5 Signs Your EPC Company Can’t Grow Without ERP
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In the fast-changing infrastructure landscape, Engineering Procurement and Construction (EPC) companies are being asked to deliver projects faster, cheaper, and better than ever before.
Projects have become increasingly complex, stakeholder expectations have increased, it is no longer sufficient to rely on legacy systems and disconnected tools.
For EPC companies who want to scale efficiently and sustainably, it is no longer a nice-to-have to have a fully-enabled enterprise resource planning (ERP) system it is a must-have.
In particular, the Rise with SAP ERP system has become an industry disruptor that comes with integrated solutions designed for EPC firms.
This blog will take a deep dive into the five unmistakable signs that your EPC firm cannot grow without taking advantage of ERP systems such as Rise with SAP, and how partnering with reputable ERP service providers in Mumbai can enhance your operations.
1. Multiple Projects with Limited Visibility
A major challenge EPC firms face is that they must manage multiple projects simultaneously juggling these projects at different locations with little or no real-time visibility across all of them.
When project teams are using spreadsheets, emails, and multiple software systems, project managers tend to struggle with real-time visibility of cost, schedules, resource allocation, and progress in one place.
The Rise with SAP ERP system provides you with a fully automated project lifecycle system which gives you the ability to track all activities associated with every project at every segment in real time, from the design phase through locating, construction and delivery.
This fully automated project lifecycle system gives you immediate access to accurate and real-time project data, and lends stakeholders the ability to make informed and timely decisions based on real-time data in order to minimise delays and reduce the risk of unnecessary costs.
2. Inefficient Procurement and Vendor Management Processes
If procurement processes are delayed, and you are mismanaging your vendors, this can literally bring an EPC project to its knees.
When there is no automated system for purchasing, procuring materials and coordinating with vendors, they can often become manual processes and can be disconnected or misaligned with the project completion schedule.
This results in material shortages on the project site, where you have to stop work waiting for materials on the next order.
3. Weak Financial Control and Compliance Exposure
Monitoring finances across projects, ensuring tax compliance, and ensuring readiness for audits is complex, requiring a certain degree of precision and visibility.
EPC firms relying on manual and legacy systems are prone to late financial reporting, inaccurate budgeting, compliance gaps, and the failure to ensure the tracking of key financial metrics.
The Rise with SAP ERP system offers an integrated financial management module with budgeting, cost tracking, and cash flow tracking to track regulatory positions.
The overall consideration of financial discipline, visibility in reporting, and streamlined audit trail is critical in managing stakeholders and reducing exposure to legal risks.
4. Lack of Resource and Workforce Management
Recognizing, accurately assigning, and controlling resources including labor, equipment, and materials, is a fundamental requirement for delivering projects with a desired level of margin on the schedule.
Absent some level of a centralized overview of availability and deployments, EPC firms will risk either the under-utilization or over-utilization of their assets and workforce.
The Rise with SAP ERP fit in HR, procurement, and project management purposes so planners have complete resources planning and distribution visibility.
Meaning putting the right labour, equipment, and material at the right time and place when the opportunities arise to optimise production and reduce downtime.
5. Limited Analytical Insights and Strategic Planning
Data-driven decision-making is critical when scaling EPC operations in a world of increasing competition and complexity.
If your organisation relies on isolated, staggered data sources, you have difficulty achieving the level of insight needed for value-added forecasting, risk management and strategic planning.
The Rise with SAP ERP system offers EPC services firms access to advanced analytics, actionable business intelligence, and customizable dashboards.
Executives can easily track KPIs, anticipate challenges, and recognise areas for growth and opportunities for invention to drive continuous improvement developments.
Why Leverage ERP Services in Mumbai for Your Implementation Partner?
Adopting the right implementation partner is as perilous as picking the right ERP system. The city of Mumbai, as a rising hub for infrastructure and construction businesses, has many of the most experienced ER service providers, specifically focused on EPC.
An able partner will understand the local regulatory landscape, business practices, and technical challenges to ensure a smooth ‘go-live’ of the Rise with SAP ERP system.
It will help configure the appropriate options and settings to align the configuration with your unique workflows, provide training for increased user adoption, and offer ongoing support for ongoing benefits.
Conclusion:
Is Your EPC Company Ready to Step Into the Future with Rise with SAP ERP?
The signs are evident, as every day fragmented operations, problematic procurement, hidden financials, wasted resources, and inadequate insight can lead to the demise of your EPC firm.
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