Acing EPC Functioning with SaaS

S olar energy has gained a strong foothold in India. With the combined efforts from both the private and the public sectors, solar energy is witnessing positive growth and has found wider acceptance in commercial and individual segments.

Offering immense opportunities for businesses both young and established, the industry is a lucrative sector and Solar EPC in the industry is one of the massively growing business modules. EPC - Engineering, Procurement and Construction is a form of contracting arrangement. In this module, the EPC contractor is responsible for the design, procurement, construction, commissioning, and handover of the project to the end user/ owner. Solar EPC businesses procure solar materials from manufacturers. They then take care of the engineering work including the installation of the plant and the after-installation services.

EPCs require seamless functioning and visibility and this is easily handled with SaaS. Streamlining the operational flow while increasing agility is possible with SaaS. Besides this, Saas also helps EPCs in reducing costs and is, therefore, the go-to these days for EPC functioning.

One of the key elements of SaaS is that it allows stakeholders to track each aspect of the EPC. EPC project management software aids in managing and executing resources in a way that’s designed and agreed upon by both parties. This helps in keeping the terms of the contract intact and prevents breaches and delays. With SaaS, EPC users can easily manage different operations as per the requirements of that particular project. This software ensures that all the steps, developments and insights related to the project are easily accessible to all the parties involved. These can be accessed at any stage during the entire tenure of the EPC. This not only helps in streamlining the project but also maintains transparency and end-to-end visibility.

In addition to this, Project Management Software is an integrated solution and the perfect choice for EPC. It implies that the user can manage different portfolios properly and without hassle as per his needs and requirements. At the same time, it is fully integrated with all phases of EPC activities.

One of the key elements of any project is accounting. A massive portion of any contract, accounting is no easy task but with SaaS, it becomes a piece of cake. Documenting all payouts, expenditures, payments received etc, SaaS aids in making accounting efficient without increasing the pressure on human employees. One of the major advantages of SaaS for EPC is that it not only maintains a clear picture of the entire expenditure of the project but also bifurcates and deciphers the costs of the different project phases. From recording procurement expenditures to raising invoices and Pos for suppliers, the SaaS integration keeps the account books updated and on track.

The larger the project, the more massive the need for documentation. Recording project meetings, RFQs, RFPs, architecture diagrams, bills, layouts, invoices, procurements, negotiations, contract documents, purchase orders etc are often overwhelming and exhausting, This is where SaaS steps in. The system deciphers the project life cycle and management with the help of relevant software. With SaaS, uploading and accessing documents becomes easier thus, keeping the entire documentation process swift and error-free. It also helps in making a single repository for all the documentation.

Besides this, SaaS also facilitates setting up pages/ portals wherein providers can access and respond to RFI’s documents, pictures and other sub-contractor job-related information. This aids real-time collaboration between internal and external stakeholders.

Be it accessing status reports or optimizing costs as per the budget, SaaS streamlines operations based on accumulated data. It facilitates strategic changes, time optimization and operational optimization by reducing any delays in communication and general lag. This in turn helps the stakeholders stay ahead of the curve with real-time information accessible to them.

- Ishan Chaturvedi, Co-Founder & Director, Vareyn Solar