Industry Overview
Construction, Development and Property Management companies are typically simultaneously involved in a multiplicity of contracts at multiple sites. This can leads to critical document issues as projects move at varying speeds and documents that are live and current one week may be put on the back burner the next. Furthermore once projects reach the construction stage, documents are often needed at site and at central office and sometimes at the same time. Passing documents to & from central office is cumbersome and costly. Managing the administration of many contracts can also be very time consuming.
In the Construction sector Adest is employed as a central storage repository for many document types but primarily in Accounts Payable for Supplier & Sub Contractor Invoices and in the area of Project documentation.
In Accounts Payable Adest enables Invoices, GRNs etc. to be scanned at site offices or centrally. The documents once captured can be accessed by all who have authority to see them irrespective of whether the person accessing is at central office, at site office or even at home. The system eliminates the need to copy paper records and enables invoices to be checked and approved by Quantity Surveyors or Project Managers is a simple and efficient manner. Processing, Tracking and Reconciliation of accounts is streamlined and visible to all in the accounts department.
For project files documents can be stored in a simple uniform structure ensuring extremely fast retrieval of relevant files and documents as and when required.
Major benefits
- Clearly structured and managed filing of all documents related to projects and improved Document and File control throughout the course of the projects.
- Improved Team Productivity – as a result of instantaneous access to all Project documents to progress projects and invoice information to speed up the approval and accounting process
- Improved Individual Productivity – due to reduction in time taken for filing, retrieval, distribution & re-filing documents to resolve internal and external queries.
- Cost savings from elimination of volumes of copying and reduced staff time filing, reduced stationery, paper retention, copier paper, cabinets and reduced office space.
- Security- enhanced security as all client files can be backed up and the business can resume efficiently in the event of a disaster – which adds value to the business.
- Improved service as a result of Reductions in levels of costly manual input, Elimination of Mislaid & Lost Invoices, Elimination of delays in Filing, Elimination of “frustration of business action” due to “in transit” documents
- In the cases of Joint Ventures the Sharing of documents with partners without requirement for duplication has delivered many productivity gains and significant cost savings.
- Reduced costs relating to physical storage and efficient distribution of site documents.
- Instant reporting capabilities.
- Increased competitiveness through improved control of knowledge throughout the sites and central office.
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