4 must-haves for your Interior Fit-out industry ERP solution
As with other industries, the Interior Fit-Out industry also is undergoing a transformation driven by technology. Fit-Out businesses must include a robust ERP in their strategy to stay ahead of the competition.
A Fit-out project management software like NAVBUILD that is cloud-based combines technology, intelligence, and collaboration. Powered by Microsoft Dynamics 365, NAVBUILD ERP system helps you deliver projects on time, on budget, and profitably. The Interior Fit Out and Refurbishment contractors can handle a larger volume of projects simultaneously across locations with hundreds or thousands of BoQ Lines, tasks, multiple vendors, and subcontractors and still ensure project quality and timely delivery.
Such an ERP software allows you to automate your business’s core functions, including Estimation, BOQ level cost tracking, Material & Resource Management, Subcontracting, Site management, Billing, Retention, and Project Accounting, and let the team focus more on delivering quality projects. Organizations with such a strategic system can handle contractors, employees, projects, time, money, taxation, and tasks, with ease.
Some of the key benefits of an ERP solution include:
- Efficiency and Compliance
The interconnecting of your business processes through the ERP means more efficient, single source of truth and quick processing. Automated workflows speed up approvals and provide data visibility in real-time. Secure storage and electronic document tracking ensure compliance across projects.
- Better Financial Performance
Improving the bottom line of your business in a competitive market like construction can be challenging to achieve and maintain. You can be proactive with issues as they arise by tracking all project costs and schedule through the automated system. Staying focused on Operations and financial performance means positive cash flow and profitable projects.
- Visibility and Reporting
In the conventional way of running projects, it’s difficult for the management to get a consolidated view of various projects. With NavBuild, you can access accurate information as and when you need it. Insights the executives require are available from the dashboard and reports, assisting strategic planning and data-driven decision-making. But before you decide on the ERP solution that would suit your business, it is essential to know its key elements. This will help you make an informed decision.
- Process Tailoring
The ERP system must let you re-engineer your business processes to suit the evolving dynamics of your project type and customer needs. Such a provision will help you identify unwanted process steps and optimize them.
- Access to Real-time information
A cloud-based ERP solution lets you access your data at any time, from any place, from any device. This has not been entirely possible with many legacy systems and spreadsheets, which involve some level of paperwork. Modern-day ERP solutions have done away with the need to maintain papers and have consolidated the project operations and financials together for real-time insights.
- Eliminating organization Silos
Managing multiple systems, spreadsheets, and various resources across a handful of projects in the traditional way of doing business can be very cumbersome. Imagine doing that at scale! Teams invariably get into silos leading to spending too much time re-entering data in multiple systems, inaccurate data, and less-effective decisions. An Industry ready ERP solution must ensure easy and tight communication across teams, enabling seamless data flow and approvals. It shouldn’t matter if you are at your desk in the office or at the project site. Creating, accessing, and updating data should be smooth.
- Managing the Finances
To be able to allocate resources appropriately, the most important being money is vital to the success of your organization, especially in the Fit-Out projects. You need an automated system to estimate at completion based on the Project progress and revenue realizations. You must be able to track Estimated, Budgeted, committed, and actuals cost Vs Budget at any time, how much is being spent, and on what. This clarity on your expenses is what a new generation of ERP software must bring you.
Irrespective of how big or small your fit-out business is, you must always be prepared for the future. And if you wish to own that future, you will realize that investing in a Pre-configured ERP Software like NAVBUILD, will bring you more benefits and return on investment in the long term.
Developed by CETAS, the leading Microsoft Dynamics Gold Partner and ISV Provider for Engineering & Construction Industry, NAVBUILD, the best ERP for Fit-Out Contractors will not only transform the way you do business but will also optimize your work, improve inter-department communication and collaboration, implement best practices, and Project Governance, putting your accounting team at ease. Contact us to journey into a bright future that is full of possibilities.