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What is the MYOB Advanced Construction Edition?

Are you a construction business in need of a more streamlined and efficient process? Find out more about the MYOB Advanced Construction Edition and its industry-specific features.

According to the Labour Market Information Portal, there is an estimated 1.16 million people working in construction in Australia, representing 9.2% of the total workforce. Over the past five years, employment has grown to 12.6%, with a projected growth of 9.7% by May 2024.

From tight budgets to fixed deadlines, this growing sector faces many unique pressures which require the highest level of efficiency, transparency, collaboration, and control. Because of this, Enterprise Resource Planning (ERP) systems have always been considered an integral part of construction project management to help businesses stay on top of their operations.

In our previous blog post, we went into the complexities of the manufacturing industry and the advantages of the MYOB Advanced Manufacturing Edition. For this article, we continue our discussion on niche and industry-specific ERP systems with a review of the MYOB Advanced Construction Edition.

A press release by MYOB shared MYOB’s Head of Product Enterprise, Frank Feustel’s insights on the tailor-fit ERP system and its innovative functionalities that offer solutions to the challenges of the construction sector.

“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,” Feustel explained.

“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.”

The MYOB Advanced Construction Edition features page lists down the following specifications that will greatly improve your construction processes:

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 lien waivers and releases, 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

With a goal of streamlining construction processes from end-to-end, the MYOB Advanced Construction Edition is set to reduce project complexities by placing all relevant data into one cloud platform which will be easily accessible to all involved, making collaboration among teams easier and gathering accurate insights quicker.

Are you looking for an ERP provider in Western Australia to assist you with implementing Niche ERP systems and industry-specific add-ons to your current systems? Contact the AlphaBiz Team and allow us to answer your queries.

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