Construction businesses, mostly consisting of lengthy, multi-million
dollar projects require a unique system to complement its unique
business process. Unlike trading and manufacturing businesses,
construction companies need to manage their projects from estimation
through completion, and beyond, i.e. the entire project life
cycle, while maintaining its profitability. Project and contract
based information systems are difficult to find. Most of the
time available project information is not very accurate or updated,
and project expenses are managed only in the General Ledger,
which creates the inflexibility in estimating the length
and profitability of each project.
Better information and tighter control provides full visibility
of how a project will affect the capacity and cash flow of a
particular construction business. Extensive project history
provides the additional information required in making optimal
use of the company's available resources as well. With such
information and control, the management can deliver within deadlines
and cost targets, while maintaining high profitability and customer
satisfaction.