Enterprises are taking advantage of the benefits of data, and construction is no exception. By integrating enterprise systems with operations software, businesses are able to enjoy a new level of efficiency and innovation.
Systems such as ERP (enterprise-resource planning) can put data to use by unlocking it from specific applications. For instance, Kofax Limited, www.kofax.com, Irvine, Calif., is supplying its applications to major construction and engineering companies to automate payment processes.
Kofax provides solutions such as Kofax MarkView for accounts payable software, which can be used to automate a construction firm’s accounts payable operations, as well as integrate them with ERP systems, including Oracle.
The MarkView solution automates invoice processing and data entry while also providing best practice workflows for tasks like discrepancy processing, resolution, and accounting details. MarkView 8.0 brings mobile functionality to the solution, allowing its use on iOS and Android devices. The system also integrates with Kofax Mobile Capture, which provides a way for users both inside and outside the enterprise to securely access information required for processing invoices.
By implementing a system such as MarkView, businesses can cut down on manual data entry and labor costs while also helping to ensure information is entered correctly throughout the accounts payable process.
Recently, Ryder Construction, www.ryderconstruction.com, New York, N.Y., announced it is using a similar solution called Textura CPM (Construction Payment Management)—Enterprise from Textura Corp., www.texturacorp.com, Deerfield, Ill. Ryder was interested in a payment-management solution and found the Textura option beneficial. The system electronically integrates the components of a construction payment-management process, including billing, progress claims, lien waiver collection, statutory declarations, sub-tier waivers, compliance management, and payments, into a single workflow.
By automating payment processes, construction companies can eliminate time-consuming manual tasks and focus on what they do best—completing the project.