Wednesday, October 03, 2007
The Clancy Group selects IFS Applications to integrate systems and enable real-time cost/value reconciliation
IFS, the global enterprise applications company, today announced that one of the UK’s leading construction companies, The Clancy Group Plc has selected IFS Applications to optimize performance across the organization by integrating systems and improving business processes. The ERP solution will also enable real-time monitoring of the costs and profitability of specific construction projects. The deal is worth just over £1 million and involves the company-wide deployment of the application over two years.
The Clancy Group’s current IT systems consist of separate applications either developed in-house or brought in from external providers. IFS Applications will enhance the efficiency and productivity of all aspects of The Clancy Group business through, for example, full data integration and improved data management, real-time reporting, ongoing cost analysis and more efficient and effective resource allocation.
According to The Clancy Group’s Financial Director, Chris Adkins, IFS was chosen over other ERP providers because IFS Applications addressed all of the company’s requirements, including the timeframe for deployment. “It isn’t just about the software and how it performs though,” Adkins said. “The quality of the people is of equal importance. In this regard, IFS was the most professional in terms of demonstrating capability and responsiveness.”
Crucially, IFS Applications will provide full cost/value reconciliation, from tendering to invoicing, and enable the directors to measure profitability and receive detailed cost analyses by company, division and project – right down to worker, in a timely and efficient manner. This will improve the budgetary process and allow a clear statement of the cash book position to be produced on-demand.
“A key challenge in the construction industry is tracking costs of a project and maintaining visibility of overall profitability,” said Chris Adkins. “IFS could demonstrate that its solution delivers real-time cost/value reconciliation.”
The solution will also allow better control of work schedules and contract requirements by ensuring that, for example, procurements, orders, inventory and job scheduling are fully integrated and automatically checked on a regular basis.
Paul Massey, Managing Director of IFS UK, said: “We look forward to assisting The Clancy Group with increasing productivity and market share in this highly competitive industry. This is a major win for us, reinforcing our position as ‘the one to watch’ in the construction IT sector.”
The Construction, Contracting and Service Management industry is one of IFS’ targeted vertical market segments. The company offers a complete and integrated business solution that manages the entire lifecycle of contracts, projects, assets and services. With IFS Applications, companies can support and improve business processes by collaborating more closely with suppliers, subcontractors, operators and customers. 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 HR. Existing IFS customers in the Construction and Contracting sector include First Engineering, Banverket, Alan Dick, Doosan Babcock, Biwater, Hertel and Harland and Wolf.
About IFS and IFS Applications
IFS (OMX STO: IFS), the global enterprise applications company, provides ERP solutions which enable organizations to respond quickly to market changes. The solutions allow resources to be used in a more agile way to achieve better business performance and competitive advantage. Founded in 1983, IFS has 2,600 employees worldwide. With IFS Applications™, now in its seventh generation, IFS has pioneered component-based ERP software. The component architecture provides solutions that are easier to implement, run and upgrade. IFS Applications is available in 54 countries in 22 languages. IFS has over 600,000 users across seven key vertical sectors: aerospace & defence; automotive; manufacturing; process industries; construction, contracting & service management; retail & wholesale distribution and utilities & telecom. IFS Applications provide extended ERP functionality, including CRM, SCM, PLM, CPM, enterprise asset management, and MRO capabilities.