Oracle NetSuite for Construction Businesses
Recognise revenue for multiple projects at any given time in a single integrated cloud platform.
PointStar Consulting’s construction bundle is a suite of solutions that are tailored specifically to address the unique needs of businesses in the construction industry. The construction business consists of a set of highly complex and unique business processes. Carefully monitoring projects through real-time data helps construction businesses avoid cost overruns and complete projects on time.
The construction bundle offered by PointStar Consulting complements the features offered by the Oracle NetSuite cloud ERP system, and seamlessly integrates other key features and processes that businesses in the construction industry need. The PointStar Consulting Construction Bundle is a one-stop solutions provider for businesses in the construction industry.
Features of PointStar Consulting Construction Bundle
Material Job Costing
Keep track of all the costs from each project and enable real-time analysis of estimation. This feature manages project budget by detailing breakdowns of costs into several categories. Monitor project completion with ease and ensure cost overruns are minimised.
Calculate revenue recognised based on the project completion percentage to date. Each time the revenue is recognised, it will be recorded in the company’s ledger, enabling the companies to keep track of all the revenue recognised to date.
Track resource allocation, work breakdown structure, earned value, time, expense, and transactions. Monitor budgets, estimates, bookings, work in progress, percentage complete, billing milestones, and actual costs to manage multiple projects.
Project Budget Management
Maintain a project record and ensure no disparity between projected costs and actual revenues with features like transaction tracking. Oracle Netsuite equips you with an integrated cloud solution that compiles projections for future projects and increases the accuracy of projections and profit targets.
Retention Management: Retention Release
Manage the decided retention amount’s held-back and releasing process. Tracking amounts held back during the contract is easy by recording the retention amount in the company ledger. The retention amount will be claimed and released after work or for a period.
Work In Progress
Keep a close eye on the financial health of each project in relation to its progress. The report analyses the project’s progression in terms of over-billing and under-billing by keeping track of every aspect of the project in relation to its costs.
Handle Multiple Project Billing, and Revenue Recognition on a Larger Scale
Gain visibility over every project. For construction companies, having systems with limitations is costly. This feature allows construction businesses to calculate revenue recognition, handle retention management, and mass billing for multiple projects.
Profit Loss Report
The profit-and-loss report included in PointStar Consulting’s construction package enables construction companies to assess their financial health. Get an in-depth summary of business expenses for management to spot trends and make critical business decisions.
Work Breakdown Structure
Oracle NetSuite provides you with a work breakdown structure that is defined down to the required level of granularity and links to the transaction, allowing you to have improved visibility over your construction project.
Once each project milestone is achieved, the billing process is automated. In the construction industry, milestones indicate a project’s start or end date, external reviews or input, budget checks, major deliverable submissions, and so on.
Following the process of reserving or allocating resources for the construction of a project, the project manager can integrate into the Resource Allocation module of Oracle NetSuite to decide whether the resource should be assigned to a particular task.
Benefits of Oracle NetSuite for
Why Choose PointStar Consulting
PointStar Consulting is an award-winning Oracle NetSuite solutions provider in the Asian region with over 14 years of experience implementing cloud ERP projects and other cloud solutions that help businesses realise the benefits of workflow automation.
For most companies, implementing a cloud enterprise resource planning (ERP) system may be their first digital transformation initiative. One common riddle concerns the decision of whether to work directly with a solutions provider such as Oracle NetSuite or to work with a partner like PointStar Consulting. Here are 4 things to consider when working with Oracle NetSuite direct vs partner.
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