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  • vaibhav
    Construction is a huge process involving hundreds of operations that are carried out simultaneously at multiple sites with a huge workforce. Along with this, there are many problems in the business of construction like financial management, purchase management, HR & Payroll, construction accounting, Store & Inventory management and service operations. With the help of construction management software, you will never face any such type of problem in your construction business and your work will never stop anymore. But how can you get rid of this problem? So today we will learn how to overcome the significant challenges facing the construction industry. Financial Management with Nway ERP Software The whole transaction of account money is managed by the account module in Nway ERP Software. This ERP software keeps all account-related transactions like expenditures, balance sheets, account ledgers, budgeting, bank statements, payment receipts, tax management, etc. Now financial reporting and management challenges faced by the construction industry is an easy task for this module. Any financial data that is essential to running a business is available with a single click. Finally, you can come out of this problem of financial management. Biggest Challenges in Construction Industry – Labour Management Labour management is
  • Construction erp system blog
    vaibhav
    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
  • vaibhav
    Every business needs good productivity this year and especially when it comes to the construction business, productivity matters a lot because the higher the productivity, the higher the profit. But how can you increase the productivity of your business in this new year? This is a very important question. So today we will know some such ways that help you to increase productivity in your construction business. Use ERP Software to Improve Productivity In the construction business, along with the client, it is also very important to manage the business properly to increase productivity. If you do not manage the business properly then you may face loss instead of profit in a business. To avoid this, you can use ERP software. ERP Software helps you a lot to manage your construction business because Construction ERP Software includes the management of general contractors, subcontractors, financial management, purchase management, HR & Payroll management, construction accounting management, Store & Inventory management and service operations in one central database or a single dashboard. Benefits of Construction Management ERP Software: 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
  • blog
    vaibhav
    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
  • Construction ERP blog
    vaibhav
    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
  • How to Increase Productivity in the Construction Industry
    vaibhav
    In Simple 4 ways!!! 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 can 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 how Construction ERP Software can help you to increase your productivity. 4 Ways to improve productivity in the construction industry- Improved accuracy and efficiency 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, workers information such as what time they came to work and how many hours they worked, and also provide
  • Top-5-Reasons-Why-Construction-Industry-needs-an-ERP-Solution
    vaibhav
    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
  • Best-Construction-ERP-Software-Solution-Provider
    vaibhav
    ERP software is a business solution that provides powerful analytics using data from various construction processes such as financial management, contractor management, inventory management, human capital management, project management, vendor management, asset management, and more. Construction ERP software integrates different software systems into single comprehensive solution to help construction managers to effectively manage the full life cycle of a project. Our best ERP software for construction industry includes unlimited user license All the company gives license for a limited user and cover incomplete information but in our ERP construction software, we provide you with unlimited user license access so that you can keep your entire customer and user data in it and you will be able to see the report accurately and get complete information about your construction business. As your organization grows, you can have unlimited number of projects at any location and have payroll generation for thousands of employees at ease and no extra cost. Mobile App Integration in ERP Software for Construction Industry Nway ERP provides you the best Mobile app integration service so that you can connect all your devices to view reports accurately, get better results and improve construction company productivity. Mobile app integration helps
  • Cloud-ERP
    vaibhav
    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
  • ERP for Contractors
    vaibhav
    The timely stocking of goods is the critical function of inventory management. Construction activities totally depend on a robust and strong inventory system, as 50% of construction expenses are met by the material management process. And to manage effective management, to achieve the timely supply of materials and equipment and to reduce the cost of projects, a well-planned material management program is required. If the inventory module gets integrated with finance and purchase then it allows ERP system to generate the high executive-level report. And each of the important information of your organization is maintained by this module which majorly depends on inventory costs, location and availability. An inventory management system  focuses on the below aspects: Monitors inventory levels Alerts when stock is low Suggests re-order quantities Automates purchase orders Increases visibility Labels pre-committed inventory (production work order, customer) Supplies detailed inventory history Tracks & traces materials used What are the Challenges : Tighter construction budgets and timeline. Secured transactions with rule-based access. Technulogy adoption, unskilled labour and labour shortages. Our training and support team helps in full implementation and staff deployment. Relying on manual processes. The fully cloud-based system with automated reports. Multiple site management on multiple locations. Access
  • vaibhav
    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
  • ERP Vs Accounting
    vaibhav
    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
  • Construction ERP Software
    vaibhav
    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.  Construction Management 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 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 according to the budget. Some construction companies work on a contract basis and before getting tender, they bid
  • e-Invoicing
    vaibhav
    Know everything about e-Invoice: The CBIC (Central Board of Indirect Taxes and Customs) has issued a notification that e-Invoicing is to be mandatorily accepted by all companies or suppliers with a turnover exceeding Rs 500 crore. Before the limit for preparing e-Invoice was 100 Crores. This new change in a system or law is the gateway for the digitization of business processes in India. The provisions will come into effect from 1st October 2020. The CBIC has modified the e-Invoice format by adding in 20 new fields and removing 13 pre-existing ones. Also, few alterations have been made to the character length in certain fields. What is e-Invoicing or Electronic-invoicing? Electronic invoicing (e-Invoicing) is the exchange of the electronically generated bills document between a supplier and a buyer and validated by the government tax portal. An e-Invoicing is the transaction processing system where B2B invoices are digitally prepared in an e-Invoicing format and authenticated by the GSTN. This system ensures that a common format is followed by all businesses before reporting invoices to the GST portal. What are the documents covered for e-Invoicing? The taxpayers need to be reported the following documents to the government under e-Invoicing regulation: Invoice by
  • Blog3
    vaibhav
    Today, construction industry has become more challenging and competitive. All the construction firm are in the search for any mean 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 as business management system software that can integrate numeral activities in a project & deliver a simultaneous result for bettering performance, reduce cost, and increase profits. A construction ERP software provides cost optimization, incorporate design changes, consistent quality conformance, Reliable, Faster and on time delivery, incorporates value engineering, Collaborative work environment, 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
  • TDS Rates Reduction by 25%
    vaibhav
    The Central Board of Direct Taxes has reduced the rate of Tax Deducted at Source (TDS) by 25%. This is applicable from 15 May 2020 to 31 March 2021 to provide more funds in the hands of businesses and individuals during the COVID-19 pandemic. Read More. To simplify this for you, Nway ERP automatically creates some reduced tax rates and lets you apply them to relevant transactions.
  • Construction Gantt chart
    vaibhav
    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 managing resources over the life cycle. Apply various tools and methodologies to control scope, cost, time, quality, etc. CPM (Construction Project Management) required for a simple home building to a large complex bridge construction, from engineering a dam build to a road project. Contractor manage the complete process cycle of a project build, often managing on-site to ensure the safe, successful construction. Different process in Construction Construction Project Management Tools You need the right tool to manage construction Project successful. Nway ERP provides construction project planning, estimating, scheduling, vendor management, procurement & cost management in construction projects and tons of feature 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 the platform on with you can collaborate and provide a platform to your team and tracking process become easier. NWAYERP has a construction management solution that has following features. Cloud Based Gantt Chart BOQ Material Consumed Daily