Is it time to ditch your standalone project management software? Are you spending more time transferring data from one system to another? Can you get real-time data from your system?
If you’re looking for real-time data that’s easy to access, centralized, scalable, and that allows you to see the whole picture of your business, it may be time to move to an ERP (enterprise resource planning) solution, hint, hint Premier Construction Software.
1. Streamline processes through one system.
Instead of entering data in multiple systems (project management, estimating, accounting) why not enter it once? With an ERP the data is automatically transferred into the appropriate system for tracking and informational purposes. This saves time and money wasted on entering data multiple times so it will get where it needs to go.
For example, let’s follow an RFI through a standalone system: The RFI is written in the project management software, and a response is logged. Say the answer requires additional costs, so a potential change order is written and sent through the project management software. Once it is approved and has been returned as a change order, then the cost data has to be extrapolated and entered into the accounting and estimating software.
With an ERP solution, the entire process is handled in the project management software and automatically transferred to the accounting and estimating systems once the change order has been approved.
2. Reduce errors and mistakes made during data entry.
The more times data has to be entered by hand, the more chances there are that a mistake will be made. Typos and other errors can lead to incorrect information being used to make project decisions. A single typo can affect an entire project report as the data flows through the project records:
AP invoice – Payment – Commitment – Cost Report – Project Budget
And when these types of errors are found, teams can spend hours searching for the correct information, wasting valuable time.
With an ERP solution that is based on automation, like Premier, amounts are automatically transferred into the system directly from the source, eliminating the need for human data entry. This helps ensure accuracy and prevents mistakes.
3. Everyone works from the same data.
With a centralized data center that houses all project information and documents, there is increased opportunity for teamwork and collaboration. Everyone is working from the same data set and can see the same information at the same time. There’s no waiting for reports or gathering data from multiple systems. An ERP streamlines data collection and organization, making finding project information simple and easy.
When everyone in the company uses a common database to record transactions and communications, searching through them becomes easier. There’s only one place to look for a document or specific piece of data, saving hours of lost search time.
4. Easier to scale for future needs and growth.
Standalone project management software can only grow so much and only offers so many solutions. Because it isn’t integrated with other systems, its usefulness is limited to the field. An ERP, like Premier, has a wider variety of tools available, due to the integration of data across functions. You may not use all the features of an ERP at the time that you purchase it, but it provides the opportunity to add on the functionality later. This helps improve the depth of your reporting and your analysis of the data on your projects, which leads to more accurate estimates and reduced costs.
5. Real-time data is available when it’s needed.
In an ERP solution all project-related documents, reports, and data are available to anyone on the team, based on their permissions. This allows teams to collaborate and make proactive project decisions based on up-to-date, real-time data. There’s no waiting for a report to be generated, transferred into a spreadsheet, or missing documents to be found. Instead, project teams can act on information before there are problems, saving the owner and the company time and money.
6. See the whole picture.
An ERP dashboard allows project managers and management to see the whole picture of the company, not just one project at a time. They can review trends in the data regarding project profitability, overhead expenses, and productivity. This is information that isn’t available from a standalone project management solution.
The use of artificial intelligence and machine learning allows ERPs like Premier to actively predict problems ahead of time, so managers can act before issues occur. They can also track metrics and make assessments based on performance across departments or project managers.
Managers across departments can pull reports at any time to compare the information with other departments or gain new business insights. Data relationships may be discovered that hadn’t previously been noticed due to data silos.
We know change is hard,
which is why we make switching software easy.
Premier Construction Software works with contractors to streamline their systems and transition to an ERP solution. ERPs offer a streamlined process, reduction in errors, centralized data, scalable growth, real-time data, and the ability to see the whole picture. Connected strategies like ERPs integrate data from the field and the office, keeping everyone informed and allowing teams to be proactive in their decisions. Premier is more than just financial construction software, we’re built to help your business.
Dawn Killough is a construction writer with over 20 years of experience with construction payments, from the perspectives of subcontractors and general contractors. Dawn has held roles such as a staff accountant, green building advisor, project assistant, and contract administrator. Her work for general contractors, design firms, and subcontractors has even led to the publication of blogs on several construction tech websites and her book, Green Building Design 101.