The difference between a construction CPM and a finance ERP

If you’re in the construction industry, finding the right software can help you manage every aspect of the business more efficiently. In your search, you may come across a wide variety of CPM and ERP software, but at first glance, you may not be sure what the difference between them is. Understanding the differences between these technologies can help you decide which is ideal for your tech stack, or whether to invest in both.

What is Construction CPM Software?

Corporate Performance Management (CPM) is a type of platform technology that can make it easier for contractors and companies to manage their operational strategy, mainly through automated analysis processes and reporting functions. These platforms use a system of AI, machine learning, and algorithms to essentially understand different sets of data and use them to make informed decisions at the highest level.

What is Construction ERP Software?

Enterprise Resource Planning (ERP) software is a tool that helps automate the flow of transactions, which serves to increase the efficiency of operations. It does this through in-depth analysis based on data from construction processes, including contractor management, financial management and accounting, human capital management, supplier management, and project management, among others.

Main features of the CPM software

CPM software is used to plan and strategize construction projects at the highest level. It is often used along with an ERP solution along with a CRM for digitization, with CPM solutions acting as a hub to help you get the most out of the rest of the technology.

You can use a CPM solution for a variety of functions to help you with business strategy, including:

  • Forecast of sales, projects and cash flow
  • Corporate budgeting
  • Workforce, materials and equipment forecasts
  • Payroll
  • Procedure and planning

Functions included in the ERP software

With ERP software, contractors and companies can consolidate different data and systems in a single, central solution. With this tool, construction managers have full control over their projects. Contractors use ERP software to:

  • Estimated costs
  • Manage contracts and orders (POs)
  • Manage inventory
  • Plan projects
  • Manage bids
  • Create reports
  • Manage devices and facilities
  • Monitor performance and productivity
  • Edit payroll and payroll

When to use both as a unified solution

Both CPM and ERP software, when used together, can be invaluable in project management and financial strategy. C-level executives and managers can use CPMs to inform their strategies at the highest level and to automate forecasts and reports to make decisions. It can use existing data to predict the impact of various decisions or circumstances – and with data standardization and consolidation, it’s easier to keep projects on schedule and within budget constraints.

In short, using CPMs for strategic planning and ERPs for executing those strategies can help maintain the efficiency of both projects and the business while winning the company.

Briq is a business performance management platform designed specifically for financial professionals in the construction industry.

We combine modern technology with hundreds of years of combined construction experience to give you deep insights into your business.

Briq unifies your financial processes and makes them more efficient, accurate and timely.

By automating workflows, consolidating financial data, and enabling rapid reporting, we enable contractors to make efficient and effective financial decisions.

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