Go lean to grow big
ECONOMY & POLICY

Go lean to grow big

Construction having a major impact on civic life has only been minimally digitized. As per a recent study published by McKinsey, the construction industry ranks the second least in terms of digitization, after agriculture. “Tactive is a construction ERP software that is built from the ground ...

Construction having a major impact on civic life has only been minimally digitized. As per a recent study published by McKinsey, the construction industry ranks the second least in terms of digitization, after agriculture. “Tactive is a construction ERP software that is built from the ground up using real-time experience in construction and infrastructure activities that offers a suite of construction software products that directly addresses the prominent “hard to ignore” pain points faced in the company by every individual office-bearer right from the CEO to the site or field engineer,” says Devarajan Chinnusamy, Chairman & Managing Director, Tactive Software System, as he shares more…Managing 5 M’s and enhancing communicationTactive as a construction ERP seeks to streamline all the operations of a construction company and manage all the 5 M’s of construction; Man, Material, Machinery, Money, and Minutes and utilise or channelise them properly and eliminates wastage, pilferage, duplication of work and overlapping of decisions, etc. Tactive very precisely enhances the communication between site to regional and head offices and this has helped people to overcome the fear of ERP or other such software adoptions. The Tactive Construction Management Software provides the best comprehensive SOP (Standard Operating Procedure) in a digitized form to help construction companies grow and scale up their project sizes. Equipped with the latest technologiesTactive is a cloud and mobile-based product using the latest technologies and the domain expertise gathered over the last six decades from the parent entity operating in the infrastructure sector. Tactive has employed principles of lean construction in the product as well. Tactive has been separated into modules such as tendering and estimation, budgeting and scheduling, project management, procurement management, inventory management, equipment management, finance and accounts, HR and payroll, health safety and quality with a roadmap for PMC, MEP, BIM and IoT integration. TactiveSoft Construction ERP is custom made for builders, contractors and construction companies and can be customised as per the individual needs of the project managers. Key Features: Monthly job cost reports and project-wise zero-based budgets, schedules and actuals Tender bids using inbuilt rate-analysis templates through BOQ imports Client bills, subcontractor work orders, payments and material reconciliations Capture hindrances, work order amendments and billings Project wise client receivables, vendor payable, cash flow and overhead projections Centralised procurement, vendor portal, yard or warehouse operationsMachinery and equipment usage logs, maintenance and internal or external hires Tactive construction mobile app enables the following for project sites (android and ios) DPR, DLR and labour out-turn entry and tracking in Tactive construction mobile appProject wise reports and dashboards Employee self-serve HR apps, approval requests, tasks and messages Padma Bhushan Dr A RamaKrishna (Former DMD of L&T) helped form Tactive’s product in the early stages by providing his expertise. The product has only been a huge success and keeps exceeding its real-time performance expectations of its users across India and the Middle East. Tactive now has at its disposal a committed, and highly experienced team of people on standby to support the clients in the implementation of Tactive and oversee the operational activities without a hassle. (Communication by the management of the company)

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Building Material

JK Cement emerges successful bidder for Mahan coal mine in Madhya Pradesh

This marks the company’s second commercial coal block win, following its acquisition of the West of Shahdol (South) coal block. "The company is committed to becoming self-reliant for its existing cement plants and upcoming projects," JKC stated. The surplus coal from the mine will be sold commercially. The vesting order was handed over to JK Cement during a ceremony at Shastri Bhawan, New Delhi, a critical milestone for commencing mining operations within the stipulated timeline...

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Building Material

Prism Johnson's cement division goes live with Ramco ERP Suite

Prism Johnson has successfully gone live with the Ramco ERP Suite for its Cement Division. This milestone marks a significant step in Prism Johnson's digital transformation journey, leveraging Ramco Systems' advanced enterprise solutions and process control systems to streamline business processes, manufacturing operations and drive efficiency. The implementation includes cutting-edge modules for Maintenance, Sales, Distribution, Finance, Procurement, Manufacturing, Quality, and HR Management (HRM). These solutions enable Prism Johnson to achieve seamless integration across its business and wo..

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Infrastructure Urban

Indian shadow bank Shriram Finance gets record $1.28 billion loan

Shriram Finance Ltd. is reported to have borrowed $1.28 billion in a multi-currency social loan, marking the largest offshore facility ever undertaken by an Indian shadow lender. According to a press release issued by Shriram, the deal is divided across the dollar, euro, and dirham. Sources familiar with the transaction, who wished to remain anonymous, indicated that the tenors in the multi-tranche deal range from three to five years. This loan adds to the surge of offshore debt sales by Indian shadow lenders this year, a trend prompted by the Reserve Bank of India's tightening of rules in Nov..

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