1. Data Assimilation
In construction project management, there are a number of forces simultaneously at play, which are required to be utilised in
various work streams from time to time. The ERP software combines various processes into a single system. It provides dynamic
analysis of operational and financial data, giving more accurate and precisely calculated information in real-time. By using
this data effectively, companies can track simultaneous operations and report and manage deficiencies across all departments.
2. Planning and Analysis
We have seen that lack of proper planning often leads to unseemly completion of projects and the failure of many well-known organisations.
Enterprises also incur heavy losses in the form of labour costs and loss of clientele due to untimely completion of targets. With accurate
analysis of raw materials required, effective utilisation of manpower, construction design and contract management, one can channelize resources
properly and facilitate successful completion of projects.
3. Compatibility and Sharing
Using different software solutions for multiple operations leads to an inefficient exchange of information among departments. An ERP for
real estate & construction industry helps in managing and compiling data for multiple projects thus, allowing smooth exchange of information within
different departments of the organisation and effective construction resource planning.
4. Increased System Efficiency
A centralised system helps increase efficiency by providing an overall view of the scenario prior to making decisions. Whenever
employees are required to correlate information from different sources, an ERP solution assists in extracting data and providing
relevant criteria that need compliance prior to closing a query. Without having an efficient ERP solution in place, the interdepartmental
transfer and correlation of these reports, combined with back and forth changes as well as real-time monitoring of the entire process
would be nearly impossible.
5. Construction Time and Cost Estimation
An ERP can be used to determine an accurate estimation, so that the actual cost does not deviate much from the projected
cost of the undertaking. As real estate & construction projects take a couple of years to complete, the ERP software helps in construction
cost management by giving accurate estimation, keeping in mind the future liabilities.
6. Effective Communication
For better management of operations, it is necessary for effective communication channels to exist between employees. An ERP is
equipped with in-built chat forums and video communication capabilities to provide the perfect platform for executives to
communicate internally, irrespective of the location of where the work is being carried out.