In today’s economic landscape, architecture, engineering and environmental consultancy firms are facing major cash flow concerns and resource management challenges, impacting project delivery and profitability. With a worldwide clientele, BST Global understands the unique challenges for built environment firms and has successfully partnered with them to solve these risks and thrive forward.
It was an informative session as we dived into cash and resource management best practices, helpful tools and streamlined processes specifically for Australasia firms. The session included a demo of BST Global’s flagship ERP solution, BST10, and its cash and resource management capabilities. Here are a few highlights.
- A lack of a resource manager role, siloed utilization goals, lack of visibility to resource availability and workload, and limited communication and collaboration is contributing to major project management challenges
- Major cash flow challenges can include lack of clear roles and responsibilities, rigorous controls, manual processes, lack of billing/collections process documentation and a lack of process evolution
- COVID-19 brought a whole new set of challenges with an abrupt shift to a digital workforce, event greater cash flow concerns and even more pressure on project delivery
- To overcome these challenges, successful firms focus on two key pillars: Empowering project managers, and digitizing and streamlining processes
- BST10, BST Global’s flagship ERP solution built especially for built environment professionals, helps firms empower project managers, and focuses on digitizing and streamlining key processes in the project workflow
- The software’s dashboards delivered out-of-the-box give visibility based on common roles within a project lifecycle, like the Project and Resource Management Dashboard, which will give your project and resource managers complete visibility into the entire project portfolio assigned to them
- Dashboards allow for personalization and saving for your own set view based on your unique needs and interest
- All the information is driven by the data housed within your project documents
- BST10 is suited for everything from the simplest of projects all the way to the most complex
- The resource plan allows the resource manager to see all requests for individuals, the projects that need resources and more, allowing the resource manager to make strategic decisions to effectively manage the resource pool
- Firms that have deployed the BST10 solutions have seen significant success, like nearly 8 hours of time-savings per invoice and the same revenue with 100 less resources needed