The role of sub-contractors in the Infrastructure, construction and real estate domain is becoming crucial with each passing day as projects become more complex. Owing to a cut-throat industry competition, need for innovation, inflating costs of materials, new engineering technologies and complex regulatory norms, Real
Estate players are often partnering with sub-contractors, consultants, specialists etc. for on-time delivery of large scale construction projects. As per an estimate, as much as 75 per cent of the total project size of a contract lands with sub-contractors with their numbers varying from 2–3 and even 25–30
depending upon the scale of the project. For a seamless growth, a cutting-edge integrated end to end IT solution is focal for rapid business transformation. A deep dive analysis of the business process workflow reveals that an efficient, unified billing solution plays a dominant role in excelling on project management A well-managed sub-contractor’s billing system ensure streamlining the project to help fetch better returns by definitive savings on cost, time and resources. On the other hand, an on-premise or cloud-based software solution often
furnishes greater transparency in the business processes and keeps a check on compliance failures.
Project Execution; Procurement; Finance are the core pillars that ensure a smoother billing workflow. A single dashboard offering seamless access to operational and financial information warrants enhanced visibility and stronger decision-making room.
An in-depth access to the business processes also enables the scope to reduce costs, enhance efficiency by a great margin and greater accuracy in bids and tenders provides smarter business management. Effective material management also contributes to the timely completion of projects Below are some of the key features of an industry-leading billing solution
● System driven calculation for advance recoveries
● Real-time Material reconciliation based on considering work done and
physical stock lying at subcontractor
● Visibility of work done and other improvements through detailed Payment
● Approval workflow for the Payment Abstract Approval
● Reporting on Vendor Running Account Bill for subcontractor
● Efficient Running of Business Operations
A strategic tool which integrates diverse business activities to achieve the core business objective ensures smoother business processes and amplifies productivity.
Highbar Technocrat is one of the leading end-to-end IT solution providers for the Infrastructure, EC&O, Real Estate, and Power sectors. They are SAP Gold partner and offer a wide bouquet of digitally integrated solutions ranging from implementing SAP-based ERP solutions like Rise with S/4HANA, Cloud-based solutions to 5D BIM for mega infra-projects, RPA & IoT solutions, and many more. With an in-depth understanding and core competence of the construction & infrastructure industry, Highbar is the perfect blend of domain knowledge in the infrastructure business with a team that is well equipped to understand and relate to the requirements of the sector. To know more write us at email@example.com or call +91 89767 11399 or visit www.highbartechnocrat.com
Written by — Mr. Joydeep Banerjee, Head Business Development- Govt., Highbar Technocrat Limited