ERP Software for Contracting industry may include numerous features depending upon the vendors. Across the industry, you can find some ERP features that are very much standard and also includes additional add-ons and modules for them to assist with specific requirements of their business. ERP Contract Management has special features to increase the business revenue and as well as the manual workflows.
Within ERP systems, you do not have a standard feature for using the Contract management; the consumers must be upfront to understand the ERP software to attain the potential solutions. Let us discuss on the ERP Contract Management in detail.
ERP Contract Management
The functions of Contract management are already integrated with the Contract ERP software to ease your business process like contract templates development. ERP program will act as a database to store the workflows and information to quicken & automate the business processes like accounting and inventory management. The value-added advantages of using the ERP system by most companies are to avail of various solutions with together packages, functions, and departments.
The software of Contracting ERP India can then measure data analytics across a business while automating interdepartmental workflows. The ERP system will assist the user to decrease the human errors and communication failures that happen within the business process. Across the departments, you can automate the document movement and develop a centralized data hub for workflows and business to simplify the time spent by employees on various tasks.
Similar to working on an online filing system, you can use the Contract management to measure the contracts, develop the templates, and manage the contracts that could impact your sales revenue. The contracts are utilized on business multiple facets within sales contracts or vendor relations. It is possible to streamline business functions by identifying an efficient way to measure and manage those extremely helpful documents.
Contracting ERP Modules Key Features
Find below the list of a few contracting ERP modules key features:
- Supply Bill & Client Billing.
- Billing, Drawing Revision & Subcontract.
- Site Portal with Material Requisition.
- Budgeting and Project Planning Management.
- Site Expense & Accounts Management.
- Project Team with Dashboard.
- Tools Tracking Management & Purchase Management.
- Suppliers -related Purchase Enquiry.
- Contractor vs. Customer Billing.
- Supply vs. Material Demand.
- Bills Pending.
- Project Delay Report.
- Execution Team with Dashboard.
- Consumption Material Pending.
- Project & Loss of Project wise.
- Financial Dashboard.
- Labor Attendance Management.
- Quantity Take off -Site Survey.
- Able to attach the Drawing documents.
- Able to upload the Excel BOQ.
- Issues material or Material Procurement.
- Site Engineer can utilize the Site Portal module.
- Material Planning Management.
- Budget Intimation.
- GRN - Warehouse or Site.
- Supplier Quote Comparison.
ERP Software Modules
You can find a various lists of ERP Software for Contracting Industry available across the online platform for utilization. Find below a few ERP software modules for Contracting Industry:
Project Control and Planning - They have well-planned screen project activities and also the project planning is completed after creating the project calendar.
Sub Contractor Work Order - With the one-click feature, it is possible to assign various Sub-contractors to the selected BOQ items.
Execution Portal - With the help of the Material Requisition page, users can also request their planned materials against the allotted BOQs. Even the consumption of material is recorded by the user.
Purchase Management - Purchase inquiry are created against Direct Indent or Purchase Indent.
Material Requirement Planning - After creating the project calendar, you can complete the project planning.
Finance & Accounts - Contracting ERP software offers an efficient module for maintaining & managing your finance and accounts.
Tendering Management - Based on the SPANCO model, the Tendering Management dashboard can visualize the approach and opportunities.
Project Budgeting - NFRA budgeting module can offer the project direct cost and as well as material cost.
Sub Contracting - Users are allowed to generate both Contract and Sales invoice bill.
BOQ Management - BOQ (Bill of Quantities) can provide a detailed breakdown of quantity, work scope, etc.
Masters & Admin - Within this module, users can create their customized company account.
ERP Software for Contracting - Distinct Process
Find below the distinct process followed within the Contracting ERP software modules:
It is possible to accept various accounting periods (up to a maximum of 12 periods)
Dashboards and User-defined reports.
Multi-department, multi-divisional, and multi-company accounting.
From your budgets to the balance-sheets with comprehensive financial accounting.
The resources such as utilization, job execution, and work requests are tracked with the help of relevant documents and labor timesheet.
It ensures the automatic and accurate location transfer generation is properly centralized under the stock movement control.
The sales process with a comprehensive method monitors the entire activities from pending sales orders, annual sales analysis, location-wise sales reports, invoicing, inquiry, and many more.
Inventories with effective control along with agile linking from top-down or bottom-up operation budget will ensure the better performance from your business requisition to the receipt of the goods.
The contracting processes, billing & execution, estimation, and inquiry are automated comprehensively to offer start-to-finish financial excellence and delivery.
Projects with Equipment Cost tracking, Payroll systems with Labor Timesheet integration, Process Management with Detailed Work-in, Commercial Revisions, and Budget with Contract Management.
ERP Contract Module - Working Process
Detail Cost information
Within the Contracting ERP software, you can integrate with its associated financial suite. It will assist the users to locate the project's actual cost for identifying during the lifecycle of your project to appropriate measures. The initially marked estimations and budgeted stacks are marked within the contracts. This process will create awareness and reduce the budget cost by improving contract performance and mounting costs.
Easy Service Requirements and Integrated Materials
You can gain a centralized system of ERP software to conduct the business processes and maintain the data across numerous departments and company subsets. Besides, the key benefit of integration is clearly associated with the ERP system to create contract management tasks much simpler. For instance, a few sets of contract management solutions will allow the users to utilize the pricing information and included contract scope for creating the project template by using the integrated project management ERP software.
Measures our company impact based on Billing, Materials, & Sales
The ERP software with Contract lifecycle management can offer the best-given contract visibility that impacts the business aspects. The assets of visibility will adhere to the company measures to given pricing amount and schedule in the mandatory contract. It is much easier with the assistance of revenue management & contract management integration with processes like sales and accounting.
Establish the Company-wide Contract Terms
The base requirements with coordination can assist the entire enterprise or small business with the help of common contract terms. Some standardized contract aspects might include the discounts and applicable pricing, these factors will remain consistent. By using the company-wide contract aspects, the users can easily convert the sales quotes to any other contracts and maintain the basic information like timelines and pricing.
Develop & Customize the Contract Templates
With Contract Management ERP software, the users are allowed to create their customized contract templates to utilize in various business aspects and supply chains. A few companies can even create a standardized sales contract for vendors with a certain size for conducting business. The new vendor can be on-boarded much faster by reducing the time and not required to create a new deal.
Hi Myself Megha, I am working as freelancer content writer for eresource ERP, which provides erp services to various industries. such as ERP Software for Construction Industry, Manufacturing Industry, Tranport & Logistics Industry, Trading Industry etc. Thank you, Megha C.
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