23 Dec 2021
Staying current and adapting to change is an important part of running a business, regardless of industry. Time tracking, offline capabilities, and field data collecting issues are the typical construction pain points that hamper many construction firms. Since these issues affect daily operations, a best-fit software implementation can fill the gap between succeeding in or failing in a project bid. In this article, we would like to note down the top 4 pain points in construction and how the Synergix ERP system can help companies to overcome them.
Manual Work
Data entry is often time-consuming and high-risking. To handle a huge amount of data, construction firms often have a lot of software. These practices can cause human errors, data loss, or inaccuracies, leading to difficulties in the reporting process.
To solve this construction pain point, Synergix ERP system provides a centralised place that gathers all company’s key data. Therefore, builders do not need to use various separate platforms. Moreover, our Business Analytics module enables generating any customised report just by grouping, sorting, and filtering by criteria. Reports can then be scheduled to be automatically emailed to management or exported as a graphical format for presentation in financial reports.
Financial managers are often in charge of managing a company’s cash flow. Without the help of any advanced system, they can have difficulty manually reconciling financial data, accounting, and financial reporting. Claiming and obtaining certification from customers is also time-consuming and difficult to track.
Synergix Accounting module is IRAS-registered and adheres to Singapore accounting regulations. It allows managers to track intercompany transactions, handle elimination entries, and also provides finance reports. This can assure financial accuracy within the project as well as in the overall business accounts.
No Monitoring
For construction companies, it is vital to ensure consistency with the requested funds. In fact, project managers have to oversee the project costing, budgeting, and scheduling process, to make sure that the actual cost does not exceed the budget of the projects. Without the help of any advanced technologies, it is not easy for them to notice when the budget is overrun.
Synergix ERP system offers Budget Estimation/Control feature that enables project managers to track their project budget and actual cost in real-time. Being a fully integrated system, our software can guarantee that no single cost component is ignored, such as project labor costs, material costs, subcontractor costs, and overhead costs. Additionally, the solution is able to alert users when budgets burst.
Project managers can first set a budget for the project. With Synergix ERP software, they can make use of our project cost schedule to plan how they intend to spend the budget over the course of the project’s duration. Our system will automatically capture the variance between project cost forecast and actual costs monthly to generate the S-curve report.
Lost Time
On construction projects, the lack of procurement management can cause time overruns, directly impacting profitability. To approach the procurement process carefully, construction firms must carefully evaluate many different aspects while purchasing supplies. And this is how Synergix ERP solution help builders optimise the procurement process
The on-site team may raise material requests to headquarters during the course of the project. Once the material request is authorised, Synergix ERP system will send an auto-email to the procurement department to request them to evaluate suppliers. Before making a selection, the system can provide the purchaser with valuable information such as a list of suppliers from a pre-approved vendor list or a history of purchase orders.
Users can update the materials at the job site or in the warehouse. Synergix ERP solutions support partial material reception with a check and balance control feature to guarantee the quantity received is correct. Synergix system also allows you to skip the stock issue stage and charge the entire purchase order cost to the project. It will aid in keeping track of stock inventory and generating delivery order notes to deliver material or equipment from your warehouse to the project site.
Dispute-Prone
In the construction industry, communication is essential but also difficult. The lack of communication and collaboration amongst departments might be the main problem. It can come from different stakeholders across the supply chain who have to collaborate on a single project that spans weeks, months, or years. Poor team communication can have a domino effect, resulting in delays and cost overruns. So it’s critical for the project’s success that they coordinate their work well.
Synergix ERP software for building and construction is a good solution for this issue. The system provides a central hub where teams can update directly their working process. It preserves all information and other employees involved can check anytime to know the accomplished tasks and the next missions.
Furthermore, being a cloud-based system, Synergix ERP software can facilitate managing remote teams. The solution provides everyone with access to a centralized digital workspace. Project managers may follow up with the working process and the performance of their team in real-time. This enables teams to keep the project manager up to date on any difficulties. This can boost communication between cross-functional teams and the capacity to coordinate and anticipate problems.
Summary
The 4 pain points above are the main challenges of almost all construction companies. Many of them have adopted advanced technologies such as ERP systems to solve the problems. Being a fully-integrated, customisable, and cloud-based solution, Synergix ERP software will fulfill all your requirements. Moreover, Synergix Technologies is giving a Year-End 2021 Special Promotion for our user licensing packages, with a Buy 1 Get 1 program until December 31, 2021.
Synergix also fully supports businesses throughout Productivity Solution Grant (PSG) and Enterprise Development Grant (EDG) application processes when purchasing our ERP solution packages. Both of these grants are introduced by the Singapore government, offering the fundings up to 80% of the qualifying cost. So this year is absolutely the best time to adopt an ERP system. Do not miss out on this special chance to digitise your construction company.
Contact us now for more information.
