Lumenia ERP HEADtoHEAD™ Guest Post from Tetiana Rohoza at AcuPower.
Are Cost Overruns Hurting Your Construction Projects? See How ERP Can Help
If you are a CFO, Project Manager, or Controller in a construction company, you know how difficult it is to keep projects within budget. Costs can spiral due to unexpected changes, poor forecasting, and inefficient tracking. Uncontrolled spending leads to cash flow issues, reduced profit margins, and missed deadlines.
Many construction firms face these challenges. Research shows that 85% of construction projects exceed their budget, often by 28%.
How ERP Helps You Control Costs
ERP software centralises project budgeting, cost tracking, and forecasting in one system, providing real-time visibility into project expenses.
1. Real-Time Budget Tracking
- Monitor actual costs against budget in real time.
- Identify overruns early to take corrective action.
- Track expenses for materials, labour, and subcontractors in one place.
2. Automated Cost Approvals
- Define approval workflows for purchases and change orders.
- Prevent unauthorised spending and unexpected cost increases.
- Keep a full audit trail of financial decisions.
3. Accurate Forecasting
- Use historical data to improve project estimates.
- Adjust budgets dynamically based on real-time cost data.
- Prevent underestimating expenses before the project begins.
4. Supply Chain Visibility
- Track vendor pricing and compare quotes within the system.
- Automate purchase orders to lock in best prices.
- Reduce delays and unplanned material costs.
5. Labour Cost Control
- Integrate timesheets and payroll to monitor actual labour costs.
- Avoid unnecessary overtime with automated scheduling.
- Track subcontractor payments to prevent duplicate invoicing.
Approach Cost Control with Confidence
At the ERP HEADtoHEAD UK event 2025, we will demonstrate how an integrated ERP solution can help construction companies reduce cost overruns and protect profit margins.
📍 Visit AcuPower during the event to see real-world examples of cost-saving ERP tools.
