NetSuite ERP for Construction and Project-based Companies

From Eliminating Cost Overruns to Driving New Efficiency Gains, NetSuite + FullClarity is Supercharging Construction

ARTICLE - In the fast-evolving construction industry, efficiency, cost control, and scalability are crucial for success. Companies face mounting pressure from project complexity, supply chain issues, and regulatory demands; many are turning to integrated cloud solutions like NetSuite to manage their needs. Yet, while NetSuite offers a robust foundation as the world's leading cloud ERP, construction companies can see even greater value when it's extended with FullClarity's Construction for NetSuite module. Built natively on NetSuite, FullClarity's solution provides a comprehensive, construction-specific layer that addresses unique industry challenges and optimizes project workflows for maximum productivity.

Addressing Construction Industry Challenges
Today, construction companies have many challenges. According to a recent report by KPMG, around 70% of construction projects suffer from schedule delays, which can lead to significant financial strain. Another Dodge Data & Analytics study found that 73% of construction professionals believe technology can be pivotal in improving productivity and reducing costs. These industry trends highlight the need for innovative solutions tailored to the specific demands of construction.

"FullClarity's Construction for NetSuite offers us the opportunity to be both modern and customized for the construction industry. It gives us the advantages of cloud-based NetSuite, and it provides the functionality needed for construction's unique processes without the time, money, and hassle of developing it ourselves."

- Mike Keenan, CFO, Blake Solutions

Andrew Coghlan, CEO and co-founder of FullClarity, explained that his company's Construction for NetSuite module was developed to meet these unique industry challenges: "We recognized the gap in the market for a solution that could both leverage NetSuite's robust ERP capabilities and provide industry-specific tools for construction. With Construction for NetSuite, companies gain an all-encompassing view and streamlined operations that allow them to focus on growth instead of fighting fires."

“With NetSuite and FullClarity, our project managers can easily track schedules and link progress payments to specific tasks from inside NetSuite. Now, our leadership gets reliable, real-time revenue forecasts with a clear view of billing dates and amounts. The cross-departmental transparency keeps everyone on the same page and moving forward together."

- Xavier Chambers, Business Technology Manager, Mars Energy

Benefits of NetSuite + FullClarity
When FullClarity Construction for NetSuite is implemented, construction firms benefit from a unified platform that manages accounting and supports project-specific tasks like job costing, resource management, and vendor coordination—all built inside NetSuite. This module is on-platform meaning it works seamlessly with NetSuite's core functions, reducing the risks and inefficiencies of using separate applications for construction tasks.

Some of the key benefits include:

1. 1. Real-time Project Visibility: The FullClarity module provides a 360-degree view of projects, enabling managers to monitor budgets, timelines, and resource allocations in real-time. This visibility helps construction firms prevent margin erosion and improve decision-making, a crucial advantage in an industry where profit margins are thin, and project costs frequently fluctuate.
   2. Automated Job Costing and Forecasting: FullClarity's tools for job costing allow for more precise bidding and efficient forecasting. By automating cost estimations, companies can provide clients with accurate proposals and avoid cost overruns. Furthermore, this on-platform solution allows project data to update instantly, making it easier to adjust forecasts based on changing project conditions.
   3. Efficient Vendor Management: Managing vendor relationships and costs is a persistent challenge in construction. According to a study by Construction Business Owners, 43% of contractors need help managing vendor pricing and terms. With FullClarity, NetSuite users can access real-time vendor pricing and terms directly from the platform, helping ensure that material costs stay on budget and schedules remain on track.
   4. Future-Proof Scalability: Construction projects often scale quickly, involving various stakeholders and phases. FullClarity's solution allows companies to manage multiple projects simultaneously, adapting rapidly to project growth without sacrificing data integrity or operational efficiency. This scalability is essential in today's construction industry, where the global construction market is projected to reach $11.9 trillion by 2024.

Maximizing NetSuite's Potential with FullClarity
By combining NetSuite's powerful ERP capabilities with FullClarity's specialized construction tools, companies gain a solution tailored to the construction industry's unique demands. It empowers construction firms to streamline operations, enhance project oversight, and mitigate risks, positioning them for sustained success in a competitive landscape.

In the words of Andrew Coghlan, "Our mission at FullClarity is to empower construction firms to leverage the full potential of cloud ERP without sacrificing the construction-specific functionality they need to thrive. With Construction for NetSuite, firms aren't just investing in software—they're investing in a more scalable, efficient, and profitable future."

If your construction company or project-based business is ready to supercharge operations with construction-specific capabilities that deliver real-time project visibility, automated job costing, efficient vendor management, and future-proof scalability—all in one seamless platform - contact us to arrange a consultation with one of our industry experts.