Digital Transformation in Construction Industry
Overview
According to McKinsey, large construction projects across asset classes typically take 20 percent longer to finish than scheduled and are almost 80 percent over-budget. The growing demand for environmentally sensitive construction means traditional practices must change. Shortage of skilled workforce and supervisory staff continues to be a challenge in the industry. These are deep issues that require new ways of thinking and working. Needless to say, focused digital applications for the construction industry in project planning, execution, monitoring and control activities deliver huge savings in cost, effort as well as project time consumed.
Projects Management
Construction Project Management is a complex activity including numerous tasks such as material delivery, work scheduling, employee tracking, safety and compliance, machine management and so on. It is a nightmare to have these processes tracked on a spreadsheet or a paper. A lot of these are workflow based operations and can be effortlessly automated for increased productivity and cost savings.
Purchase-To-Pay (P2P) Management
Construction projects require a huge number of purchases that involves quotations management, PR to PO tracking, material receipt, inspections and update of finance books. While ERP solutions help in the larger inventory management and their updates, numerous customized workflows are needed to enable end-to-end automation of P2P processes. Iqxora offers the perfect P2P solution that could be setup as a stand-alone application or could be seamlessly integrated with ERP platforms.
Vendor Management
Meet the platform that delivers best-in-class vendor management solutions. Empower your vendors and partners to provide you with the best of their services. Leverage an integrated solution including dedicated modules for vendor onboarding, preferred vendor management, vendor activity tracking, vendor performance management & ranking, vendor invoice management and vendor off-boarding.
Contracts Management
Iqxora Contracts Management application is a holistic solution for creation, approval, storage, tracking and management of enterprise contracts. Includes modules for contract creation, approvals, redlining, electronic signatures as well as multiple prompt reminders before contracts expire. The associated dashboards in Analytics module gives a summary view of contracts maintained and executed with vendor / partner / customer organizations.
