THE BENEFITS OF Cloud ERP DURING THE COVID-19 ERA

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 and below listed benefits.

  1. 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.

  2. 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.
  3. 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.

  4. 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.

  5. 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.

Construction ERP – Inventory Management Software

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:

  1. Monitors inventory levels
  2. Alerts when stock is low
  3. Suggests re-order quantities
  4. Automates purchase orders
  5. Increases visibility
  6. Labels pre-committed inventory (production work order, customer)
  7. Supplies detailed inventory history
  8. Tracks & traces materials used

What are the Challenges:

  • Tighter construction budgets and timeline.
  • Secured transactions with role-based access.
  • Technology 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 multiple sites from one location.
  • Total count of Assets, Resources and labour.
  • Real-time access to Inventory from any part of the world.
  • Maintenance and Servicing.
  • Plan Service schedules for Equipment and Assets and get notified on due dates.

Inventory Control and Waste Management

Ease up the procedure of Material transfer and storage by the prior assembling of item racks in-store, at multiple locations by accessing the consolidated database.

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

  • Stock status by location,
  • POs (with drill-down detail),
  • Vendors,
  • Bill of Material,
  • Uses in other equipment’s BOMs,
  • Client Order Processing (COP) Sales,
  • Special pricing.

Inventory Management Software for Field Service & Construction Contractors

Inventory management and procurement are more than a process. It is a dynamic, ever-changing practice that can quickly impact the bottom line when service and construction materials are delayed or unavailable.

Features:

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. Each Module has been developed to work in sequence and provide the best Construction ERP Software to help customers to build their dream.

It’s time to Overcome Challenges in Construction Industry with NWAY Construction ERP Software

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:

1. 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.

2. 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.

3. 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.

4. 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.

Benefits of ERP Software in Construction Industry

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 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 management, purchase management, project design, the raw material 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 ERP provides an ERP software solution that can help your construction business to acquire all the above benefits and fulfill your 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.

Implementation of ERP Systems in the Construction Industry

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.

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 Elements your construction ERP Must Have:
  1. Planning & Estimation

    Be prepared for unforeseen changes by analyzing 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 Consortium system.

  2. 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.

  3. 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 planning and design for the project. The date reports, business intelligence and revision of the project will assist on maintaining control of costs and, of course, margin.

    Nway ERP software for 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.