Real estate companies manage multiple procedures each day. For larger establishments, the number of procedures to coordinate is bigger and more complex. They need to monitor and supervise several projects simultaneously. While handling these projects remains a critical job, communication becomes less frequent. That’s where the role of ERP software comes into the forefront.
The ERP software does everything from easing the burden on businesses to streamlining the processes in a single solution. Besides saving time, administration expense, and effort, these tools enable a well-informed decision-making plan. While departments get aligned, data accuracy and communication get improved. All in all, managing construction projects is easier and hassle-free with ERP software.
So, having access to such a system from anywhere & anytime is a quintessential requirement for each construction business. So, before considering the construction software Dubai, ensure that you find these critical elements in the tool. You can select the software to achieve quantum leaps in the sector.
Key Elements to Consider When Choosing the ERP Software for Real Estate
#1 A Data-Driven Approach
Enterprise Resource Planning or ERP systems get used in different industries. They bring together data sources around the whole real estate business. They allow companies to perform project planning with more efficacy and efficiency.
That includes labour, cost, expected revenue, and material requirements. In short, a data-driven approach helps identify risks & bottlenecks. At the same time, it also determines the project take-offs with more accuracy.
Not having the feature means the organisations need to spend endless hours comprehending project profits and expenses. Besides, managers need to spend more time working on spreadsheets manually &reconciliations.
#2 Subcontracting Components
Without subcontracting components, will the construction software standout? The answer is a simple no. Comprehensive administration and subcontracting management of work orders are quintessential in construction contracts. So, your selected ERP software must offer solutions to:
- Manage the database with updated information on certifications, accreditations, licenses, and insurance of subcontractors
- Offer floating RFQs, comparing and receiving quotes based, and choosing the right subcontractors for the position
- Manage subcontractor’s requests and track their lifecycle till rejected or agreed
- Impact project budgets when and if required
- Provide a seamless process to get applications for payment, issue payment certificates, and conduct certifications
- Track retentions as per work project and order
#3 Labour/Staff Time sheets &Payroll
A time-tracking feature is a prerequisite for construction software. When the system has a feature to plan & manage the utilisation of labour and staff, it improves workers’ efficiency. Accountants and managers spend a lot of effort and time dividing payroll expenses into projects. And significant efficacy gets accomplished by having a joined-up procedure to address this issue. With a time-tracking feature, a company can reduce the need for manual work.
#4 Reporting & Billing
The software systems should have a feature for construction reporting and accounting. Accounting tools can help you track revenues and expenses related to specified projects. With construction reporting, you can generate reports that show the ultimate progress.
The reports are valuable for tracking individual projects’ stature. Besides, they help compare how much the system has progressed concerning different projects. In addition, they also identify potential risks and problems.
On the flip, construction billing in the software enables you to create invoices (both manually and automatically). Automatic billing gets practised via the ERP system that integrates with the accounting tool. It allows the company to track the entire project from beginning to end. The billing feature helps create & manage construction bills, ensuring more accuracy.
So, a sophisticated real estate software system must offer integrated solutions to support each and every aspect of the business. While selecting the software, ensure it offers solutions for planning and project controlling, expenses, and revenue estimation.
Construction software systems can eliminate manual work and reporting. Besides, it creates tremendous efficacy, reduces operational overheads, and cuts time. So, if you want to reduce your work hours and perform remote site inspection, consult the team of SIGNAX today.
Request a demo to learn further about the company’s exclusive ERP software to automate business functions. You can link your office & construction site through the tool. Get an understanding of the tool and take advantage of it today by consulting the team.