Beaver Gulf has signed an agreement with ePROMIS Solutions to conduct a major upgrade of its enterprise resource planning (ERP) software.
The UAE-based construction conglomerate, which recorded revenue of $109m (AED400m) in 2016, said that the upgrade would facilitate its ongoing expansion plans.
US-headquartered ePROMIS, which has supplied ERP technology to Beaver Gulf for more than a decade, said that the data integrity and analytics offered by its ERP Enterprise Edition will help its client to accelerate growth and eliminate operational complexities.
Commenting on the deal, Rajesh Kumar Krishna, chairman and chief executive officer of Beaver Gulf, said: “Based on my experience, ePROMIS [offers] the best ERP software for [the] construction and engineering industry.
“We know we are stronger when we work together, thanks to this long-term, trusting ERP partnership with ePROMIS.”
The latest ePROMIS ERP Enterprise Edition enables advanced project management, equipment management, cash flow management, and budgeting functionality. The tool facilitates real-time business intelligence across the construction lifecycle, according to its manufacturer.
Beaver Gulf will be able to use the updated software to produce project-specific reports relating to fields such as profitability and cost-value reconciliation. In addition, the technology’s document attachment system will allow the firm to move to a paperless office environment.
The ePROMIS ERP Enterprise Edition also features a payroll management system that will enable Beaver Gulf to conduct payroll-related services for its 7,000-strong workforce in less than half the time required by the previous system.
Profit accounted for 7% of Beaver Gulf’s income in 2016, and the company expects to achieve revenue of approximately $190.5m (AED700m) during the course of this year.
The group acquired three companies last year: United Colour Film, which produces signs and graphics; Dragon Engineering, which operates within the structural steel, and oil and gas sectors; and Mammut Technocrete, which produces precast concrete products.
Within the context of its expansionary activities, Vibhu Reghuvaran, Beaver Gulf’s chief financial officer, emphasised the need to ensure that it is using the latest back-of-house technology. He explained: “As the company expands rapidly, we understood upgrading to [the] more comprehensive ePROMIS ERP Enterprise Edition [was] a necessity for setting continued growth and milestones.”
Beaver Gulf is currently working on an array of high-profile projects in the UAE, including a floating marine service station for Yas Island, and Khalifa Bridge in Abu Dhabi.