Construction projects are highly leveraged and require large cash outlays during the course of a project. Managing expenditures is especially important for oversight of multiple projects, when maintaining a healthy cash flow is vital.
In order to track and control job costs it is crucial that you have a system that provides up-to-the-minute visibility to working capital, cash flow, committed costs, over/under billings and both accounts payable and receivable. Seeing this information in real time will allow you to react quickly and maximize your profitability.
CDP’s Job Costing solutions supply easy ways of monitoring profitability on any job. They give complete up-to-date information allowing you to:
- Provide project managers, controllers, and owners with all the information necessary to keep jobs on track and spot any potential cost overruns.
- Analyzing financial performance by job, project manager, division, region or any other related metrics.
- Identify change orders.
- Set system alerts and flags to insure payments are made in a timely fashion and only to those who have provided complete documentation.
- Track payroll across multiple jobs simultaneously to insure each labor resource’s time has been captured against the right jobs.
- Develop automated emails to provide Project Managers and Superintendents real-time access to current Job Cost status.
- Create dashboards to provide exception reporting to clients and executives.
Learn more about CDP solutions for the construction industry.