For any successful general construction contractor, whether you perform commercial, industrial, or energy construction work, you must complete projects on budget, on time, and at top quality. You also must manage supplying the necessary materials, equipment, labor, and subcontracted services to get the project done, and your current project management accounting systems may not meet these requirements.
Having your operations, financial data, payroll, project management, communications, scheduling, inventory, and equipment tracking centralized into a single database is critical to success; the centralized system gives you easy access to critical information with alerts, dashboards, and reporting.
The specific requirements in each operation will vary – although, as a group, the general construction operations are similar – and some software solutions are more flexible in meeting your needs. Software is only part of the story, however. To ensure effective operations, you must develop specific processes to ensure the smooth flow of information into and out of the management accounting software. Therefore, software is only 50% of the solution; the remaining 50% is in developing, implementing, and training on the process enhancements required to use the software effectively.
Is your General construction contractor business troubled by:
- Inability to determine profit or loss by project/phase/category?
- Inability to track retainage and holdbacks?
- Non-existent or after-the-fact field reporting?
- Poor project management due to limited access to information
- Low utilization of equipment and labor due to poor scheduling?
- Undocumented project changes?
- Project cost records so behind that you can’t bill by phases?
- Inability to adequately track material costs?
- Inability to manage equipment and labor costs, revenue, and productivity?
- Inability to determine availability of equipment?
- Inability to prepare accurate estimates or track RFIs?
- Cumbersome reporting?
- Inability to adequately track health and safety issues?
Asyma Solutions consultants can improve your business and profits through planning, tracking and process improvements, including:
- Accurate visibility and reporting on job/service profitability with a click of a button.
- Breaking down costs to determine profit/loss.
- Comparing actual cost to estimate and determine if projects/service calls are on budget.
- Proper procedures to document and record all change orders.
- Proper flow of information for timely and accurate job costing.
- Improved office information flow for accurate invoicing and accelerated collections.
- Timely reports to control material, labour, and equipment costs.
- Continuous monitoring of jobs by site and tasks.
- Purchase order control processing with integrated project management.
- Timesheet automation with integration to payroll.
- Improved project management functions for project managers.
Success Story: General Contractor - Ward Bros. Construction Ltd.
Success Story: Specialty Contractor - Hayles and Howe