BuildSmart is a fully integrated, web-based, enterprise management system that includes important functionalities specific to a construction business. Without these construction-specific functionalities, standard accounting systems fall short in providing the information for construction businesses to manage their project costs.
BuildSmart is supplied and developed by RIB CCS and FutureWorx is the Authorised Distributor for RIB CCS in Australia. The RIB organisation is one of the world’s largest construction software suppliers with more than 600,000 users around the world.
At FutureWorx we understand that value is leaked or lost across the entire project lifecycle, where labour/productivity costs and plant & equipment management often represent the largest areas of potential risk. These risks can all be managed using BuildSmart, with the leverage of best practice and years of experience in the construction industry. This allows any construction organisation to immediately gain a competitive advantage. So how exactly does BuildSmart help construction businesses?
1. Control of Procurement
BuildSmart’s Procurement module provides strict control of procurement processes to manage the complete ‘Procure to Pay’ cycle – requisition, approval workflow, purchase order, delivery, accruals, invoice reconciliation & payment. This is all done against the budgets uploaded from the estimating system – procurement by resource/subbie with full budget (quantity and rate) available.
Full visibility at all times of committed costs, remaining budgets, over/under spends by resource/trade and management of subcontractor variations.
2. Enterprise Accounting
The accounting module is at the core of our system and is designed to deal with construction challenges. Live costs are captured by means of site deliveries (on mobile devices), subbie claims, materials on site, liabilities, timesheets, etc. The project cost report is live showing the full status of the project – committed costs, accruals and reconciled costs (approved supplier and subbie invoicing).
Key features include; Valuation Cost ledger; General ledger; Creditors; Debtors; Subcontractors; Plant & Equipment management; Stock management; Fixed Asset management; Cash Book; Bank Recons; Debtor invoices; Plant Hire invoices; Project Cost reporting; Forecast to Complete reporting; Full Project cost tracking down to transaction level; Activity based costing; Mulit Currency; Multiple Organisations (including JVs) with automatic consolidation to Group level.
3. Manage Subcontractors with Ease
Subcontractors may be an ideal solution to the operational needs of a project but only when there is an effective management system in place. We do not treat subcontractors as a standard creditor/supplier as is the case with many accounting systems and the BuildSmart system operates with a separate Subcontractor ledger
Our Subcontractor functionality caters for retentions, variations, materials on site, advance payments, securities of payment, alerts around expiry of insurance certificates, notifications on upcoming end of defects liability period and detailed claim history (this period, previous period and ‘to date’).
4. Asset Management for Increased Productivity
Asset depreciation and loss can significantly reduce a company’s worth, delay projects due to unexpected issues and negatively affect productivity. It is therefore essential to manage these items. Our Plant Management system caters to both known methods of handling plant items namely SMR (Service Meter Readings) or Hourly Readings.
The BuildSmart Plant & Equipment module is a comprehensive asset management toolset including; Workshop and Job Card system; Asset productivity and Utilisation; Fuel management; Enterprise-wide visibility; Internal & External Plant Hire; Depreciation & Warranty information; Usage history, Costs, Billing Rates and Repair history.
5. Easily Control and Optimise Stock
Driving profitability is a major challenge in an asset heavy industry such as construction, but with BuildSmart’s inventory management module, you can easily control and optimise stock levels and minimise capital, resulting in more effective project management and maximised profit.
You can set up unlimited stores to meet your requirements; inventory, plant & equipment spares, yardstock, site stores, consumables, and so on. Small tools are booked out to jobs so that you always know where these items are and avoid unnecessary purchases of new equipment.
6. Instant Payroll
Our payroll system is ATO compliant and fully integrated into the accounts. The system allows you to see your labour costs as soon as they are captured in the mobile timesheet system. Using the latest database technology, simply select the period and run a question and view the information.
Labour costs are captured by contract, by activity and by ledger code (labour type). This allows management to monitor labour costs vs budget and to identify what activities may be causing labour overruns.
BuildSmart supports unlimited employees and payrolls so different payrolls can be setup to cater for different needs (e.g. Pay frequency, allowances, overtime structures, RDO needs, etc.).
7. Cost Reporting in Real-time
Our cost reporting module makes it possible to accurately compare actual costs to anticipated project costs in real-time, allowing for timely management interventions and leading to improved margins and a competitive advantage.
All too often project teams are ‘surprised’ by costs when accounts have processed invoices and claims which normally happens after the end of the month. Therefore, trying to analyse project cost performance at the end of the month is very difficult without a real–time construction cost management solution as is employed in BuildSmart.
Having visibility to accurate cost at all times in construction project management is essential in the process of project cost control. This is at the core of the BuildSmart ethos – being informed means you can take appropriate decisions and avoid nasty surprises.
8. Integration with Candy Estimating & Project Control system
Candy is RIB CCS’ world class pre and post contracts cost system. Candy is widely used in Australia both as a first principles estimating solution and a first principles earned value project controls solution.
Understanding whether or not a project has been delivered according to the budget allowed for in the estimate, is paramount for the sustainability of a construction business. This prevents underpricing for the next bid or perhaps overpricing and losing the next project. It identifies where one can improve processes and optimise productivity. And having visibility of the budget down to resource level at rate and quantity, avoids purchasing errors.
Candy is integrated with BuildSmart; transfer of budgets, rates, quantities, subbie packages and aligned coding (resources, ledger and activities). This means that there is a transfer of all the important information from the pre contracts process to the BuildSmart financial system. This allows for analysis of the delivery process; productivities, resource costs, subbie packages, variations, actual vs budget costs related to line items/activities in the claim schedule and an accurate forecast-to-complete analysis.
BuildSmart has an extensive reporting module allowing one to view almost any permutation of data that is relevant to your business.
Apart from the standard reports in the system, we can set up specific reports driven by alerts and attributes relating to activities and information that is pertinent to the way you run your construction business. The delivery of information in a format that is meaningful and useful to your business means you can act on that information immediately.
If you would like to learn more about our fully integrated, Buildsmart software solution please contact us.