Masonry Magazine May 2011 Page. 38
SOFTWARE
Problem: Your current software is incapable of producing on-demand job cost reports.
Solution: Creating job cost reports from generic programs is difficult because the applications are not designed specifically for construction. Information that cannot be retrieved quickly is of little use to decision makers or project managers who need time to turn around a job. Robust reporting is the cornerstone of most good construction-specific accounting programs. They typically offer advanced reporting features beyond standard reports like customizable report-writers, and easy data input and export into popular third-party software products.
So what specific job cost reporting features should contractors look for in their accounting software? There are four basic components that lead to powerful, virtually limitless job cost reporting:
1.) Job Cost Detail. No matter how complex the job, efficient job costing comes down to how costs are defined and tracked. Users should be able to define any number of phases, cost codes, and cost classes so that they can record and report data as precisely as they need it.
2.) Reporting Flexibility. Good systems provide a multitude of standard reports and make it easy to customize reporting when needed with built-in report writers. These report writers should allow users to create their own drill-downs, equations, what-if scenarios, and more.
3.) Date Sensitivity. This feature allows any report-in job costing or any other module to be run for any time period, even months or years in the past.
4.) A Powerful Database. How and where data is stored affects reporting capabilities. Data protection and the ability to query capabilities via Excel and other Microsoft products are huge advantages.
Good systems provide a multitude of standard reports and make it easy to customize reporting with built-in report writers.
Executing Projects Profitably
- By Mike Gillum
No one ever said managing a construction project was easy. A successful mason contractor must be able to efficiently and profitably manage everything from materials and labor to equipment, budgets and schedules. Traditionally, contractors have managed their projects by keeping all pertinent job-related information in a project binder. Although this has been a standard practice for decades, it has its faults.
Mobile Connect project view
Accessibility is a major challenge. With project binders in the possession of one person, access to project-related details can be extremely difficult for the rest of the team. Another issue is out-of-date, non-detailed data. These problems, among many others, make it extremely difficult for contractors to make informed decisions and manage projects and businesses effectively.
Getting rid of the binders
In today's competitive market, mason contractors need real-time data at their fingertips. Many are turning to complete construction management software to gain critical access to accurate and current information, whether they are in the office or in the field.
With an all-in-one solution that handles the entire project lifecycle, from takeoff and estimating through job cost accounting and project management, mason contractors are able to streamline processes, achieving operational efficiencies and cost reductions. Tasks such as managing sheet revisions, identifying and managing change orders, verifying details (ie. footings), knowing delivery schedules, providing OSHA with requested compliance paperwork, and billing projects as they progress can be simplified with an end-to-end solution.
Project managers, and the rest of the team, can collect and view all project-related information, such as project documents, budgets, contacts, employees, equipment, change order requests, purchase orders, open payables and receivables, and attachments.
Furthermore, project managers can access conveniently all of their important documents and data without having to lug around bulky, hard copy job folders at job sites. Rather, they can use a mobile device, the iPad, to access project details on the road.
Optimizing project execution
Successfully managing a construction project is about managing hundreds of small details. Some details have immediate and meaningful cost impacts and could dramatically hinder the success of a project, which would reduce profit margin on a project or, worse, cost the contractor.
By using a complete construction management software solution, mason contractors are able to achieve end-to-end control, increase visibility, optimize project execution and maximize profitability. IMAS
Mike Gillum is director of product management at Maxwell Systems. Contact him at mgillum@maxwellsystems.com or 800-688-8226, or visit www.maxwellsystems.com.
Problem: You do not have access to specialty billings.
Solution: In order to maintain the necessary inflow of cash, contractors must select the billing method best suited for their jobs. They bill and collect according to their contracts, they bill promptly and never forget about such items as change orders and retention, and they rely on construction-specific accounting software to automate the entire process.
Construction-specific accounting systems support numerous industry-standard billing methods, and complete integration with project management and estimating modules.