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The major setback that holds the collar of Engineering, Construction, and Operations (EC&O) companies are standardization of business processes across various projects. In many EC&O company, businesses focus solely on addressing daily issues rather than deducing the project costs and budgets. This has led to a situation where they find it hard to meet deadlines, which would decipher to profits. Moreover, many businesses do not apply the lessons they learnt from their previous projects on their future projects owing to a lack of structured approach while processing information.
To put it in a cowry, these are the few areas where the industry have to focus more:
• Project management
• Cost Control
• Take-off management
• Estimation accuracy
• Digitization of Business
• Currency management
• Engineering skill-set
• Project Handover
• Incident management
Supply Chain has improved a lot owing to digitization while fostering collaborative and demand-driven supply chain network. You can always meet the growing needs of smart, connected business via network collaboration. You can improve your customer service through inventory strategies while dynamically responding to various changes taking place in the supply chain industry. Manage warehouse management, supply planning, transportation management and logistics networks. These are the solutions provided by SAP for EC&O industry:
You can go ahead with your win rates and increase your project profit. Managing your pre-construction business process gets simpler. With 5D construction solutions, you can directly integrate with estimate, procurement and budgeting systems while boosting your overall efficiency. Optimization of procurement with preapproved subcontracts and real-time visibility on supply chain pipeline would be an assured process. Estimate the pre-construction charges, budget forecasts and Bill-of-Material quantities from engineering designs. Enable virtual design and construction, source and contract, proposal management and pre-manufacturing operations with SAP ECO.
Delivering your projects on time within the budget constraints is a must. Project profitability and achieving operational excellence to exceed your customer expectations while coordinating engineering functions during construction and field operations are must to perpetuate success. Incident management and addressing issues on time becomes possible with the right mobile apps. Handle buying and delivering indirect goods with the best market standards in mind with SAP ECO.
Get the most out of valuable assets. Improve your profit by accelerating facilities and equipment with the right SAP solutions meant for asset management. Performance monitoring becoems simpler than ever. Get the best out of preventive maintainence and reduce the downtime. Handle real estate management effectively and streamline asset maintenance as well as facility operations.
Ensure that there is an increase in the employee and customer satisfaction. Get a grip on your HR services and processes. Manage payroll and attendance, take care of talent management and employee experience management.
While you enable high margins and work under market volatility, as a CFO, you need to make sure that there is operational efficiency. Leveraging business insight is also a necessity. With robust finance processes, every person and company can work together to ensure proper invoice-to-cash and pay, record-to-report and travel reimbursement with risk compliance.
Apart from this, you can enable cross-platform support and emerging technologies such as Blockchain, IoT and Machine Learning to get maximum benefits out of SAP for EC&O module.
Do you need more support? iQuantM is here to support you the right way.
In this blog, let’s take you across the three major activities in the pre-conversion phase.