Fleming ... focused on meeting requirements.
IFS launches fully integrated solutions
IFS says that its new integrated project management solution features by a full range of back and front office systems together with the capability to support every part of a project’s lifecycle right from inception to decommissioning. The system can help users enhance and streamline business processes by collaborating more closely with suppliers, subcontractors, operators and customers.
01 May 2008
IFS, a global enterprise applications company, recently introduced an enhanced solution – IFS Applications for Project-Centric – that supports project-operated industries in the Gulf’s construction sector, providing them with a comprehensive solution for all aspects of project, contract and asset management.
IFS Applications for Project-Centric organisations is a fully integrated solution that provides comprehensive functionality across all aspects of the construction and maintenance industry. The IFS components for project-centric companies support the complete process from estimating through to decommissioning, covering the whole project and contract lifecycles.
The technology focuses on managing projects, contracting and subcontracting, risk management, cost management, resource allocation and payment processes, while also providing the tools to support project budgets and forecasting.
“There’s a huge demand in the market from companies who are tired of trying to force-fit applications designed with a product focus into project-driven work,” says Ian Fleming, managing director, IFS, Middle East, Africa and South Asia. “An essential element of project work is the ability to interact and collaborate with suppliers, partners and customers. Most traditional monolithic applications don’t make this easy, whereas our project-centric approach enables companies to communicate and also measure success within a partnership.”
The construction, contracting and service management industry is, in fact, one of IFS’ seven targeted vertical market segments. With IFS Applications, construction companies can now support and improve business processes by collaborating more closely with suppliers, subcontractors, operators and customers.
Featuring both a full range of back and front office systems together with the capability to support every part of a project’s lifecycle from inception, delivery and maintenance to decommissioning, the IFS construction solution keeps the user fully informed with the latest data throughout the entire operation. IFS Applications includes functionality for contract and project management, risk management, budgeting and forecasting, engineering and manufacturing, supply chain management, document management and service and maintenance management all integrated with financials and human resources.
According to Fleming, key features of IFS Applications for Project-Centric construction companies include:
• IFS Project Management, offering comprehensive support for all stages of a project lifecycle, from initiation and planning to project execution, completion, and follow-up. It is a comprehensive fully-functional project management tool that focuses on efficiency and planning, both overall and detailed, so that projects can be completed on time and within budget. It also provides transparency and open information flow, to ensure easy communication between all project participants.
• Project contract management enables flexible contract numbering and improved support for copying contracts and retention management. Improved invoicing workflow and customer address selection on invoices and applications allow greater flexibility and speed.
• Subcontract management supports all contractual stages, from requirement to payment, and includes task management, change history and revision control, along with multiple options for approval processes. Flexible payment processes and calculation and valuation methods enable agility and accuracy.
• Project budgeting and forecasting allows the creation of project-specific budgeting and proactive budget control along with multiple project forecast versions. The Periodic Cost Graph allows a graphical view of project performance against time and budget, and users can also use Project Snapshot to view detailed information from any given date and time.
• Risk management functionality provides a qualitative analysis of risk and the ability to manage risk throughout the lifecycle of the project, with constant review and evaluation through severity ratings. The progress of risk reduction can be tracked, along with the overall cost expenditure.
• Project Collaboration allows project information access to be granted to individual project teams, subcontractors and project members according to their responsibilities.
The components that comprise IFS Applications for Project-Centric businesses also integrate with Primavera Project Management and MS project, meaning information can be imported from, and exported to, these external project planning tools.
IFS developed these solutions working with its customers in markets in the UK and Europe, and its efforts have not gone unnoticed. Construction Computing magazine awarded IFS as the “Company of the Year for 2007”, at a prestigious awards ceremony held in London in January this year. The Company of the Year award was voted for by readers of magazine and builds on IFS’ success at the previous year’s event, where it won the “Management Information Product of the Year” for IFS Applications.
Commenting on the company’s work and solutions in this field, Fleming says: “IFS is very focused on meeting the specific business requirements of customers in selected industries such as the construction and contracting sector. Several years ago, we noticed an increasing need in this sector for integrated business applications that supported a ‘project-centric’ way of doing business. Our work in construction is part of our response to that demand. Receiving this accolade from Construction Computing magazine is a wonderful recognition of the IFS approach, which acknowledges not only our software capability but also the ethos of our company and employees.”
The company is now bringing these solutions to the GCC region’s construction sector, in view of the rapid pace of construction development the region is witnessing. “Since the mid-90s, we’ve been developing components tailored to the needs of our customers in the project-based industries,” continues Fleming. “As companies increasingly need to support enterprise-wide projects – running simultaneously and often on a global scale – we found that these advances in application functionality are in demand outside of the original target market too, especially the Middle East region.”
IFS’ Mena (Middle East and North Africa) region operations are carried out of its regional headquarters based in Dubai Internet City (DIC) in the UAE, where IFS commenced direct operations in 2002. IFS employs 270 people in the region and 2,700 globally. Its local customers include: Brother, Brightpoint, Workz, Oilfield Supply Services Company and Hassan Abul.
IFS (www.ifsworld.com) is one of the world’s leading providers of component-based business software developed using open standards. Packaged to meet the unique industry requirements, IFS’ industry solutions provide customers with rapid payback on their investments while investing in selected segments to increase profitability for customers.
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