The EPC industry is one that is multifaceted and so positively complex that it often keeps C-Suite executives on their toes. For instance, when building, designing or financing a construction project, it is vital to maintain oversight and have cash flow audits throughout the process. The acquisition of invoices at the correct time is an essential part of this process as it eases one’s need to meet pressing demands at a time when dealing with a multitude of issues simultaneously. EPC companies have since employed an array of project management techniques, but this is yet to prove valuable with regards to the way they run their business operations. Effective Project management can be a make it or break it success factor for Engineering and Construction firms.
EPC companies are often running multi-disciplinary engineering issues such as hosting multiple employees, hundreds of different firms and a number of subcontractors simultaneously. As such, EPC firms are dexterous entities that require proper time and budgetary allocations throughout the supply chain to seal all possible money-leaking loopholes. Failure to keep such projects money tight would lead to dismal performances. Some of the ways such money-tightness can be achieved is through the tracking of staff certifications, complying with bank requirements, observing worker safety protocols, and keeping tabs on government regulations such as those governing Public Private Partnerships (P3s).
The Microsoft Dynamics 365 ERP + CRM package enables EPC companies to take charge of their businesses. Unlike other generic ERP solutions, the package offered by SIS is not limited by the complex and sophisticated nature of the project lifecycle. Microsoft Dynamics 365 is an integrated package that is specifically tailored for the EPC companies. It satisfies all their functions from engineering, procurement, construction, installation, and final commissioning. Above all, it facilitates the monitoring of information and this, in turn, enhances dynamic risk management practises.
