ERP for real-time commercial project control

Modern contractors need the structure, risk mitigation and visibility that come from enterprise business software optimized for the construction industry. Yet many of the software packages on the market fail to adequately address the complex project financial control needs of construction companies that ensure a project is completed, on time, on budget and at a high quality and by extension, the success or failure of the business.

Not all projects start at the same point, especially if additional contractors are brought in at a later stage. IFS helps the project manager record the indemnities, insurance liquidated damages, letters of credit, guarantees and other requirements of the contract. Sometimes this may involve notch-outs for local, woman- or minority-owned subcontractors. Regardless of the nature of the requirement, failure to address these contract terms will carry a financial penalty for non-performance. At the same time, the commercial manager will also ensure the contract signed with the customer was up to date and determine, in the project financial plan, how much deviation from project requirements could be supported without affecting overall profitability. In order to support significant decisions like this with confidence, IFS gives you a complete, real-time view of your exposure to risk, and total cost to complete.

IFS software is built for construction and delivers real time benefit by encompassing all the cost centers that accrue against a project—labor, materials purchasing, internal and external equipment rental, subcontracts and other cost drivers. This gives you excellent financial project control so you can confidently meet your fiduciary obligation as commercial manager.

Download our executive summary to find out more.