Digital Transformation in the Construction Industry with Microsoft Dynamics Business Central
The construction industry undergoes various complexities of project management, supply chain, and accounting. In addition, non-streamlined processes across the value chain and system coordination lead to delayed projects.
Construction projects are often plagued by delays and cost overruns. In fact, a study by KPMG found that only 31% of all construction projects come within 10% of their budget.
As we all know, construction projects can involve hundreds, if not thousands, of moving parts. Therefore, it is essential to regularly track and synchronize inventory, employees, independent contractors, suppliers, and materials.
Construction companies need to manage all of these components while staying on schedule and within budget.
So what’s the solution?
Embracing the right all-in-one accounting software for construction would prove to be beneficial. It is an ideal solution to streamline processes and attain project efficiency.
Many contractors are turning to Microsoft Dynamics Business Central. This is because of its impeccable features and functionalities. However, if you are looking for a construction-specific solution, ProjectPro powered by Business Central is all that you need.
Why choose Dynamics Business Central for your Construction Business
"The construction industry is moving towards digitization, and Microsoft Dynamics Business Central is playing a vital role in enabling that transformation." - Sarah LaLiberte, host of the "Construction Corner" podcast.
Microsoft Dynamics 365 for Construction is a smart cloud solution that provides a comprehensive outlook of your construction organization.
Whether your workers are on-site or in the office, they can access and share the same information from a single location, enabling everyone to contribute to completing tasks quickly and within the budget.
With a structured system in place, each project can run smoothly, allowing you to confidently develop your business knowing that Microsoft Dynamics 365 can keep up with you.
In addition, the system connects your ERP and CRM systems, ensuring that your financials and workflows are fully integrated. This makes it easy to obtain real-time data from anywhere in your firm and track expenses throughout a project's lifecycle.
Also, ProjectPro is powered by Microsoft Dynamics Business Central that provides access to exceptional and construction-specific features and functionalities.
Top 10 Benefits of Dynamics Business Central for Construction
1. Manage and schedule resources
A drag-and-drop scheduling feature helps with resource management by ensuring that the right employee with the right tools are assigned to the appropriate projects and that top priority is given to the most important clients.
2. Control document management
Every project requires documentation for success. To ensure consistency and uniformity across teams and departments, it is crucial to maintain strict controls on invoices, blueprints, and customer data.
3. Get a real-time dashboard
Dashboards in Microsoft Dynamics 365 for construction provide project managers with quick access to business intelligence.
To avoid unpleasant surprises and take an active role in project activities, it's important to track Key Performance Indicators (KPIs). ProjectPro is an ideal accounting software for construction to help them keep track of every aspect of a project.
4. Stay focused on your core business activities
Modern technology can be accessed through cloud-based business platforms without burdening your IT staff.
This can help reduce initial costs, eliminate downtime during upgrades, and free up IT resources to focus on creating new value-added technology to support operations and expansion.
5. Keep track of inventory
Ensure you always know the whereabouts of your valuable assets, including your equipment, tools, and supplies, by keeping track of their locations.
6. Keep your clients up-to-date
A real-time view of a project's progress enables you to make accurate cost predictions and provide clients with progress updates. In addition, this level of transparency fosters confidence.
7. Save on admin time
If you choose an integrated solution like Microsoft Dynamics 365, you won't have to spend time inputting or retrieving data from multiple systems.
This is because Microsoft Dynamics 365 seamlessly integrates with your current Microsoft technologies, so everything is located in one place.
8. Become adaptive
Critical business information is now accessible to all employees from any location, eliminating the need to contact the office for information.
A single view of a project provides the ability to anticipate changes and potential delays, enabling changes to be made without compromising the project in any way.
9. Seamless construction accounting
Get support for Project Accounting, AIA billing, change order management (for both owner and subcontractor), advanced budgeting and forecasting, and visual analytics in your mailbox with your coffee.
You can monitor and control revenue recognition in construction projects with add-on solutions.
10. Manage subcontractors easily
Now efficiently manage your subcontractors, submittals, lien management, change orders, and RFIs. Dynamics 365 offers integrated access to maintenance modules, project assets, and more that will help you manage all your subcontracting requirements.
Conclusion
Construction is a complex business; using the right technology can help you overcome daily challenges. As a contractor, you can focus on growing your business and attaining efficiency. So if you are looking for reliable accounting software for construction, ProjectPro is all you need. Schedule a demo now.
