With a cutting-edge technology like Acumatica Construction Edition, construction companies can be relevant and competitive amidst challenging and unique market conditions.
Those in the construction industry understand the pressure of gaining a competitive advantage and finding the best solution to keep up with the landscape of the business.
Indeed, the demands of the industry are becoming larger and more complex – requiring more workforce, long processes, and enhanced collaboration.
Another challenging scenario is that many construction companies still do not understand the importance of having an ERP system to streamline project management and increase efficiency.
There are even numerous off-the-shelves ERP solutions available in today’s market. However, these ERP systems fall short of meeting the requirements and demands of the industry.
Acumatica is a leading innovator in cloud ERP with customers worldwide. It helps construction businesses thrive in the digital economy by providing a system tailored to the industry’s complex needs.
With Acumatica Construction Edition, businesses can take advantage of a single source of truth, accurate real-time information, and faster response and decisive actions.
Additionally, construction businesses can experience reduced chances of building conflict, better communication with clients, proper documentation, and efficient budget monitoring.
11 Features of Acumatica Construction Edition and Benefits
The key to a successful construction enterprise is having an ERP solution that can effectively and efficiently manage the entire lifecycle of projects – from planning to even tax calculation.
To keep your construction business at a competitive edge, your ERP system must comprise features built for today’s complex and connected construction industry.
Acumatica Construction Edition is designed to evolve your business with its comprehensive system features. Get to know Acumatica’s Construction Edition features in this quick guide.
1. Financial Management
Managing the finances of construction projects is crucial because it involves determining the cost of every project phase.
Acumatica Construction Edition has scalable financial management for complex needs. The system is designed to accommodate multi-company, multicurrency, and intercompany accounting.
It also has a feature to manage fixed assets, recurring and deferred revenue, and cashflows.
2. Job Cost Accounting
Job cost accounting involves a detailed calculation of labor, materials, and overhead expenses. You can easily manage workflows from entering invoices to approving routing and checks with the system.
Construction businesses may enjoy seamless customer billing, real-time project costing, and up-to-date labor, material, and equipment. Above all, you may proactively identify problem areas in current jobs and improve future project estimates.
3. Project Management
The construction industry has complex setups that require managing costs, schedules, procurements, and risks.
Acumatica Construction Edition has an extensive view of project details. It includes real-time field updates that help create wise business decisions. You can easily manage all activities from one central solution.
Project stakeholders can now control cost overruns through the system by automating project commitments and changing order processes.
Additionally, you can now easily create and track subcontract status, purchase orders, budget comparisons, line-item committed costs, and payments.
Apparently, the construction industry is one of the most regulated industries in the Philippines. For most contractors, compliance is one of the keys to successful construction projects.
You can effectively manage lien waivers, releases, and insurance certificates with Acumatica Construction Edition. You can have an updated view on status updates and quickly provide expiration and other alerts to staff and suppliers.
6. Customer Relationship Management
A Customer Relationship Management or CRM feature tracks and manages customer data and relationships. The advantages of a CRM do not end there. It also streamlines tasks by providing necessary insights for project activities.
The Acumatica Construction Edition allows an easy real-time view of data on all customer activities, including quotes, orders, invoices, payments, support cases, and service calls.
It includes a self-service customer portal that lets customers access the information they need.
7. Mobile App
One of the unique descriptions of the construction projects is the on-field setup of various stakeholders. This is why your solutions must be complete, mobile-enabled, and cloud-based.
With Acumatica Construction Edition, you can access the system and critical reports on phones and tablets anytime, anywhere.
Field teams and subcontractors can enter employee time and equipment details electronically and search for all project details from one global search box.
8. Advanced Material Management
Acumatica Construction Edition streamlines the management of project materials, including receipts and issues for purchased materials. You can easily create requisitions and set approvals workflow.
Also, shipping materials directly to a project location is made possible through purchase order creation.
9. Change management
Change management refers to the necessary support in the process of organizational changes. With Acumatica Construction Edition, you can control cost overruns by automating project commitments and changing order processes.
10. Progress Billing
Progress billing provides a regular payment schedule for large and long-term projects. Flexible progress billing by quantity reduces risks to project owners while allowing customers to meet their unique business needs.
11. Project Cost and Revenue Tax Zones
Acumatica Construction Edition simplifies the process of calculating taxes for a project. Tax zones are included directly in the project. They are automatically retrieved and calculated for all invoices, purchase orders, subcontracts, and expenses.
Scale your construction company before it’s too late
Times are changing. Construction businesses worldwide are adopting solutions that will aid them in staying ahead of the curve. Therefore, it is imperative for your business to also utilize cutting-edge technology like a cloud ERP in your operations.
Indeed, construction projects are a sea of moving parts. Your ability to complete projects on time and within budget depends entirely on the collaboration between your central office and your field staff.
A Cloud ERP gives you access to business-critical information anytime, anywhere. It integrates, automates, and empowers your construction business to function effectively and efficiently.
Acumatica Construction Edition allows you to easily manage your customers and finances—including job cost accounting—field and service teams in one cohesive solution.
The great news is that Yondu Inc., a leading IT company in the Philippines wholly owned by Globe Telecom, offers Acumatica Construction Edition.
Achieve greater profitability by connecting your people and projects and streamlining your processes. Talk to our experts today.