In a global survey, 23% said their companies chose to upgrade their current cloud ERP systems as of 2020. Besides, many construction firms utilizing a cloud ERP were ahead of the game when the COVID-19 pandemic hit.
Cloud construction management software provides several clear advantages to contractors and businesses. For example, the ability to scale, be mobile, and have a real-time view from any access point are excellent. Still, cloud construction software can make any construction or contracting task simple; read on to learn more about it.
How Does Cloud ERP Work?
If you haven’t heard of cloud computing, it’s when your business has an enterprise resource planning system (ERP) running on a cloud provider’s server. You can look into the areas of your business from anywhere, on any device, as long as you have an internet connection.
ERP construction software automates and integrates essential financial and business operations.
What’s more, it provides a single data source for all your operations. Supply chain management, inventory, order production, fulfillment, distribution, and procurement assistance are just a few processes that are streamlined with a cloud ERP.
What is Construction ERP Software?
Construction ERP software is hosted by an ERP vendor that provides it to businesses as a service. It makes it a win-win situation for firms using cloud ERP software since it supports a better performance than on-site systems. Besides, it comes without most of the hassles, such as upfront licensing costs.
Benefits of Cloud ERP Construction Software
For construction and manufacturing-based companies, productivity is essential. Streamlining services seem to help businesses increase margins, drive up profits, and quickly deliver. Savvy business owners know that cloud-based ERP can take this even further.
According to cloud experts, 82% of workloads will be in the cloud by the end of 2020. Here are six benefits of using cloud-based ERP construction software:
1. Better Automation of Business Processes
With the end-to-end integration provided by cloud platforms, it’s a simple process to use secure, open APIs. These let you connect to other construction solutions, such as ProEst and Procore, among others.
With the right platform and software, your business will move past problems with more accuracy and visibility. Besides, it will let you put the right people on every project.
2. Real-Time Data From Anywhere
The flexibility provided by cloud construction software, such as Acumatica Construction Edition, allows construction firms to access the resources and tools they need at any point. Cloud software provides real-time data and access to files from anywhere. As an example, project management will be more streamlined from connected cloud as managers can keep everyone in sync with improved visibility.
The visibility in all data is said to be the most significant unique selling proposition (USP) of connected clouds. It can lead to a reduction in errors and a boost in customer satisfaction as workflows are improved.
It’s one of the common factors among business teams that are hungry for real-time visibility into their entire operation. It enables them to see the bottlenecks, adjust for them, and boost productivity.
3. Data Re-Entry No Longer Needed
Cloud ERP construction and accounting software generally fall into two categories. If you swing the wrong way, it will cost your business in a few ways.
Traditional or legacy systems are the first type of software in use. The problem is they are made for on-site systems, such as desktop computers, and leave your remote staff in the cold.
Besides, when employees have to use their productive time to do repetitive, tedious data entry, they are wasting time. That time could be put to use on business-centric activities that have higher returns.
Cloud systems keep everyone in the loop. They help reduce human error since all the related software synchronizes automatically. This system makes manual entries a thing of the past.
When mistakes do occur, everything is tracked within the system. It makes it simple for managers to trace errors, leading to improved performance.
4. Connected Cloud Enables Faster and Smarter Work Processes
Work processes become smart and quick since a connected cloud makes finding solutions easy. Integrated data management and custom dashboards mean nothing is more than a click of a button away.
What’s more, most experts say connected clouds are more cost-effective as they are more likely to be subscription-based. Having a subscription-based solution allows you to have no limit to the number of users you have.
Additionally, cloud ERP brings unified communication. It helps improve productivity since all team members see, collaborate, and share files in real-time. Work instructions and notes not only keep you on schedule but allow employees to train on the job.
5. Detailed Profitability Metrics
Key Performance Indicators (KPIs) tell you how your business is performing. They alert you to opportunities and problems that exist in your firm.
Software, such as Acumatica’s project accounting, gives your construction company a live view of finances when and where you need it. It lets you capture a single version of truth for construction project and finance management.
The consolidated view of your individual data silos using the latest technology helps overcome any issues. Besides, it delivers mobile SaaS for your enterprise functions.
6. Cloud ERP Boosts Customer Satisfaction
On-time deliverables and keeping projects on schedule helps boost customer satisfaction. Besides, improved inventory control, production planning, simplified scheduling facilitates coordination between channels. The real-time data provided by cloud-based ERP solutions lets decision-makers track inventory levels from anywhere in the world. This ensures the fulfillment of orders on schedule.
Acumatica’s Construction ERP has led to the transformation of construction companies. It allows them to connect their business applications with cloud technology. It also lets them integrate end-to-end with industry-specific applications.
With the ability to communicate and problem solve with mobile access, the need for separate software programs is eliminated. What’s more, it lets them provide solutions to clients on-demand, and that means happier customers.
Moving to Cloud ERP Software for Construction
In such a technologically driven society, it has become vital for those in the construction industry to leverage an industry-specific cloud ERP. Although it may seem daunting to make the switch, the benefits of a connected cloud outweigh any negatives.
It’s challenging making the right choice in deploying a construction ERP system but once the right choice is made, it’s difficult to outweigh the many benefits a cloud ERP can bring.
If you’re interested in finding the right ERP solution for you, contact us today!