Cash flow and operational efficiency mean more to builders in times like these.
But that is easier said than done for many.
Managing construction projects is challenging for residential, commercial, and industrial builders that don’t have dedicated accounting and planning systems. As a result, more builders deploy automated construction management solutions that seamlessly integrate with their NetSuite ERP.
Wondering if an automated construction management solution is right for your company?
Why deploy construction management software
Here are seven signs that it’s time to deploy construction management software for NetSuite.
- Trouble forecasting cash flow. Projecting cash flow can be tricky when a construction project stretches on for months, and builders need to make big purchases. Without the right tools, builders can suddenly find themselves with a massive hole in their cash flow and no way to make payroll. Automated construction management software puts real-time cash insights at a decision maker’s fingertips, enabling builders to adjust schedules to align with cash flow.
- Out-of-control costs. Every business is scrutinizing costs these days. But tracking lots of expenses and frequently fluctuating prices can make it hard for builders to know how money is being spent until it’s too late to reign in spending. Making matters worse, it’s easy to miss discrepancies between accounts payable invoices that come into an accounting system and cost estimates done in a spreadsheet or a specialized estimating tool. Automated construction management software provides builders with a single system for seeing budget versus actual expenses in real-time, from the point a purchase order is created. Tracking and monitoring project costs in real-time help ensure that a project won’t become a money-losing venture.
- Missed change orders. Change orders are inevitable in construction projects. Manually handling change orders is a complicated, time-consuming process with lots of paper on lots of people’s desks and lots of opportunities for things to become overlooked. Missed change orders can result in a builder not get paid for all their work. Automated construction management software makes it easy for builders to produce change orders, track client approval, and ensure that the change order is uploaded to the builder’s billing system.
- Time-consuming job costing. Few things can undermine a project budget, like inaccurate job costing. That’s why builders spend so much time estimating jobs to the last nut and bolt. But poor integration between the tools a builder uses for job costing – a dedicated estimating package, spreadsheets, or paper – and downstream systems mean builders can never be sure that they have updated pricing information. As a result, staff waste lots of time manually comparing prices. With automated construction management software, supplier prices are automatically updated, providing builders with peace of mind that their revenue is on track.
- Too much paper. Supervisors have better things to do than go into the office and spend lots of time manually approving invoices from contractors and suppliers. Automated construction management software makes the process of approving invoices effortless. As tasks in the construction work schedule are completed, supervisors receive a request to approve vendor invoices for payment. Invoices that fall outside of the work schedule also can electronically be sent to supervisors for review. Invoices can be approved from anywhere, freeing supervisors to spend more time at the job site. As approved invoices arrive in the accounting department, matching functionality in the builder’s ERP makes processing those invoices easy and fast.
- Poor visibility into project progress and timelines. The manual processes that most builders use to report on a job’s progress and keep track of a project’s timeline make it hard to know where things stand. Many supervisors rely on pen and paper to record the tasks completed for each project. At the end of the week, the supervisor will review the pad of information with somebody in the office, who will typically create a report for anyone else who needs an update. With an automated construction management solution, supervisors can electronically record progress on-site and make the information instantly available to stakeholders. Teams also can access and analyze timeline management tools such as Gantt charts, eliminating the guesswork around “danger jobs” that can lead to labor overages.
- Slow decision-making. When builders rely on manual processes and poorly integrated systems, they can never be sure if the information they are getting is accurate or up to date. Many builders will delay making decisions – and miss opportunities – because they lack confidence in their information. Some builders make decisions based on “gut feelings.” With an automated construction management solution that is tightly integrated with NetSuite, builders always have complete, accurate, and timely accounting and planning information.
If your company is experiencing any of these issues, it may be time to deploy an automated construction management solution that is native in NetSuite – the world’s #1 cloud ERP.
FullClarity’s automated construction management software can help your company more accurately forecast its cash, reduce costs, streamline the tracking of change orders, improve job costing, reduce paper processes, improve visibility into project progress and timelines, and speed decision-making.
If these benefits are of interest to you, let’s arrange a time to speak. Contact us to arrange a no-obligation consultation with one our experts.