NetSuite for Construction Companies: Understanding Challenges, Promises and Offerings

vnmt

Feb,8,2022· read

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Construction and real estate industry is one of the sectors that continuously encounter new challenges and demands. Irrespective of your role in the construction industry, the evolving factors and demands continue to create new challenges. You can be a residential or commercial contractor or you can be into trading of construction materials or you can be in construction engineering, these rapid changes remain a constant factor. 

To meet these evolving demands and fast-paced changes, construction businesses need advanced and agile ERP systems such as Oracle NetSuite. NetSuite for construction companies can help scaling up the business operation with ease and can ensure real-time visibility into business expenditure and revenue besides offering out of the box tools for management and reporting as the construction business continues to grow. 

To get the most out of this robust ERP system for your construction business, you need to get advice from a reputed NetSuite implementation consultant with exposure to the construction industry. VNMT Solutions is a leading NetSuite implementation company to help your construction business achieve scalable automation through this ERP system. 

Understanding Typical Requirements of Construction Sector

Like every other sector, construction companies have their own typical requirements that are quite different from companies of other industries. Construction is equally a capital and labour intensive industry in which calculating the cost estimate based upon precise labor and materials cost data is crucial for delivering the right quotation. The entire outline of the project for getting the nod of the investors relies heavily on this precise cost estimate. 

On the other hand, in construction projects project execution delay can impact negatively on the cost besides causing serious issues with a range of aspects. For example, the delay in starting the project can lead to shortage of skilled resources right for particular jobs. The quality checks at the end of the project are also crucial for getting the validation of the authorities and marketing the project. 

How NetSuite Can Help as an ERP Solution for Construction Companies? 

Over the years NetSuite has emerged as the most sophisticated, feature-rich, scalable, customisable and adaptive ERP and business automation system for any industry. For the construction industry also NetSuite meets all requirements. NetSuite construction management suite can address the following shortcomings in construction businesses. 

  • Addressing inefficient processes: NetSuite can speed up processes and reduce delays to a minimum level to positively impact the cash-flow. 
  • Making field services better: NetSuite project management modules for the construction industry provides tools for making estimates right in the field, making or changing work orders, monitoring designs, and tracking the particular parts and required labor corresponding to the design. 
  • Helping pre-assembly: Thanks to NetSuite companies making pre-assembled items for the construction can more efficiently deliver and decide pricing based upon the project.
  • Automating Payroll Management: NetSuite is capable of streamlining the payroll process as per the needs of the business. 
  • Contract Management: NetSuite ERP for the construction industry brings the ease of managing all aspects of the business electronically so that contracts ranging from large multi-year contracts to smaller individual subcontractors and order changes can be carried out most efficiently.
  • Fulfilling Safety Requirements: NetSuite business process automation with its construction modules can help businesses to keep tap on all safety and security requirements by enforcing safety standards and norms of compliance. 
  • Boosting Quality Control Measures: NetSuite ERP for the construction industry comes equipped with robust quality control measures including modules for on-site inspections. 
  • Construction Project Management: Finally, the consolidated NetSuite ERP system allows managing thousands of complicated project milestones and all other aspects ranging from resource management to allocation to cost estimates. 

How NetSuite ERP Automation can Revolutionise Construction Business Operation? 

NetSuite construction management solution configured as per the specific requirements of the business brings all the major features and functionalities of the NetSuite platform. NetSuite standard ERP features and functionalities apart, the construction module configured with the inputs of reputed NetSuite implementation services can meet the particular operational needs for a specific business. This scope of customisation and robust set of tools set apart NetSuite ERP as the most industry-friendly ERP and business process automation solution. 

How can the NetSuite ERP system revolutionise the construction business operation? The following capabilities will explain it. 

  • Fast implementation: NetSuite is always known for built in modules and tools to ensure faster implementation irrespective of the industry or business. Reputed NetSuite integration services with exposure to the challenges if the construction industry can help integrate the legacy software and business data to facilitate process automation in no time.
  • Optimum Scalability: NetSuite fits any size of business operation ranging from small construction projects to multi-layered and large construction projects needing several years to complete. With its cloud-based, customisable and modular approach, NetSuite ERP system can deal with operational challenges of all types. 
  • Robust Controls: The biggest advantage of NetSuite ERP is that it comes with robust and easy to use controls that can be easily changed or configured as per the needs. It also offers pre-configured approval workflows and user roles for efficient and smooth operation. 
  • Module for project and resource management: NetSuite comes with industry-specific modules to help construction companies manage projects and resources more efficiently. The module helps managing resources and project through accounting, budgeting, time and expense management and other tools. 
  • Comprehensive global finance module: The NetSuite ERP system for the construction companies also comes with a robust finance module to handle regular accounting ledger, fixed assets and payables that are key components of most transactions. The module is equipped to deal with different legal provisions, international currencies and languages. 
  • Construction-specific features: The NetSuite ERP for construction comes loaded with an array of industry-specific features and functionalities like cost estimation tool, AIA-compliant billing, payment apps, project inventory, change order handling, quotation creator and many others. 


NetSuite Cloud ERP: Switching From Traditional Legacy Software to Fully Fledged Cloud ERP 

NetSuite Cloud ERP is now ready to connect construction based legacy software solutions like Procore to deliver all operational utilities, tools and features with the power of cloud automation. Expert NetSuite consultants will help you choose the right connector solution to bring together NetSuite cloud ERP and your preferred or existing legacy solution within a comprehensive and powerful package. 

While in the construction industry, businesses often rely on highly industry-specific, legacy software systems that are specifically created with features and functionalities for the construction companies, integrating such solutions with robust cloud ERP platforms like NetSuite often appears to be a challenge. 

The package of NetSuite ERP automation modules supported and configured by the expert NetSuite implementation partner can just bring you the power of cloud automation while allowing you to integrate your legacy construction software with ease. Question is why NetSuite is considered to be the ultimate solution for ERP automation in the construction industry? Well, NetSuite has come as a better alternative to all other software solutions for the following reasons.

Providing Best Solutions to Integration Problems

Many construction companies still rely on antique on-premise solutions and many of these legacy systems have issues in regard to integration with each other. This is why legacy software systems often do not go well with the ERP automation systems. NetSuite integration services in this respect can utilise the modular and customisable aspects of NetSuite and ensure smooth integration.  

Spreadsheets are too Outdated Now

Since construction project management has become extremely complex for several years, many traditional software solutions just do not fit into the new requirements. Now even the supply chains are really global in character and they need to accommodate pre-assembly of many construction materials and parts. This further complicated the business process. All these complexities can no longer be accommodated by traditional spreadsheets. This is where a consolidated ERP system like NetSuite can offer great value. 

Relief from Tasks that You Have Little Idea About 

Construction companies often lack exposure to the latest technologies and evolving landscape of ERP tools and business process automation. Naturally, by choosing different software systems for different departments, construction companies often face silos and performance issues across their processes. NetSuite brings relief to them by taking care of all operational procedures with the right modules and ERP automation features. Thanks to this, construction businesses now can concentrate on their core businesses while the ERP automation is taken care of by NetSuite ERP for construction implementation service. 

Reducing Errors to a Minimum  

With NetSuite, construction companies achieve seamless integration among various technology platforms and can ensure optimum visibility across all functional departments such as accounting, operations, executive suite, and field staff, etc. This consolidated approach also prevents multiple data entries across the system so that there can be least errors in the data.

Every Tool a Construction Business Needs 

Companies by simply bringing their entire processes within a single and consolidated platform can gain great competitive advantage in the market. A construction company with NetSuite can get access to every different tool and application they need without relying on any other third-party service provider. Seamless collaboration among these tools and different modules brings fast paced automation ensuring cost and time savings and new growth opportunities. 

Bringing the Leading ERP in the World 

Oracle NetSuite as the most advanced ERP automation system has already been embraced by leading industry players across the niches. With NetSuite construction companies can easily adhere to the latest industry benchmarks, standards and compliance regulations to stay more updated than their competitors. When you have the world's most powerful ERP system on your side, you are more exposed to growth hacking opportunities. 

Contact Our NetSuite Implementation Partner

Conclusion 

NetSuite for construction companies has opened the never-before opportunities of business process automation. NetSuite, as for every other industry, also brought a power-packed industry-specific set of modules and tools for construction companies. NetSuite is likely to replace the traditional ERP systems across construction businesses in the years to come.