Info-Tech data indicates that almost 30% of Architecture, Engineering, and Construction (AEC) firms are planning to update core management software over the next 24 months. To attain this goal, IT leaders must understand both how ERP software for the AEC market differs from other industries and who the major vendors are.
The ABCs of ERP for AEC
ERP solutions for the AEC market contain many features in common with ERP applications for other industries, notably:
- Financial management modules, including general ledger, accounts payable, and accounts receivable.
- Fixed asset management for tracking physical assets and materials.
- Purchasing and inventory control modules.
- Human resource management modules for managing employee information and compensation.
The AEC market also has unique requirements that aren’t typically addressed by ERP solutions intended for other industries:
- Project tracking modules provide the ability to track accounting information for both billing and receiving on a project basis.
- Project management integration is crucial for enterprises that use products like Primavera P6 or Microsoft Project or detailed project tracking.
- Project change tools enable administrators to adjust the terms and scope of different contracts and adapt to the billing implications.
