November 22, 2022
November 22, 2022
Enterprise resource planning (ERP) is an integrated software system used to manage an organization’s day-to-day operations such as procurement, accounting, human resources, compliance, project management, supply chain and more. ERPs are used across industries to integrate and simplify enterprise-wide processes.
Although many industries have embraced ERP technologies, the construction industry has been slow to adopt it because many firms in the landscape are unaware of its benefits and the solutions available to them given the sheer number of point solutions that have been developed in recent years. Most of them are accustomed to solutions like Microsoft Excel for managing scheduling, costing, analytics, etc. In addition, the dynamic nature of the construction industry makes it tough for the tech world to catch up. The industry is often tasked with difficult and complex projects such as building custom structures for unique clients in sometimes faraway locations.
More recently, construction companies are starting to see the benefits of ERP technologies and its ability to transform their business. They’ve started to realize that their current platforms and technology are holding them back, and by adopting this software, their business can increase competitiveness, grow sustainably, and improve profit margin.
Here are five ways these can be achieved through ERPs and questions you should ask your implementation partner:
ERP technology is starting to play a bigger role in the construction industry, and there are many ways that it can improve profit margins. Automating repetitive tasks, improving communication, reducing material costs, increasing safety, and improving project management are some of the ways that ERP technology can help your construction company save money and improve bottom line
The technology offers many other solutions that can be beneficial to your organization and it is important to seek the expertise of a professional when deciding which solution is best suited to your business needs. If you’re not sure how to start, you can access our playbook detailing how to adopt an ERP and what to know about purchasing one.
To learn more about how you can get support throughout the cyber insurance process, contact our team of experts today.