7th November 2016
The ability to accurately uphold important company information and ensure data integrity is critical for construction businesses. Typically, large and growing businesses with multiple disparate systems find it difficult to move and access data, making them slower at identifying important business information.
Starting to become desperate, with disparate systems? Here we look at the real cost of disparate systems to your business.
Do you hold important information across various platforms, spreadsheets and documents? If so, you’ll likely have felt the pain of disparate systems making it difficult for you to access real time information and insights. Pulling reports from multiple systems to collate them into one report is not only time consuming; but also invites the possibility of human error as it is a manual process.
According to a Harvard Business Review, data-driven businesses are 5 per cent more productive and 6 per cent more profitable than their competitors. Disparate systems often mean that you don’t have a clear view of the businesses financial landscape until year end. Real time insights will enable you to utilise data to improve decision-making processes, plan and execute contracts effectively as well as predict risks. Solutions such as NAVcontracts provide construction companies with end-to-end ERP, facilitating extensive business intelligence and reporting.
Data integrity is extremely important within the construction industry. Incorrect data reported on subcontractors and time spent on projects can have huge tax implications in accordance to CIS legislation.
A single integrated business management solution simply wouldn’t allow costly mistakes to be made. This is because it forces users to assign any data entered to a particular project, ensures the availability of consistent data across the organisation and prevents users from double data entry. Having one business management system also means you only enter data once, reducing the chance of error.
To truly grow your company, every employee must be operating at optimal productivity. Disparate systems often lead to inefficient and disjointed processes. Important processes such as invoicing and project analysis can be extremely time consuming and therefore job profitability can take a lot longer.
Your employees may be spending hour’s manually inputting information, even though the data might already exist elsewhere. Such labour intensive and manual tasks will reduce agility and impact your company’s need to grow. By introducing an integrated software solution, you can untangle your business from disjointed systems, resulting in slicker business processes and increased employee productivity.
In a market where competition is fierce the capabilities of your systems can be the difference between success and failure. By selecting one solution that is designed specifically for the construction industry, you will get an accounting system that fits your business needs.
Give your business the tools to excel in a market where change is accelerating at a faster pace every day. Talk to us about our Construction solutions and how they can add value today…
Call us on 028 9267 7533 or email us firstname.lastname@example.org