Category: Module Specific

As the world advances in technologies, all businesses are moving forward by adopting innovative ideas. One such approach is Labour Management Software for the construction business. Effective software is essential in construction businesses to avoid delays and other inefficiencies to make projects a success as quickly as possible.

However, when it comes to using construction, many people remain confused about whether the software is effective enough or not or just an additional expense? But now more and more construction companies have realised that they need effective labour management software that helps them to get better control over their business processes and labours. In this post, we will give you some detailed points on why this software is helpful for your construction businesses.

What is Labour Management Software used in the Construction industry?

Labour management in the construction industry is a management tool that manages all workers in construction processes. The main purpose of labour management software in the construction industry is to maintain daily wages, subcontractor details, daily anonymous attendance for regular employee attendance, and much more. It also helps in improving the processes of planning, coordination, and control over construction project implementation. Generally, it is the best software for your construction business to manage all your labours and even managers, building owners, builders, remodels, speciality, general and commercial contractors, etc.

Benefits of Labour Management ERP in the Construction Industry

There are many benefits of software, but some of the best features are listed below:

• You can create a personalized database for the employees and their categories based on skills, certificates, education and grade.
• Track attendance for both the daily wage workers and permanent employees together in a single database with one click.
• In ERP management software functions, you can allot work orders to employees daily and monthly through a centralized cloud system.
• Inspect all the employees at the same time on the job site through IoT attendance integration in the system.
• Stay aware of the employee’s performance on-site with their shifts, overtime, in time, out time and total working hours.

So, today we got to know why labour software is helpful for your construction business. For labour management assistance, join us today to get the best solution for your businesses. We have ERP Management software experts who can make it easy for you.

Owners benefit from effective construction project management software by increasing the ability to complete a construction project on time, accurately, predictable, profitable, on budget, and free from any financial or legal complications. The benefits of the project management software are limitless and some time ago this project is managed by three things: a pencil, a sheet of paper, and a method. Today, companies develop technology to manage their construction project in ERP software and become as competitive as possible. So today, let us learn how important is Construction Project Management ERP Software for your business to increase productivity and profitability? In this article, we will look at the top benefits and importance of implementing ERP software that can automate construction management processes.

Effortless Project Planning with Construction Project Management Software

The main advantage of construction project management ERP software is to automate the planning and scheduling processes. Project planning and scheduling are extremely important to manage construction site projects, irrespective of the old method applied like Sheets.
With this project management ERP software, records of the team and site work related to the current project can be easily accessible. In this software, project managers create a management plan and establish priority tasks to complete a project. With this ERP software, tasks such as accurate reports, planning, cost estimation, project deadlines, and on-time delivery can be easily accomplished projects on time and within budget.

Project Management SoftwareReal-time Communication and Collaboration

Working across multiple construction sites requires a communication system so that these discussions will ultimately lead to better planning and completing the project on time. But these communication gaps between sites can create problems and unnecessary delays. And this is the best advantage of this project management ERP software as it enables effective team collaboration between multiple construction sites.

It keeps all communication in one dashboard and is easily accessible with a single click and automatically sends important alerts to the concerned departments. By using NWAY Construction Project Management ERP software you can keep every team member in the loop and make sure everyone knows everything about the project prioritization task.

ERP Software Helps Accounting Management

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 don’t want to face this type of problem in your business then use construction management ERP software to manage your accounts and see the financial report of every transaction that happens in your account. In this way, you know where to spend more money and where to spend less money so that your transactions will be very easy and you will never have to worry about financial problems.

So, in this article, you finally learn the top benefits and importance of implementing ERP software that can automate construction management processes.

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.

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.

What is ERP System?

Enterprise Resource Planning (ERP) software is an application that automates major business processes, usually in real-time and moderated by software & technology. It combines financial management, supply chain, CRM, and in some cases, industry-specific solutions into one broad range by helping businesses earn full visibility and control, scale & able to compete in the competitive domain.

Nway Construction ERP Software provides a full-fledged ERP system that caters to all your business needs & Streamlines your key processes, gains greater insight into your business, and makes decisions based on real-time information.

What is Accounting Software?

Accounting software describes a type of application software that records and processes accounting transactions within functional modules such as accounts payable, accounts receivable, journal, general ledger, payroll, and trial balance & timesheets. It can track financial transactions to record profile or loss and improve business finance and overall cash flow.

The major difference between an ERP system and accounting software are below:

• Accounting Software provides limited real-time data whereas ERP handles the entire function of an organization

  ERP software consolidates every financial information in one database and accounting software handles individual business accounts. ERP systems eliminate the need for different tools to manage the requirements of different departments by providing combined solutions for a wide range of business processes. Moreover, company-wide data is available in the cloud for anywhere, anytime access to real-time information using a mobile device. ERP systems connect each part of the business which makes every decision to be based on real-time intelligence. On the other hand, the accounting system doesn’t come up with this kind of functionality.

• Accounting software is nothing but a subtype of ERP Software

  An accounting system is a subtype of ERP. Accounting software specifically deals with all accounting transactions and the modules basically used by the accounting software are General Ledger, Chart of Accounts, Trial Balance, Balance Sheet, Accounts Receivable, Accounts Payable, Point of Sale. On the other hand, an ERP is a fully integrated solution deals with all of the functions offered by accounting software integrates them with non-financial tools. It specifically includes inventory management, supply chain management, customer relationship & warehouse management.

• Accounting software has a limited ability to meet industry-specific needs as compared to ERP

  The accounting system is adopted by the industry which is looking only for Financial management. However, the ERP system gives provisions for all the departments of an organization to include their specific business processes to be customized with an ERP software.

• Accounting software is designed to manage only one specific area of business

  Accounting software is designed to manage only one specific area of business. While the ERP system is a fully integrated software deals with the functions or modules of accounting software along with a whole host of other functions within a business. It includes inventory, supply chain management, customer relationship management, online selling & buying & warehouse management. It doesn’t work for a specific area instead covers all your business areas.

• ERP Provide One Stop Solution for your Domain

  An ERP system can provide functionality & value to your entire domain whereas an accounting solution is just designed to be leveraged to cover essential financial requirements by your finance team like Accounts payable, Accounts receivable, Revenue, Sales & Invoicing, Financial reporting.