As your enterprise grows, processes become more demanding and rely on more and more staff to fulfil duties that were previously less labour intensive. The construction industry is experiencing a renewed level of growth but overheads mean that profit margins are being squeezed continually.
Economies in your Finance Department
Supplier invoices can slow your team down. Manually entering thousands of invoices into a finance system can take hours for multiple members of staff. Once received, these will need to be reviewed by a member of staff and then entered into the system manually, which is both painfully slow and costly. The process is open to human error which is inevitable considering the sheer volume of data, deadlines and complex systems. Human error is not the only obstacle to efficient financial systems, consider the need to replace or train staff to cover maternity and annual leave in a finance team. Training is often a slow process that drains the team even further.
An automated solution that integrates with your existing SAP Business One solution not only improves accuracy and efficiency but ensures data privacy. Employing an SAP Certified Add-On frees up hundreds of staff hours and this staff time can be redeployed elsewhere in the organisation. Cutting unnecessary costs in your finance team and improving accuracy with minimal effort is achievable with the right solutions. Using our SAP certified Add-On, uploading invoices is automatic and safeguards put in place will ensure complete security and precision.
Managing Adjustments
From kitchen fitters to bricklayers, we understand that sub-contracting is a way of life for the industry. Utilising sub-contractors ensure that your organisation can accommodate large scale projects without increasing headcount. While the goal is flexibility, it can prove cumbersome for your enterprise due to laborious administration. Managing timesheets, project costs, deliveries and capturing client requirements in disparate systems and trying to align these into a single report requires skilled staff, in-depth understanding an immense amount of patience. The result is not always accurate, leaving management with incorrect facts and looming deadlines. Running multiple sub-contractors with different budgets, timelines and expenses increase your exposure to inaccurate adjustments and working on large scale projects can bring the added administrative headaches such as audits. A closed loop reporting model that can supply accurate and timely reports will be invaluable to your construction enterprise as it scales.
Our SAP certified Add-On captures information and syncs this with SAP Business One. This helps you control your projects from start to finish, including calculation, resource management, purchasing, time tracking and billing in the one system. Staff can feed into one central system, giving you real time information and empowering management to make the right decisions on projects.
Manage Retention Payments
Retention payments are easily managed via SAP by simply splitting a vendor invoice amount. In theory, the process is straight forward but there are challenges for large enterprises. On project completion, retention payments are due, but without a method for checking and processing project updates, these retention payments can be unnecessarily delayed or worse – paid out incorrectly. Our SAP certified Add-On is the perfect solution for analysis of real-time data of larger projects in the data-to-day running of your enterprise. This ensures that all checks are completed before retention payments are processed.
If you are looking to develop and grow your enterprise, SAP certified Add-Ons for the construction industry are built, managed and implemented for your day to day business.