Like any other industry, the construction sector has its own specific requirements for an enterprise resource planning (ERP) system. Most construction companies need tools for handling payroll, accounting and finance. Additionally, the ERP software should be equipped with management functionality for inventory, logistics, transport, service fleet assets, contractors and sub-contractors.
Microsoft Dynamics 365 offers all the features mentioned above and combines them with flexible customizations.
Construction Supported by Cloud
Microsoft Dynamics 365 is available for both on-premises and cloud deployment. Both forms have a lot to offer, while the latter has advantages specific to its cloud architecture. First of all, it is a browser-based product, which makes it compatible with smartphones and tablets. It also means all of the devices used in your company will share the same version of this ERP system and enjoy automated upgrades. It makes the software convenient to use outside the premises of your company.
Moreover, Microsoft Dynamics 365 is highly scalable. While it is designed to handle massive data volumes, it also provides organizations with the freedom to include new apps and resign from irrelevant ones. Its licensing costs depend on the number of applications you decide to add to your suite and the number of users as well as their privileges.
There is no annual payment for the complete suite with the maximum access for an unlimited number of users. Instead, companies have a chance to reduce their expenses with monthly payments exclusively for the modules and functionality they really need.
Financial Management with Microsoft Dynamics 365
Microsoft Dynamics 365 provides complex financial and accounting assistance for construction companies of different sizes.
The finance tools offered by this ERP system are useful for handling bank accounts, fixed assets, general ledger and taxes. For instance, you can benefit from improved general ledger reports and analytics for predictive insights with business intelligence.
This software empowers robust work with tax reports and helps global companies adjust to legal requirements around the world. The ERP system also features global banking compliance and allows you to easily create bank formats for online transactions specific to particular countries.
Furthermore, Microsoft Dynamics 365 makes it easier to manage invoices and billing. It supports multiple currencies and offers convenient tools for payment scheduling and configuring alerts and notifications. These features assist employees, minimize their effort and reduce the number of errors. Microsoft Dynamics 365 Finance also has comprehensible budgeting functionality.
Service Performance and Transportation
Construction services and the transportation of materials and contractors are the essence of the building industry. Microsoft Dynamics 365 provides enterprises with complex support in all these areas.
With the apps included in this ERP suite, you can easily estimate the work and transportation requirements for the resources. With the help of artificial intelligence, scheduling and planning become smoother and more accurate. The same goes for logistics. Advanced technologies of Microsoft Dynamics 365 help to build the most efficient routing.
The Microsoft ERP system is also a powerful tool for equipment management. This ERP system utilizes the Internet of Things (IoT) for integration with interconnected computerized machinery. The adoption of this technology has numerous advantages including effective monitoring of equipment condition. You can detect any risks of possible issues before they occur and prevent many unfortunate incidents and expensive downtime.
There is no construction without materials and Microsoft Dynamics 365 will help you to manage your supplies better. It will give you valuable assistance in tracking your inventory, procurement and warehousing, and estimating the demand for materials for your projects. With this help, you will minimize bottlenecks in your project realization.
In addition to it, Microsoft Dynamics 365 has adopted mixed reality, which is an invaluable tool for staff training.
How Can Microsoft Dynamics 365 Improve Your Construction Business?
Microsoft Dynamics 365 brings together multiple work areas essential for building businesses. It integrates your accounting with cost estimation for your projects and connects the field staff with office employees. It makes workflows transparent and easily controllable. Microsoft Dynamics 365 can considerably optimize inventory management, construction and transportation.