Process Automation for Construction Businesses

Construction businesses are changing at a rapid pace due to technology and the lasting effects of the pandemic. Your business is probably experiencing significant digital transformations in several areas.

Boileau’s new process automation tool makes this process easier and aims to improve your business’s processes and decrease costs.

What are the benefits of using Process Automation in Construction?

Finance Management

Visibility

 

Management of the process and overall visibility on upcoming commitments, individual amounts and totals of invoices due in future payment runs along with the approval status of invoices all contribute to effectively managing cash flow.

Purchase Controls – Pre purchase information controls

 

Without control of commitments, businesses cannot understand upcoming commitments until the invoice is received and they are required to pay! This reduces any company’s ability to create meaningful projections of upcoming spend, while also eliminating control over costs.

Scale – Reduced effort

 

Manual processes run on an invoice volume to staff numbers ratio, with increased volumes and business growth forcing extra staff to be required. This does not provide effective methods to scale and often shows lack of redundancy when staff are on leave or move on from the business.

Multiple Systems

 

With businesses utilising both Construction based ERP to manage their work and a separate accounting package to manage the finances, key financial data is required to move between both systems. Without integrations in place the full picture required to be able to make better informed decisions lacking.

Business Owner / Upper Management

Auditability

 

Paper based and manual processes often involve signing hard copy documents or email threads being used for approval. This does not create clear audit trails of who approved a document and when, meaning large amounts of time is spent when being audited to find documents and the relevant approver information. Spot audits for regulatory requirements pose a large company risk profile.

Compliance

 

Paper based processes create the ability for processes to be expedited, when processes are not followed. This is commonly due to the process being difficult and cumbersome. Ability to expedite processes means compliance cannot be enforced and business rules can be ignored.al of $7 Billion in 2018.

Visibility

 

Visibility and reporting are key to making informed business decisions, with paper-based processes, data is only made available once data entry has been completed at the end of the process, meaning decisions are made without visibility of documents currently in the process cycle.

Increase of both internal and external fraud

 

Without predetermined systems checks including ABN information, BSB and Account Numbers, business open themselves up to the possibility of fraudulent activity both by internally and external parties. The Association of Certified Fraud examiners found that businesses lost a total of $7 Billion in 2018.

Accounts Payable and Project Admin Teams

Repetitive low-value tasks

 

Manual processes often require high volumes of low-value tasks, such as routing documents or performing data entry. Studies show that repetitive low-value tasks decrease employee engagement and reduce job satisfaction.

Lost and forgotten invoices

 

Manual processes are often managed via email folders with documents being routed for approval and review by email. Management of tasks through email often results in some things being missed or forgotten, creating delays in payments, and requiring accounts staff to follow up on documents for approval, extending process cycle times and costs.

Visibility during the Process

 

Often when a supplier enquires about invoice payment, the Accounts Payable team often must manually chase up invoice status and provide information back to supplier, this consumes not only the AP Team’s valuable time but also that of the approver.

Duplicated Effort

 

Working in Multiple Systems Managing processes in multiple business systems such as a construction ERP and an accounting package requires matching documents and date from different systems to match documents. This also requires duplicate points of data entry and can often slow down processing of documents.

Project and Site Managers

Visibility

 

The ability for Site and Project Managers to check on the status of invoices is critical to management of actual to forecast project budgets.

Access to supporting documents

 

The Site and Project Managers commonly must look for supporting documents to make decisions to approve invoices. Manually checking for purchase orders or delivery dockets increases the time spent to approve a single document which again significantly increases process costs and is often seen as a major source of frustration for management and supervisors.

Lack of mobility

 

Paper-based approvals require Project and Site Managers to visit a central location which takes them away from their core income producing roles. This not only significantly increases process costs but is often seen as a major source of frustration for management and supervisors.

What Our Clients Say