Although project managers have broad responsibilities, keeping track of job financials is key. Unfortunately, job cost data and billing actuals reporting is often days or even weeks out-of-date. This leaves project managers guessing as to their gain/loss versus the original contract estimate and their over/under billing.
The reasons most often cited for dated information are lack of access to this data at the right time, query driven reporting and a reliance on accounting/finance for information. Thankfully, modern construction software solutions are providing the tools to solve these issues, as well as streamlining processes through automation and intuitive workflows.
Out-of-the-Box Operational Reporting
Having access to real-time information is critical to a construction project’s success. Cloud-based construction enterprise resource planning (ERP) platforms that integrate software solutions give users immediate access to the data and reports they need to see how jobs are faring and where corrections might need to be made.
Viewpoint Team, for instance, is a web and mobile platform for project management directly integrated with Viewpoint’s ERPs, Vista and Spectrum. This integration, which doesn’t rely on manual processes, connectors or third-parties, provides near real-time job cost and billing actuals in a web browser. The reports are consumed from the project dashboard which provides additional reporting for schedule risk as well as providing access to project information and tools.
Visualized Data for Faster Decision Making
Operational reporting isn’t about using historical data for decision making on current projects. Rather, it’s about the flow of near real-time data for current projects that aids tactical day-to-day decision making. Viewpoint Team’s Contract Summary at Complete report provides job cost estimates that lets project managers know how their projects are performing vs their projections. The Billings-to-Date report shows project managers how much they’ve billed, their actual costs and percentage complete to date.
This data provides a concise picture of whether they’re over/under billing their customers and if they’re on track for completion. Additional reports for Change Management and Contract Summary Month-over Month are in development.
Data Sufficiency for Today’s Pace of Projects
Viewpoint Team improves project manager data self-sufficiency by providing job cost and billing actuals data without jumping to another application, resorting to complicated query driven reporting or having to rely on accounting/finance professionals in the back office to look up and deliver the information needed.
These modern construction software solutions are helping contractors transform their operations in today’s digital age. Contractors taking advantage of these tools are realizing productivity boosts on the jobsite, significantly mitigated project risks, lower costs and higher productivity.
Watch this informative video to learn more about how operational reporting in Viewpoint Team is aiding tactical day-to-day decision making.