Construction contracts have always been a major part of the industry, and many of those contracts are now so common that they are included in almost any project. Even if you have been in the business for years, it’s worth taking a fresh look at these vital documents to stay up-to-date for your next project.
South African construction companies have endured a difficult few years. Not only have they struggled as a result of a slowdown in government infrastructure spending, but they have also faced difficulties because of late or slow payment by their clients.
One of the most frustrating aspects of any construction project is trying to maintain accurate, up-to-date, and relevant information about each aspect’s current status. This is particularly difficult with multiple stakeholders who may have different reporting requirements or varying needs, depending on the project’s timeline.
With standout attractions such as Ferrari World, Yas Marina Circuit and du Arena already open, there was a real desire not only to create a world-leading waterpark, but to complete the project on time and on budget whilst enhancing the existing attractions at Yas Island.
Implementation of the VAT elements of HMRC’s Making Tax Digital (MTD) initiative has put non-compliant construction companies and contractors under pressure to rapidly re-evaluate their business systems and put the necessary solutions in place.
The pace of change and development of data and information technology today, is astonishing. The sheer amount of data available can be mesmerizing and, if not managed, thoroughly confusing or even counterproductive.
The world we live in is rapidly moving towards digital for all aspects of business, one of the most aggressive moves is that of the construction world. For many years, construction companies have used legacy systems, which have served their purpose.
If you are reading this article in a location where VAT has been in place for many, many years, you may be thinking this redundant. If you have never dealt with VAT before, however, this may scare the pants off of you.
Towards the end of 2017 and the realisation that the proposed introduction of VAT to the UAE was going to happen, you might remember a discernable uplift in cash flow as companies invoiced and billed to beat the 5% levy about to be incurred.
There are three levers of the construction industry: Man, Machine and Money. Understanding how these three interrelate and impact one another is like constantly asking yourself which came first, the chicken or the egg.
It is likely, by now, you have been looking into the options available in the realm of building software and may have come across some of the more popular names, the highlighted features and even reviewed some case studies from end users.
When asking the question of how VAT will impact the construction
industry in the Middle East, we should consider that all businesses whether
simple small retail stalls right up to multi-national corporations need to
adapt and adjust to the new legislation.
At the cutting
edge of technology, Integrated Construction Project Management software
provides contractors with an incredibly diverse and effective tool box that
they could only think of as pipe dreams in the past.
If you are looking into implementing construction software, you will, no doubt, have spent considerable time researching the options online and viewed countless demonstrations and had many discussions with prospective providers.
When taking the leap to get on board with Construction Software, you need to ensure you are choosing the right package, from the right provider, and that you are going to see a return on your investment.
Although Enterprise Resource Planning (ERP) software is still relatively new in the
market, most major companies have taken the step to embrace technology and
implement an (ERP) solution in preference to stand alone software packages for each
of their departments.
Having researched the massive benefits to be gained from employing an end to end, fully
integrated Construction Software solution and having selected your business partner to
provide it, there are 5 key steps to ensuring you begin to reap the benefits as smoothly and
quickly as possible.