How TallyPrime Helps in Managing Construction Businesses

Urmi Sengupta | Updated on: April 10, 2023

Managing a construction project is no easy task, from its inception to execution, there are a multitude of factors to keep in mind. And if keeping track of one project was tricky, having multiple projects in the pipeline at the same time bumps up the difficulty level significantly.

When dealing with multiple construction projects at the same time, the list of tasks that end up having a disproportionate amount of impact increases exponentially. Even the most seasoned project managers have fits when thinking about dealing with multiple project issues. As a result, mismanagement or ignorance about these issues can lead to rise in overall costs and significantly impact the profitability of the project.

Below are some of the common challenges that most businesses face:

Struggling to manage multiple construction projects at the same time
Ensure site-wise cost, revenue, and profitability
Keeping track of material at different locations
Site-wise billing and keeping track of payables and receivables.

It’s just a few. There is plenty you have to manage as an owner of a real estate business

Now, it’s time to put an end to complexities and simplify your business using TallyPrime, a complete business management software for your business

How are comprehensive reports indispensable for construction companies?

Best Bookkeeping Software for Small & Medium Businesses in Bangladesh

How TallyPrime helps in managing construction businesses

To ensure that each phase of the process goes off without a hitch, TallyPrime helps businesses ensure a seamless process, thereby improving operational efficiency. Also, it makes every day's work simple and fast for construction & building material supply businesses

Seamlessly manage multiple sites at the same time

Tracking, recording, and management of factors like time, materials, costs etc., are all accounted for efficiently with TallyPrime software. Even if you are handling multiple projects simultaneously, the data allows you to constantly update financial and operational project status reports to enable businesses to more efficiently control project development and avoid unnecessary pitfalls. At a click of a button, you can get a complete view of the financials of each project, helping you make better business decisions.

Store, transfer, and track materials from one site/location to another

Given that you manage multiple-construction projects, you always have materials stored at each of these sites. With TallyPrime, you can store and track material at each site, get to know the consumption and track materials that are transferred from one site to another. As a construction business owner, you get complete visibility of the material available at each site and make quick decisions.

Site-wise and client-wise invoicing

Billing is a key aspect of any business and is even more important for construction business. The reason, you bill only when you have clear visibility of costs incurred at each site and project. In the absence, it is just an estimate with chances that you bill lower than the cost. It’s not the same with TallyPrime. You can record an accurate invoice with a clear track of project-wise costing.

Also, TallyPrime helps you keep clean track of receivables and payables from each client, for each project.

Generate site-wise cost, revenue, and profitability analysis at a click of a button

The best part of TallyPrime is the insightful reports. As a construction business owner, at the click of a button, you will get to know the material consumption, overhead costs, revenue and profit from each project or site. This helps businesses know which projects are profitable and the areas that require attention.

Manage complete cycle of purchase and sales

Manage complete cycle of purchase & sales from orders, invoicing, delivery note/GRN, and payments/receipts. It’s so flexible that it suits different purchase and sales processes followed by the business. Be it purchase or sales orders, debit or credit notes, keep your books up to date with TallyPrime.

Other features of TallyPrime to simplify your business needs:

Securely access your business reports from mobile to any device using a web browser
Stay on top of receivables and payables with bill-by-bill tracking and ageing analysis
Track attendance, auto-process salary and a wide range of reports/statements for better payroll processing
Organize, track, and manage optimum inventory levels with accurate inventory reports