Construction and commercial real estate development professionals know that the right equipment is key to a successful project – and ultimately to the long-term health of a company. It is a given they would never use a shovel for a job that calls for a backhoe. Yet many practitioners continue to use legacy accounting systems, hanging onto decades-old technology and relying on guesstimated costs, delayed communication with the field and, ultimately, loss of project profitability while their peers step up to the new generation of cloud-based solutions. Does this sound familiar? If so, it is time for a change. Today’s best enterprise resource planning (ERP) systems – with software designed specifically for the construction industry – can help companies increase margins and tighten project control from estimating through closeout – handling the full range of project and accounting management needs, providing real-time views, and consolidating data in one complete back-office system. They also deliver seamless integration of multiple processes – including job costing, contracts, change orders, document management, compliance, retainage, inventory and customer management. And they make all this available on any device, wherever and whenever it is needed.
By Michael Mullin