EPC or engineering, procurement, and construction is a contracting arrangement where the EPC contractor is responsible for the design, procurement, construction, commissioning, and handover of the project to the end-user or owner.
EPCs require seamless functioning and visibility, which is augmented with software-as-a-service (SaaS) solutions. From streamlining the flow of the operation to increasing agility and reducing costs, Software as a Service is the go-to these days for EPC functioning.
Saas can help track each aspect of the EPC. EPC project management software can aid in handling and executing resources in a way designed and agreed upon by both parties. With SaaS, EPC users can manage different silos as per that particular project’s requirements. The software ensures that the silos are integrated and accessible during all phases of the EPC to maintain transparency and end-toned visibility.
Accounting is a big portion of any contract. SaaS makes the job easier. Keeping track of all costs, payouts, etc, Saas augments accounting efficiency without increasing the pressure on human employees. One of the major advantages of SaaS for EPC is that it helps in bifurcating and deciphering costs about the different project phases. The SaaS integration makes tracking costs and accounts easier, from recording procurements to raising purchase orders with the suppliers.
Documentation, including project meetings, RFQs, RFPs, architecture diagrams, layouts, bills, invoices, procurements, negotiations, contract documents, purchase orders, etc can be streamlined via SaaS. The system helps in mapping project life cycle and management with the help of relevant software. The ease of uploading and accessing documents streamlines the entire process. This helps make a single repository for all the records, making the operation time-optimized.
Besides this, SaaS facilitates setting up pages/ portals wherein providers can access and respond to ‘request for information’ documents, pictures, and other sub-contractor job-related information. This enables real-time collaboration with internal and external stakeholders.
From accessing status reports to cost control by mapping out the budget based on accumulated data, Saas can help with strategic changes, operational optimization and time optimization by reducing any delays in communication and general lag, helping the stakeholders stay ahead of the curve with real-time information at their hands.
Vareyn Solar was founded in 2012 as a solar energy consultant. Over the years, it has provided consultancy services for more than 73 MW of projects across India.
The views and opinions expressed in this article are the author’s own, and do not necessarily reflect those held by pv magazine.
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