Coteccons and FPT IS launch a digital solution for construction cost and efficiency management
On August 3, Coteccons Construction Joint Stock Company (Coteccons) has officially launched a digital solution for construction cost and efficiency management. This is a pioneering project in the construction sector, jointly implemented by Coteccons and FPT Information System Corporation (FPT IS).
Specifically, FPT IS and Coteccons have jointly put overall solutions for finance and site management into operation, including: CCM (Condition Contract Management), EPPM (Enterprise Portfolio and Project Management), Fund Management, integrated with solutions such as: FPT eConstruction, FPT DMS (Document Management System). The project is deployed for Coteccons head office and more than 130 construction sites, helping to directly connect activities at the sites to an ERP system, creating a solid governance foundation for Coteccons.
Pioneering to digitalize the financial management processes helps Coteccons optimize its in-depth business activities and tackle core problems of the construction sector such as revenue and cost management; project life cycle management; site utilities setup; update of the progress, workload, quality of the works; document management system; reporting system… The digitalization project will allow Coteccons to manage subcontracting data and contractor costs in a quick and accurate way, thereby reducing paperwork and optimizing resources and time.
As an unprecedented project in terms of digitalization of construction cost and efficiency management, Coteccons and FPT IS have actively and closely collaborated to analyze and solve major problems in an effective way, as well as closely follow all milestones to deliver the project successfully and on schedule.
Coteccons and FPT IS officially launch the digital solution for construction cost and efficiency management.
Not only transforming itself by pioneering in the digitalization of specialized systems, as well as researching and adopting advanced and secure technologies in the construction sector, Coteccons also aims towards sustainable development, use of environmentally friendly materials, emission reduction, as well as employee development, gradually raising the company’s level to international competitive standards.
At the event, Mr. Vo Hoang Lam – CEO of Coteccons – says: “In order to put the solution into operation, our staff have worked closely with FPT IS throughout the implementation process. Both sides have overcome many challenges and delays to successfully deliver the project on schedule, and initial impressive results have already been seen. The digital solutions for construction management integrated with the ERP system also helps us strongly enhance competitive advantages, not only domestically but also internationally”.
On behalf of FPT IS, CEO Nguyen Hoang Minh says: “Despite the difficulties and fluctuations of the Construction – Real estate sector in recent years, Coteccons has sought a different direction, investing in technologies to create new competitive advantages, ready to make strong breakthroughs when the market rises again. FPT IS is honored to accompany Coteccons in many challenging projects in difficult periods of the market. The fact that FPT IS and Coteccons have implemented the ERP project within 100 days right at the peak of COVID-19 and put into operation the total solutions for financial management, construction efficiency management today has clearly demonstrated the capacity, close and comprehensive coordination between the two sides. As a pioneering project in the sector, we have leveraged our extensive experience in implementing digital transformation for many “key players” in the sector, to define the most optimal methodology to overcome every obstacle during the period of implementation and deliver the project successfully. I believe, with an advanced management platform, Coteccons will constantly make breakthroughs in the construction sector in the coming future”.
Mr. Nguyen Hoang Minh – CEO of FPT IS – speaks of the cooperation between the two companies to conquer many challenging projects.
Previously, in November 2021, FPT IS had successfully completed the first phase of the “backbone” ERP system for Coteccons, creating favorable conditions for both sides to continue with complementary solutions. This was a project with a very high level of complexity and was rapidly implemented in just 100 days during the COVID-19 pandemic outburst, which has clearly demonstrated Coteccons’ great efforts and determination on the digital transformation journey. Based on accurate and real-time data management, the ERP system allows Coteccons to upgrade the value chains and be able to fully respond to complex business processes as a large-scale construction general contractor.
