According to the Labour Market Information Portal, around 1.16 million people are working in construction in Australia. This represents 9.2% of the total workforce.
Moreover, in the past five years, employment in the industry has grown to 12.6%, with a projected growth of 9.7% by May 2024.
Aside from this growth, the construction sector is also going through rapid technological transformation.
Digital technology is transforming construction
Before, construction was among the least digitised industries. However, over the pandemic, 95% of construction business invested in digital technologies.
These new investments include ERP systems – cloud-based solutions that improve construction project management.
Most businesses know that they need solutions like ERP systems, however, it can be difficult to choose from the thousands of software options out there.
Luckily, there’s a new construction solution that addresses specific construction challenges.
A MYOB solution designed for construction
“We’ve heard from our customers about the many issues they face when managing their projects, budgets and contracts, particularly when they’re on-site, so we knew it was important that we deliver an effective cloud solution that would help resolve these,” MYOB Head of Product Enterprise, Frank Feustel, explained in a press release by MYOB.
“The MYOB Advanced Construction Edition has been developed to be the single source of truth, providing project managers with real-time visibility across all elements of their project, as well as insights that equip them with all they need to know to make informed, strategic decisions and ensure their project remains on time and on budget – anytime, anywhere and on any device.”
So, want to find out more about this ERP system? To sum it up, we’ve listed its specs below from the MYOB features page.
MYOB Advanced Construction Features
Job costing
- Easily manage AP workflows, from entering an invoice through approval routing and cutting checks
- Seamless customer billing, driven by real-time project costing, including up-to-date costs on labour, material, equipment, and more
- Detailed job cost information to identify problem areas and accurately estimate future projects
Project management
- Gain a complete view of your project details including real-time field updates
- Provide instantaneous information flow between your project management team, back-office workforce, and management
- Easily manage and track all activities, issues, changes, project documents, and job costs from one central area
Commitments
- Control cost overruns by automating your project commitments and change order processes
- Easily create and track the status of your subcontracts and purchase orders
- Compare budgets to actuals, track line-item committed costs, and monitor up-to-date vendor payment status
Compliance
- Effectively manage deed of release, insurance certificates, and status updates
- Provide expiration and other alerts to staff and suppliers
Daily field reports
- Streamline field management with daily field reports
- Time collection, subcontractor updates, and job site visitor data all recorded
- Issue and change request tracking and job site weather updates
Here’s what that could mean for your business
- Streamline project management by connecting contracts, budgets, job costing and change orders.
- Maximise profitability with accurate forecasting and project change management.
- Connect people across your business with cloud access.
- Grow your business by minimising manual work, streamlining workflows, and getting more out of every project.
Want to try out this solution? Contact AlphaBiz Solutions
Ready to implement MYOB Advanced Construction for your business? We are the ERP providers for the job. Just reach out to via our contact page.
