In addition to Dynamics 365, this article explores other popular ERP systems in construction. That way, you’ll better understand what’s available on the market. The key to picking the right ERP platform is matching the available features to how well they suit your company's needs.
The following features are crucial when selecting an ERP system for your construction company. Even though a platform might promote a lot of bells and whistles, you should always center your choice on the needs of daily users who work in the following areas.
Your workers need a tool that helps them plan and monitor construction projects. That means being able to assign tasks for tracking, keeping up with milestones, and making sure the budget doesn’t get out of control. Project managers will also need features that help them manage time and track resource allocation.
For example, managers will need to assign tasks to team members and update timelines based on their progress. The platform should provide views that allow for the assignment of resources using criteria like skillsets and current workload.
How construction businesses manage cash flows can make or break a project. For that reason, you need an ERP that lets organizations centralize the following:
Those working in accounts payable and receivables need the ability to perform functions like processing invoices and managing customer and vendor payments. Your finance teams must also update journal entries and general ledgers, along with reconciling accounts with the most current information.
Other essential financial tasks users rely on ERP platforms for include:
The procurement cycle covers the steps businesses take to locate and obtain the goods and services needed to support company goals. For construction organizations, that includes finding workers, suppliers, and contractors who can help with their project. Your ERP should perform functions like:
Human resources (HR) is responsible for all employee-related matters, including recruitment and payroll. Essential functions they would need from an ERP include:
Construction supply chains are very complex. Businesses must manage rising material costs while remaining efficient in budget management. Inventory management is a core component, with manufacturers tasked with cost-effectively finding raw materials or finished goods without lowering standards.
ERPs are used for supply chain management tasks like:
Below is an overview of the top three ERP systems in construction. As you review each one, think about whether they meet the needs of the projects you typically handle and how well they facilitate company workflows.
One of the things that makes Dynamics 365 construction so powerful is that you can tap into functions from other modules like Project Operations, Finance, and Supply Chain Management. Organizations can configure Dynamics 365 to support their needs, including subcontractor management and compliance reporting.
For example, the Project Management module centralizes project budgets, milestones, and billing. You can also track timesheets and project costs. Dynamics 365 lets you assign subcontractors to specific tasks and monitor how well you’re allotting their time. Other key features you can tap into with Dynamics 365 include:
One way that CMiC differs from platforms like Dynamics 365 is that it is solely focused on the needs of the construction industry. It offers tools for budgeting, change order management, and document control. The system is designed to integrate all financial and field systems to avoid data solos.
There are applications for handling financial workflows, including billing. The platform allows you to sync all financial transactions with the general ledger and job cost systems. One drawback is that the platform doesn’t have the robust AI and automation features provided by Dynamics 365 to streamline these functions.
Other functionality provided by CMiC includes:
Like Dynamics 365, you tap into platform features as needed for your construction business. This gives you more flexibility in designing your ERP system for construction. This real-time ERP comes with an in-memory database for faster transaction processing. SAP S/4HANA comes with AI and machine learning (ML) intelligence to improve forecasting and risk management.
Other features provided by the platform include:
While there are many great options on the market, Dynamics 365 offers a lot of flexibility to construction organizations looking for an all-purpose ERP platform. Internet eBusiness Solutions offers guidance in configuring your setup to fit your company's needs. Contact one of our representatives to learn more about our services.