Toronto, Ontario, December 19, 2023 – CMiC, a leading Next Generation Construction ERP provider, has recently announced its strategic partnership with Pack Building & Technology, a Vancouver-based real estate builder renowned for its pioneering approach in real estate development, utilizing advanced modular construction techniques along with cutting edge technology, on top of a commitment to creating sustainable, enjoyable community spaces. In an era marked by rapid expansion and a keen focus on sustainable returns, Pack Building & Technology recognized the need for a comprehensive construction management software to streamline its operations and ensure accurate financial reporting throughout all project phases.
Following an extensive evaluation process, Pack Building & Technology has chosen CMiC for its robust capabilities in construction management, citing its comprehensive solutions as pivotal for the company's continued growth and success.
Pack Building & Technology: Pioneering Real Estate Development with an Innovation-Focused Approach
Pack Building & Technology has a mission to elevate living standards and foster engaging community spaces by integrating cutting-edge technology and sustainable practices in its projects. Their approach to project management is thorough, encompassing all stages from development to construction and beyond. Their unique emphasis on leveraging international expertise and innovative technologies has been instrumental in accelerating project delivery and controlling costs effectively.
Focusing on both traditional metal high rises and modular construction, Pack Building & Technology currently oversees the development of 28 homes. With a project duration typically spanning 2 to 3 years, they own and manage properties, emphasizing direct collaboration with their subcontractors.
Business Challenges Faced: Non-Integrated Systems and Ineffective Data Management
Pack Building & Technology, in their pursuit of setting industry standards in real estate development, encountered several operational challenges in recent years, including:
Fragmented Software Systems: The reliance on multiple, non-integrated tools for different aspects of project management, such as QuickBooks for financials and various CRM tools for opportunity management led to disjointed workflows, inefficiencies and the duplication of tasks.
Inadequate Data Management and Reporting: With data being input across different platforms by various teams, Pack Building & Technology faced challenges in standardizing and consolidating this information. The lack of real-time data accessibility hindered effective decision-making and project management.
Limited Bid Management Capabilities: The company’s commitment to transparency in bid processes and detailed RFPs was hampered by sub-par bid management tools.
Recognizing these challenges, Pack Building & Technology realized the need for a comprehensive and robust software solution that could integrate various aspects of project management, enhance data reporting and analytics, and streamline bid and change management processes.
Searching for a “One-Stop Solution” to Meet their Business Needs
Pack Building & Technology embarked on an in-depth search to find the perfect ERP to address their unique business needs. Their exploration led them to evaluate several options, including Sage 300, Procore, and CMiC. The decision to select CMiC was driven by several key requirements that aligned with Pack Building & Technology's strategic objectives:
Unified ERP Solution: The company sought an all-encompassing ERP system that integrated both Financial and Project Management modules. This integration was essential for streamlined project oversight and efficient financial management, ensuring a cohesive workflow across all aspects of their projects.
SaaS Deployment with Cloud Capabilities: CMiC’s cloud-based deployment model offered the flexibility and accessibility that Pack Building & Technology required. With this options, both in-office and field teams can access up-to-date documents and data in real-time, facilitating better coordination and efficiency.
Advanced Data Management and Reporting: CMiC's robust data management capabilities provided the solution they needed, enabling more informed decision-making and strategic planning.
Comprehensive Subcontractor and Change Management: With a large number of subcontractors involved in their projects, the company required a system that could effectively manage subcontractor tasks, as well as change management processes. CMiC’s platform addressed these needs, offering streamlined management capabilities.
Enhanced Analytics for Financial and Project Forecasting: CMiC's sophisticated analytics tools will allow them to extract insights to drive effective financial planning and project forecasting.
Through this evaluation journey, Pack Building & Technology found in CMiC a solution that not only addressed their immediate operational challenges but also aligned with their long-term vision for growth and innovation.
Key CMiC Applications in Pack Building & Technology's Implementation Plan
Here's a glimpse of the key applications in their implementation plan and the corresponding business benefits they will provide:
General Ledger will enable Pack Building & Technology to maintain accurate financial records, streamline accounting processes, and provide a comprehensive view of their financial performance, enhancing transparency and accountability in financial reporting.
Accounts Payable and Receivable will automate and simplify the management of incoming and outgoing financial transactions. This will help in optimizing cash flow management, ensuring timely payments, and maintaining healthy financial relationships with suppliers and clients.
Project Costing will allow Pack Building & Technology to track project expenses in real-time, ensuring that they stay on budget and can identify cost-saving opportunities.
Subcontract Management will help them streamline the process of selecting subcontractors, manage contracts and measure performance.
Change Management will help them handle changes in project scope effectively, ensuring that any modifications are tracked, managed, and integrated into the project plan seamlessly. This will help Pack Building anticipate and adapt to shifts in project timelines and the overall budget.
Project Billing will facilitate accurate and timely invoicing for projects, ensuring that all billable work is captured and billed efficiently, improving cash flow and client satisfaction.
In terms of software deployment, Pack Building & Technology has opted for CMiC’s cloud-based SaaS model. This choice aligns with their infrastructure needs and supports their commitment to leveraging cutting-edge technology in their operations.
Envisioning a Brighter Future: Expected Business Outcomes with CMiC
As Pack Building & Technology integrates CMiC into its operations, the company anticipates significant improvements and efficiencies across various aspects of its business. According to Kevin Liu, the CEO of Pack Building & Technology, “immediately following the launch of CMiC’s ERP, we are looking forward to standardizing processes and ensuring that the way we enter data is consistent.” On top of that, he emphasizes the importance of consistent data entry, reporting, and analytics, viewing these elements as critical to maintaining a competitive edge in today’s dynamic construction industry.
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About Pack Building & Technology:
Pack Building & Technology is a visionary Real Estate Developer backed by technology and headquartered in Vancouver, revolutionizing the housing sector with our rapid steel modular buildings and innovative laneway home solutions.
Pack’s operations are underpinned by an exclusive manufacturing partnership, leveraging global procurement and collaborations with world renowned architectural and engineering firms, ensuring a fusion of superior design, sustainability and resilience in all our projects. Pack manages and owns multiple projects, including the Westbay Crest Townhome project and the Ling Yen Mountain Temple project, demonstrating Pack’s capability in diverse and complex developments.
Pack Building & Technology’s mission, "LIVE STRONGER, LIVE GREENER" reflects the commitment to building sustainable, affordable and resilient cities. Pack offers a comprehensive service package for homeowners looking to develop their laneway home, handling all zoning and development details and offering a seamless experience from concept to completion. Pack targets a diverse market, aiming to secure a significant share in BC's modular housing sector while expanding their laneway home product offering.
About CMiC:
As an industry pioneer, CMiC delivers complete and unified Financials and Project Management software solutions for construction and capital projects firms. CMiC’s powerful software transforms how firms optimize productivity, minimize risk and drive growth by planning and managing all financials, projects, resources, and content assets — from a Single Database Platform™. With customers throughout North America and overseas, CMiC serves one-quarter of ENR’s Top 400 Contractors and hundreds of small and mid-sized construction firms, from general and specialty contractors to heavy/highway and project owners. Over $100 billion in construction revenue is handled by CMiC annually.
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