5 ways MYOB Advanced keeps construction projects on time and budget

Many construction companies rely on manual or disconnected systems to manage their projects. This leads to one of the major challenges faced in the construction industry, projects that stretch timelines and budgets. Delayed schedules are so common they are almost seen as the norm.   

At the heart of any solution, you’ll find a cloud management platform also known as an Enterprise Resource Planning (ERP) solution. ERP solutions like MYOB Advanced are designed specifically for the construction industry. They allow construction businesses to effectively manage their projects with complete real-time visibility.  

Here’s how a cloud ERP solution could be what your construction business is missing.  

1. Connects teams and increases collaboration  

In the construction industry a disconnect or lack of collaboration between teams is quite common. Departmental silos are often created between on-site and off-site office teams due to a lack of understanding as to how their work contributes to a project or how it affects other departments. On and off-site teams can take an almost disparate approach to communication, collaboration and information sharing. 

Organizational dysfunction can hold projects up, suppress innovation, increase errors and unknowingly impact profit. A cloud management platform for construction solves these issues by improving information sharing and communication between on-site and off-site teams. Facilitating collaboration allows teams to work together to resolve issues using real-time accurate data.  

2. Solves issues faster with real-time visibility  

Accessing accurate and real time information using a disjointed system is a time consuming and frustrating process, as teams collate information into multiple spreadsheets or disparate tools. Aside from absorbing hours that could be more valuably spent, by the time data gets to management it can be weeks out of date. With only a retrospective view of the project, decisions are often made based on misleading data. This makes it difficult to catch and respond to issues quickly.  

By replacing those disconnected systems with a cloud management solution like MYOB Advanced, the perspective changes dramatically. With accurate, real-time information feeding into the system, all departments have a real-time oversight into every aspect of your project. This allows construction companies to plan better, react to problems faster and make informed decisions.  

3. Keeps clients constantly up to date  

An often-overlooked process throughout a project is keeping your clients updated on time and budget. Without consistent timely project updates, clients are ambushed by timing and budgeting issues that haven’t been projected and require immediate attention.

A cloud ERP solution designed specifically for construction companies can be instrumental in streamlining communication with clients. An integrated cloud ERP solution will give you the timely access to data you need to update clients, manage expectations and ensure you have the right answers to preserve client satisfaction.  

4. Accurately estimates forecast project costs 

The key to delivering projects on time and budget ultimately comes down to initial estimates and accurate forecasting of project costs. While expert and experienced team members can help guide this process, without real-time accurate data, inaccurate budget forecasting is inevitable.  

MYOB cloud-based construction management software delivers a state-of-the-art solution for construction companies. Built-in benchmarks and detailed job cost information helps to accurately estimate future jobs and forecast project costs. Consequently, project quoting becomes more accurate with detailed insights collected from past projects fed through into estimates.     

5. Automates and streamlines to keep costs down 

Many construction teams use multiple software systems, alongside spreadsheets and other manual options, to manage different aspects of their work. This results in complicated workflows unnecessary manual work, errors, delays and rework. Disconnected systems mean automation is almost impossible, as well as getting an overarching view without time-consuming manual data consolidation.  

A cloud management platform allows you to automate manual tasks and streamline processes, saving you time and money. It will free your team to focus on value adding tasks and ensuring projects continue to run smoothly and within budget. Automation also reduces errors, providing relative insights to keep costs down and projects on budget.  

Build a reputation for delivering on time, on budget construction projects with MYOB Advanced. Harness the power of a cloud ERP solution for your construction business to automate and integrate your processes, have access to timely information and set yourself apart from competitors. 

Learn more about the MYOB Advanced construction edition on our website here or get in contact with Momentum today to discover how your construction company can keep projects on time and budget with MYOB Advanced.