REAL-TIME PROJECT INSIGHT FOREpci Contractors
FASTER RESPONSE. MORE CONTROL. LOWER RISK.
THE REAL-TIME ECONOMY
The Real-Time Economy is the macro-trend in which business processes and value chains are becoming entirely digitized and connected so that data dissemination and business decisions are occurring closer and closer to real time. 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 an Engineering, Procurement, Construction and Installation (EPCI) contractor in the engineering and construction industries, you execute complex projects involving multi-disciplinary engineering. You must ensure the right materials and the right people are available at the right place and at the right time across all your projects.
As a project-based business, the Real-Time Economy is instilling new and more demanding expectations in your customers. The key to success is the ability to manage all of your projects, which vary in size and complexity, in real time.
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 and being able 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,
SPECIFIC CHALLENGES FOR EPCI
With each contract, EPCI engineering and construction 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.
For example, once an oil company finds a significant oil field, a platform has to be built so the wells can be drilled to get the oil to the surface. Then a pipeline has to be laid underwater to get the oil to shore so it can be processed in a refinery. Planning, engineering, fabricating and erecting this infrastructure is quite complicated.
Managing the ensuing risks is a top priority for EPCI engineering and construction contractors as you bid, plan and execute successful projects. Because your margins are already tight, EPCI contracting companies certainly don’t need unexpected events eating into your profits.
The way to mitigate the uncertainty is to make sure the information you have is accurate and timely.
THE RIGHT SOLUTION
EPCI contracting companies build their businesses on delivering completed projects to their engineering and construction clients. If those projects are not delivered on time and on budget, profitability suffers as does your ability to sell post-delivery services and build referral client bases. In order to do this, you need to know the status of any project at any time and be able to react instantly.
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 in real time between these different disciplines so that risk can be managed dynamically as the project progresses.
Ordinary project management software doesn't incorporate the enterprise functions required and traditional ERPs lack these integrated capabilities. You cannot obtain this level of operation without the right system running the right processes.
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.
By choosing ADEACA’s Project ERP solution to help manage day-to-day project operations, EPCI engineering and construction contractors can meet their project goals and deadlines.
Project ERP software from ADEACA will enable EPCI engineering and construction contractors to effectively manage and control your client engagements and all related processes while at the same time provide the required real-time insights into business performance. This means you can operate more efficiently, make timely and informed business decisions, reduce risks and increase profitability.
Request a consultation or demonstration with our experts to learn how ADEACA can bring your EPCI business into the Real-Time Economy.