Composable Construction ERP with IFS at Procore Groundbreak

We caught up with IFS Industry Director for Construction Chris Knight on construction ERP and the need for project controls.


IRONPROS: There are a number of ERP vendors for construction. Some are very strictly within construction and others are across broader assortments of industries. And the broader ones might not go very far into that construction operation more than the general ledger.

KNIGHT: Today's companies are growing, they're growing faster, especially in North America being very successful in construction with no changes in legislation over here. Typically, they'll start talking about financial solutions ... but their success, their survival is based on how they protect those margins. Those profit margins are so precious, so they need to get that visibility with very complex projects, multiple projects, multiple states, maybe multiple geographies. So how do they make sure that they concentrate on those margins, but at the same time, they need to run their business. They need to do statutory accounting, they need to buy things, they need to make sure they've got people who they need through HR. They need the health and safety side of things. So often the conversation starts with finance. Then it broadens out into how do we manage those complex projects? How do we protect those margins? And then how do we grow?

IRONPROS: I'm sure we'll have opportunities to delve further into what you're up to in construction. But you've recently had some acquisitions--what do you want to tell us about that?

KNIGHT: We're definitely growing by acquisition, and it's very exciting. IFS has recently purchased a company called Falkonry--literally within the last couple of weeks. And for me, it's really exciting because a lot of what we do, in relation to a broad ERP solution, is looking at what's happening right now. Yes, how do we concentrate on protecting those commercial margins, running the businesses, making sure you got the right people. That's all well and good. But what's happening in the future? You know, how can we predict where things are going? So if you think ... stream our full conversation for more.

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