Construction Contract Management
When it comes to construction contract management there are a lot of variables to keep on top of. These include – but are not limited to - planning schedules, allocating resources, staying within budget and meeting deadlines. This can make managing even just 1 contract extremely complex, so when managing multiple contracts at the same time it can become quite a challenge.
But managing multiple contracts simultaneously can be made easier by using Integrity Software’s construction-specific accounting and management software, Evolution Mx. Read on to find out how.
By using a fully integrated accounting and management software, you have access to information from all aspects of the business in one place. In terms of construction contract management this means live costs, value, cash, budget and committed information is instantly available for every contract with no need to collate the information yourself.
Evolution Mx also allows important documents such as site forms, purchase orders, subcontractor invoices, delivery notes and plant hire to be easily visible against the relevant contracts. This allows you to have a full overview of everything relating to your contracts all in one place.
When it comes to construction contract management, keeping track of contract costs is vital. Evolution Mx allows you to define your own cost heads and cost codes to ensure you have a detailed overview of costs that is suited to your business and specific contracts. As well as this, Mx allows for recording operational costs, committed costs and actual cost vs budget. Contract managers can then use this information for detailed reporting.
With our cost value reconciliation (CVR) module, you can see the true costs, budget, and revenue of any contract at any time. This allows for relevant cost and revenue adjustments to reflect the true profitability of a contract.
On each contract, Evolution Mx clearly indicates the key contacts including the Contract Manager and Quantity Surveyor. This is useful for several reasons, firstly it means that other members of the business can easily find who to contact when it comes to enquiries about a particular contract. It can also be used as part of approval workflows, where contract managers can be authorized to approve subcontractor payments or CVR adjustments. This ensures that contract managers have full control and oversight over their contracts.
Our software is a fully integrated solution that allows you to easily keep track of profitability, manage approvals and have instant access to any relevant contract documents. This makes managing contracts easier and helps ensure that you always meet your client’s expectations