REAL-TIME PROJECT INSIGHT FOREpci Contractors
FASTER RESPONSE. MORE CONTROL. LOWER RISK.
THE REAL-TIME ECONOMY
The Real-Time Economy is the new consumer mindset with expectations of instant access to products, services, and information, stemming from business processes and value chains becoming entirely digitized and connected. The Real-Time Economy is all around us. We see it in every facet of our lives, from the automated and immediate availability of products and services to instant updates on just about anything across all our devices.
This shift into the Real-Time Economy is not new. It has been occurring undeniably for some time. What is new is that this trend is now pervading project-based businesses.As project-based businesses, Engineering, Procurement, Construction and Installation (EPCI) Contractors in the Oil & Gas industry execute complex projects involving multi-disciplinary engineering. The ability to manage these projects, which vary in size and complexity, is often the key to success.
With each contract, EPCI Oil & Gas industry contracting companies have to manage any number of variables, as well as deal with various unknowns, while being responsible for delivering agreed upon outcomes to their clients, often for fixed prices. Not only that but EPCI Contractors often have to manage dozens, maybe even hundreds, of distinct projects that depend heavily on well-managed subcontracts.
As a project-based business, the Real-Time Economy is
What is the Real-Time Economy and
what does it mean for project-based companies?
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DOING BUSINESS IN REAL TIME
FASTER RESPONSE. MORE CONTROL. LOWER RISK.
What does it mean to operate in real time?
It is about monitoring your entire project portfolio continuously with the ability to react immediately when situations change. Project insight, such as estimate at completion, variance, margins and risk profiles should be aggregated and accessed with the tap of a button. Armed with such real-time insight, you are better equipped to meet the demands of the Real-Time Economy by responding faster and exercising more control over risk, profitability, and cash flow.
To help manage the complexity and volume of data, EPCI Oil & Gas industry contractors typically implement disparate project management tools – lots of them – but their business operations run less efficiently than ever.
Unfortunately, generic ERP packages are too limited or segmented in their functionality to allow true project lifecycle management to EPCI Oil & Gas sector contracting companies. A truly functional enterprise software tool for this industry must provide functionality for engineering, procurement, construction, installation, and commissioning. But it must also allow information to flow easily back and forth between these different disciplines in real time so that risk can be managed dynamically as the project progresses.
THE RIGHT SOLUTION
The solution, then, is to integrate all these functions into one Project ERP system that will enable project-driven firms like EPCI Contractors to create business rules to enforce their critical processes and allow them to operate in real time.
The premise of Project ERP is that accurate and timely information must flow seamlessly between the various business functions. That way decision makers will not only have visibility into what’s going on inside the enterprise, they’ll also have greater control over all parts of the business.
ERP RECONSTRUCTED FOR EPCI
To meet the demands of the Real-Time Economy we deconstructed the common processes for project management and enterprise resource planning and unified them into ADEACA ONE – delivering a platform for how project-driven companies should operate. Our unerring passion for the last ten years has been analyzing, optimizing and reengineering the processes
>Addresses your entire project-based business, not just a part of it. With ADEACA ONE, the functions of ERP and operational project management are different aspects of the same system, working together in concert.
Only this comprehensive structure will enable you to meet the demands of the Real-Time Economy.
ADEACA’s Project ERP solution helps manage day-to-day project operations, so EPCI contractors can meet their project goals and deadlines.
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Request a consultation or demonstration with our experts to learn how ADEACA can bring your Energy EPCI contracting business into the Real-Time Economy.