General contractors are facing more competition and tighter margins along with owner organizations that are demanding timelier and more accurate project information whether it’s budgets, progress or change-orders. Couple this with the disjointed and non-integrated applications running contractor organizations and you have a recipe for disaster. Or at least margin leakage.
Now more than ever in the construction industry, technology is becoming a competitive advantage. It is no longer a luxury to have core business application integrated, it is a requirement. Yet there’s a mission-critical area that is often overlooked for the value it can bring to an organization: integrating project management and accounting/ERP applications. No other applications have as much impact to the success – or failure – of a project driven organization than a tight linkage between the field-facing project management software and the back-office accounting applications.
With more than 20 years’ experience in helping companies unlock hidden value via integration between multiple applications, Morpheus Technology Group defined and continues to refine the integration process. And along the way it has identified seven key benefits that every leading construction company can reap as they integrate core ERP and PPM applications:
- Reduced redundancy – duplicate error prone data is minimized
- Single source – the integrity of data allows better decision-making based on the same information
- Holistic perspective – all project financials and even new sources of information are now available
- Lower costs – no need to have resources manually enter and import/export data; instead, it allows core personnel to concentrate on true business objectives
- Increased IT ROI – leverage the full potential of your ERP and project management investment
- Speedier decision-making – more efficient data exchange be- tween functional departments reduces decision time
- Minimized risk – lower exposure to poor and/or missing data
“We frequently see clients developing workarounds to the challenges they face with non-integrated systems, including hiring additional resources for data entry and also to vet data for errors,” says Randy Nolan, the co-founder of Morpheus Technology Group.
Click below to take a deeper look into the benefits of integration, integration best practices, and a case study on how Crossland Construction Co. Inc. engaged Morpheus Technology Group to integrate Kahua, a leader in construction management software market, with Dexter Chaney’s ERP solution.