Building better business: MYOB launches new cloud solution tailored for construction industry
18 Nov 2020
Leading business management platform, MYOB, today launched MYOB Advanced Construction Edition - new software designed specifically to help contractors and builders manage complex projects and budgets, with real-time visibility.
Backed by MYOB’s premiere cloud Enterprise Resource Planning (ERP) software, MYOB Advanced, the Construction Edition is the latest industry-focused solution in MYOB’s mid-market portfolio and follows on from the release of MYOB Advanced Manufacturing Edition.
Designed with Australian mid-market construction businesses in mind, MYOB Head of Product Enterprise – Frank Feustel, explains that the intelligent functionality of the new MYOB Advanced Construction Edition offers valuable solutions to challenges often experienced by those in the industry.
“Effective project management solutions can be critical to the delivery of successful outcomes for builders, contractors and project managers, not to mention their clients,” Mr. Feustel said.
“We’ve heard from our customers about the many issues they face when managing their projects, budgets and contracts, particularly when they’re on site, so we knew it was important that we deliver an effective cloud solution that would help resolve these.
“The MYOB Advanced Construction Edition has been developed to be the single source of truth, providing project managers with real-time visibility across all elements of their project, as well as insights that equip them with all they need to know to make informed, strategic decisions and ensure their project remains on time and on budget – anytime, anywhere and on any device.”
With integrated functionality catering specifically to the needs of those working in the construction industry, the MYOB Advanced Construction Edition helps users gain complete control over their projects and connect with their teams, with key features solving common pain-points.
- Project complexities are reduced, and time-sensitive processes are streamlined - with budgets, teams and schedules all captured in one cloud platform.
- Team collaboration is improved, with access to the same project information whenever, wherever they’re using the software – this enables easy communication around project updates.
- Fast and accurate insights - thanks to real-time visibility - means issues can be spotted and addressed quickly.
- Budgeting and forecasts are more accurate, with the ability to anticipate changes in project scope and any associated impact on costs on existing projects. Users will also be able to estimate costs for future jobs.
Taking on-site intelligence to the next level, project managers can build a complete history of their project with photo logs capturing day to day progress, providing added insight into progress on site.
As well as giving contractors, builders and project managers more confidence, time and cash back in their pockets, the new solution from MYOB also removes any hassle and confusion out of compliance management.
From warnings about expired certification or the need for insurance liens, a combination of compliance tracking, dashboards and alert notifications will ensure that project managers stay ahead of any compliance-related actions.
“Work in the construction sector is high value but it also comes with high risk, and a big part of our commitment to shoring up the survival and success of local contractors and builders is helping them to manage this risk,” Mr. Feustel said.
“In addition to providing them with an end-to-end platform that helps keep work to time and budget, this also means supporting them to meet compliance requirements that are crucial to their ability to deliver their projects.”
According to the Labour Market Information Portal*, approximately 1.16m Australians work in the construction sector, accounting for 9.2% of the total workforce. Employment numbers in the industry have grown 12.6% over the past five years and with further growth of 9.7% predicted by May 2024, the success of Australia’s construction businesses will play a key role in economic recovery.
For more information about MYOB’s Advanced Construction Edition, visit: https://www.myob.com/au/enterprise/features/construction
*Labour Market Information Portal, August 2020
For more information please contact:
Selina Ife, Communications Consultant, MYOB
MYOB is a leading business platform with a core purpose of helping more businesses in Australia and New Zealand start, survive and succeed. At the heart of MYOB is a customer base of 1.2 million businesses and a network of more than 40,000 accountants, bookkeepers and consultants, for whom MYOB delivers end-to-end business and accounting solutions. MYOB operates across four key segments: Small and Medium Enterprises (SME), Enterprise, Financial Services and Practice. For more information visit myob.com or follow @MYOB on Twitter.