A company’s strategy is key to achieving a competitive edge in the highly competitive Australian construction industry. Therefore making the most informed strategic decisions as fast as possible can be of utmost importance.
Informed decisions however stem from having access to up to date and accurate information. Many companies may think they have this, however unless the data captured is completely accurate and unless the analysis that takes place on the data is correct, the information your decision makers are given is compromised. This leaves room for error and leads to poor decision making.
So where do you get accurate information from?
The right software program can be the tool through which your executive team is informed. An end-to-end enterprise resource planning system (see construction software link to Construction Software article below*) facilitates the flow of information across your entire enterprise resource planning rise. It removes duplication, synchronises workflow and produces real-time information in a standardised format so all of your business functions, whether in the same building or on the other side of the world, have access the information they need to make the best decisions.
How does this support strategic planning?
Accurate data collected from all aspects of a company provides information necessary to determine exactly where a company is and informs decision making for the future. Owners and decision makers can confidently develop company wide strategic plans. With a good enterprise resource planning system implemented, you have full control and can align your operations to the developed strategies. Moreover, the cost of time that was once wasted through data collection and strategy implementation is significantly reduced with the right enterprise resource planning software system in place.
How might this work?
Say, for example, you were using an enterprise resource planning system at your organisation while you ran multiple construction projects at once. With the push of a button you would have access to forecasts that provide you with a clear picture of project trends, profit margins, variation approvals and a detailed project financial snapshot. With this information you can find what work is most profitable, where improvements are needed, and alter your company strategy to play to your proven strengths and address the weaknesses.