human resources, design & other resources required for successful project completion. Nway provides excellent Project planning with this ERP solution specifically designed for Road construction projects.

Customizable as per your Business Needs

The flexibility features of ERP improve its ROIs. Since every establishment is different with varying business needs, various functions and customizable features can be added or adjusted in the application to make it the most effective solution that fulfils the individual organization’s requirements. With Nway ERP, your organization can get the best custom-made solution suited for your construction business processes.

Real-Time Project Tracking

The advanced construction ERP software solution provides reliable analytical reports from real-time data and it allows the construction head to track ongoing project progress and take necessary action in case of any variance. And therefore, construction ERP software helps in reducing risk, unnecessary time as well as improving the efficiency of work.

Streamline Operations

Any construction company would be dealing with numerous processes on a daily basis and handling more than one client become quite tedious and confusing. One of the major reasons to implement an ERP system is to automate operations and track them to save time, improve data accuracy, and reduce human errors.

Simplifying the Exchange of Information

Tedious data sharing is inefficient and not secure as large construction firms handle more than one customer. Sharing large amounts of information within departments is time-consuming. A good ERP system ensures easy data sharing with the help of the tools offering a high level of security. Contractors are able to set viewing restrictions for both their customers and workers.

Nway ERP provides the best ERP software solution for your construction business to acquire all the above benefits and fulfil your construction business needs. If you are looking for an ERP software to help you to build your construction operation, it’s time to fill out our demo form and consult our 15+ years of domain experts.

The COVID-19 pandemic is not stopping our businesses Instead it has enclosed the new state of work. With the power of cloud ERP technology, we have ensured business continuity, which means we are easily accessing our business systems from anywhere at any time and working in isolation without being Isolated. Cloud data has become more secure than ever.

In fact, it’s been around for decades, and the many benefits of working remotely have already been felt by both sides of the business equation: flexibility, time-savings, increased job satisfaction, less stress, enhanced creativity for employees; higher productivity, reduced operating costs, fewer geographical restrictions for hiring new employees, and lower turnover rates for employers.

In this article though, we will focus on the cloud-based ERP solutions by looking at their benefits to the businesses, considering the ongoing pandemic.

Nway ERP Cloud-based Software for Construction, Real estate, Malls, Mines provide complete solution.

list of benefits.

• Cost Saving

  Cloud-based ERP software mainly consists of a monthly or subscription service. Since the system is run through the web, the business owner doesn’t need to invest in physical assets, which means you are saving money that could be directed to other areas of the business to fight the effects of the pandemic on your business. Remote workers can use ERP because they need a single source of real-time, accurate data. The system effectively reduces administrative and operations costs by allowing employees to manage business activities proactively and help them make the right decision quickly.

• Social Distancing

  In remote working, workers may distance themselves from social interactions and gatherings in the offices as one is having precaution in the current pandemic.

• Improved Communications

  To finish their daily tasks, ERP is accessible even for remote workers. It offers easy access to information wherever the employees are if there is a reliable internet connection. Employees from several divisions can communicate with each other because they have the same information on a real-time basis. They experience a boost in their productivity, and they can collaborate efficiently without waiting for accurate data.

• Flexibility

  Cloud-based ERP software is also flexible in that the backup is automated. And if there is an occurrence of natural disasters, the systems give an inherent plan for restart since production data, as well as the production system, are still available and accessible. When you compare with on-premise ERPs, businesses have to send data to manually backup the data or send it to a reserve site to realize the same benefit.

• Increased ERP Performance

  In the case of an on-premise ERP solution, you need to properly set up and maintain everything needed to function efficiently. But with a cloud-based solution, the provider will be the one taking care of hosting the solution. And with the knowledge that your system is being maintained by an expert not only gives you some peace of mind but you are also assured that your ERP should perform at its peak performance. This is exactly what your business needs to have considering all the other disruptions that have been experienced due to the pandemic.

At Nway Technologies Pvt. Ltd. we offer ERP services at its best and our skilled Network engineers handle all your cloud-based data safely, securely and with faster ERP performance. We are committed to non-disclosure of any of our client data.

The timely stocking of goods is the critical function of construction. Construction companies may successfully and efficiently manage their inventory with the help of construction inventory management software. Through the use of this software, firms are able to lower costs, boost productivity, and boost their bottom line by streamlining and automating the ordering, tracking, and management of construction materials.

Integrating the inventory module with finance and purchase enables the ERP system to generate high executive-level reports. Without the need of manual procedures or manual data entry, this software assists in tracking and monitoring inventory levels, stock movement, and stock availability. The software can also assist contractors in identifying potential cost-saving opportunities and improving their forecasting of stock needs.

Construction Inventory Management Software focuses on the below aspects:

Monitors inventory levels

Monitoring inventory levels entails keeping track of the number of products or supplies that a company keeps on stock. This can include supplies used for manufacturing or selling things, such as raw materials, objects that are still in the production process, finished goods, and more.

The goal of keeping an eye on inventory levels is to make sure a company has enough product on hand to satisfy customer demand while also preventing overstocking, which can result in waste and higher carrying costs. Businesses can streamline operations and increase profitability by keeping an eye on inventory levels frequently and modifying inventory management procedures as necessary. This could entail implementing just-in-time inventory practises, using inventory management software, or developing other techniques to enhance inventory control.

Alerts when stock is low

Low stock alerts are notifications that the system sends out when a product’s inventory levels drop below a specified level. This can assist companies in managing their inventory proactively and preventing stockouts, which can result in lost sales and disgruntled customers.

Suggests re-order quantities

Inventory management systems provide the ability to recommend reorder quantities, which can assist companies in maximising their inventory levels and lowering carrying costs. The system may recommend a precise re-order amount based on elements like historical sales data, lead times, and safety stock levels whenever stock levels for a specific item or product fall below a certain threshold.

Automates purchase orders

A feature of inventory management systems that helps simplify the purchasing process for firms is the automation of purchase orders. The system can automatically create and submit a purchase order to the supplier when inventory levels for a specific item or product drop below a predetermined threshold. This can speed up the process and lower the chance of mistakes that come with manual purchase procedures.

Increases visibility

Increased visibility is one of the main advantages of inventory management systems. Businesses can get real-time visibility into their inventory levels, sales patterns, and other key performance metrics by utilising an inventory management system. This can assist companies in making data-driven decisions, streamlining their processes, and boosting their profitability.

Labels pre-committed inventory (production work order, customer)

Labelling inventory that has already been committed to a particular purpose, such as a manufacturing work order or a customer order, is known as the practice of applying certain labels or identifiers to pre-committed inventory. Businesses can simply track and manage their inventory in real-time and make sure they have adequate stock to complete their commitments by labelling pre-committed inventory.

Supplies detailed inventory history

Businesses can gain useful insights into their inventory operations by providing a thorough inventory history. Purchase orders, sales orders, stock changes, and inventory transfers are all included in the inventory history.

Tracks & traces materials used

Inventory tracking and traceability is crucial, especially in the construction business. Businesses may effectively maintain their inventory levels and make sure they have enough raw materials to meet production demands by tracking and tracing the products they utilise.

Construction Inventory Software Helps Control & Waste Management

To manage their inventory, equipment, and supplies, contractors can benefit from using construction inventory management software. The software can assist in managing inventory across numerous task sites, maximising asset utilisation, and minimising excess inventory. Contractors may make informed decisions regarding purchasing and waste management through real-time data on inventory levels and usage. The system can also minimise loss and avoid on-the-job theft. In the end, using technology and utilising construction inventory management software may enhance budget management and save time and money.

Real-time information from the inventory item record, including:

Stock status by location

The phrase “stock status by location” describes the quantity of a certain product or SKU (Stock Keeping Unit) that is kept in stock at a single site or a collection of locations, such as a warehouse, retail space, or delivery facility. Businesses can monitor the availability of their products at various supply chain nodes and take well-informed choices regarding inventory management, restocking, and order fulfilment by tracking stock status by location.

POs (with drill-down detail)

Purchase Orders (POs) are used in construction inventory software to track the acquisition of inventory items from vendors. A purchase order (PO), which specifies the specifics of the transaction, including the amount, price, delivery date, and terms of payment, acts as a contract between the buyer and the vendor.

Bill of Material (BOM)

The document that specifies all the inventories, raw materials, and components required to execute a project is called a BOM. Engineers and contractors use the BOM to make sure that all the necessary components and materials are present during production.

Other features of Our Construction Inventory Management Software:

Complete visibility of your inventory

• Quickly glance at available stock while receiving new order
• Prevent shortage of critical raw material
• Use barcode to achieve end-to-end item tracing.

Track your Purchase & Sales Transactions

• Get a timeline view of every activity in sales and purchase.
• Post comments in real-time and tags your team members.
• Faster documentation and proactive tracking to keep you ahead of deadlines.

Your all-in-one dashboard on the cloud

• Track the overall health of your business in real-time.
• Keep an eye on your quotation to order conversion.
• Get timely payment by automated notifications and reminders.

NWAY ERP has designed its Construction Inventory Module to help construction companies finish projects within budget and time. We have developed each module to work in sequence and provide the best ERP software to help customers.

Concerns in Construction Industry

Many construction businesses have reported the following difficulties they face, and what keeps them away from reaching a fruitful revenue.

• Poor Workforce Management
• Shipment Delays
• Bad Inventory Management
• Improper Reporting & Analysis
• Miscommunication
• Wastage of Resources

Benefits of Construction Management ERP Software Implemented by NWAY Technologies:

• Contractor Management

  Construction ERP Software can boost performance according to the need of your organization with customization. Create a centralized database of all qualified contractors across the organization and monitor contractor project progress and efficiently assign/monitor tasks through automated notifications and insights.

• Planning & Estimation

  Be prepared for unforeseen changes by analysing previous reports to realizing the repetitive constraints. Mark your budget limits with timely alerts on exceeding limits. Ensures a project is achievable, measurable, specific, relevant and in the bound of time. Share the planning and ideas with customized groups in a centralized system making it a more Accountable and organized system.

• Project Management

  All sites centralized in one place, keeping track of all the task going on various sites eliminating pending culture in your organization leading towards a healthy project life cycle. Whatever department is, allot group task, and set timeline and budgets achieving bigger goals. Go as per plan and receive timely pending task alerts and delays in the life cycle of the project.

• Inventory Management

  Materials Management (MM) is the system for planning and controlling all of the efforts necessary to ensure that the correct quality and quantity of materials are properly specified in a timely manner, are obtained at a reasonable cost and most importantly are available at the point of use when required. Poor materials management can result in increased costs during construction. Efficient management of materials can result in substantial savings in project costs.

Nway construction ERP software is a web-based construction ERP software that takes on the role of ERP software to assist contractors and Project Managers with their daily construction operations. We are one of the very few products in the construction market that has built-in Business Intelligence to promote positive ROI and Lean technology to control cost overruns and project resources deviations.

If you want better insight into how we can boost your enterprise potential, you can go with a free, detailed and personalised DEMO of Nway construction ERP Software.

ERP (Enterprise Resource Management) is an integrated process of gathering and organizing business data through a consolidated software suite. Construction ERP Software helps managers to design comprehensive and extensive plans for successful engineering of projects from the beginning of project work till the outcome and during the entire construction lifecycle.

Construction Software has been customized in different sectors including sales, material management, tendering, purchase management, general contractors, and many else. ERP Software is an advanced technology software that combines all construction business processes like accounting, payroll, purchase management, inventory management etc in one database and takes care of all the business components by removing paperwork and making manpower more productive. ERP software for the construction industry maintains all the necessary data or information regarding projects, profitability, conversion and revenue generation.

Below are the Key Benefits of ERP Software in the Construction Industry:

Cost Estimation

Implementation of Construction ERP software can reduce your technical costs and enhance workflow in an efficient way. ERP for the construction industry is really helpful in estimating the cost of the project to plan for future work. Construction companies work on a contract basis and before getting tender, they bid for their projects for better cost estimation.

Real-Time Project Tracking

The advanced construction ERP software solution gives reliable analytical reports from real-time data and as a result, it allows the construction head to track ongoing project progress and take necessary action in case of any variance. And therefore, a construction ERP software helps in reducing risk, unnecessary time as well as improve the efficiency of work.

Planning and Analysis

Proper planning and analysis of architectural work are always essential to increase the reputation of any organization. Construction ERP software allows the analysis of contract, purchase, project design, inventory which is beneficial for financial budgets. It also helps to avoid contractual problems with the vendors and sub-contractors.

Increasing ROI

Construction ERP software allows construction & infrastructure companies to avoid manual, time-consuming, and labor-intensive processes, control expenditures for raw materials and employees, get rid of undesirable operating costs, remove unnecessary downtime, and meet project deadlines. And helping the organization get maximum ROI.

Optimize Project Management

To optimize Project Management, a construction ERP software solution has the capability to monitor information, storing data & accurate analysis of raw material, manpower utilization & resource allocation. Construction ERP Software allows access control for the authorized customers to get all the information from anywhere across the world. It avoids unnecessary time, cost & waste of money during the project duration.

NWAY provides a construction ERP software solution that can help your business to acquire benefits and fulfil construction business needs. If you want to know more about how our smart ERP software helps you to build your construction operation, fill out our demo form and consult with Nway’s 15+ years domain experts.

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 3 key Elements your construction ERP Must Have:

Planning & Estimation

Be prepared for unforeseen changes by analyzing previous reports to realize the repetitive constraints. Mark your budget limits with timely alerts on exceeding limits. Ensures a project is achievable, measurable, specific, relevant, and within the bound of time. Share the planning and ideas with customized groups in a centralized system making it a more Accountable and Consortium system.

Contract management

Contract management is the management of contracts made with customers, vendors, or partners. The strange challenge for a construction ERP is to manage a scope of work that can be fluid relating to a complex asset and maintain a list of contractors and track the progress. Contract management needs to go for multiple changes and be structured to handle workflow approvals, contract changes, and revisions.

Cost control

A construction ERP must be able to handle such diverse elements as resource allocation, payments on milestones, sub-contractor costs, and plant and equipment. The time at which major cost savings can be achieved is during the planning and design of the project. The date reports, business intelligence, and revision of the project will assist in maintaining control of costs and, of course, margin.

Nway ERP software for the construction industry are used across all industries but the ones that are built for the unique needs of construction companies help manage contractors, financials, and service operation.