Companies in Australia use construction project management software to monitor the profitability and progress of the projects they deliver.
It is critical that this software works according to Australia-specific regulations and handles local workflows. The software must provide payment schedules and a way to manage claim retentions.
You can always see your committed costs for each job. Committed costs are all forecasted costs for a job, including purchase orders, subcontracts, and other costs.
Without this insight, it is difficult to know the profitability before the project ends. Since you now know the forecasted totals, you can react earlier. Whether you need more credit or need to tell your customer doesn’t matter.
You can track the fulfillment of the subcontract with Planyard. In addition to this, Planayard also helps you with payment schedules. When you approve a claim, the subcontractor receives a payment schedule report.
In addition, Planyard also keeps track of retentions. When the work is completed, you can release the retainage and forward the information to accounting.
After you confirm your costs in Planyard, the information will be sent to accounting. Planyard integrates with Xero and QuickBooks, for example.
The costs are approved and connected to jobs by a project manager who knows what budget line item the cost is linked to. Because of this, you don’t need back-and-forth discussions with accounting.
You can manage your central contracts in Planyard and see each job and package’s cash flow and profitability.
You can bill the client every month and ask for their approval. If they approve the invoice, the budget will also automatically be updated to reflect that.
See how Planyard helps businesses like yours succeed - read their stories in our blog.
"Planyard's integration with Xero has streamlined our project financials, providing clear insights and saving us valuable time. It's easy to use and keeps all commitments organized for seamless financial tracking."
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"Planyard saves us 3-4 days per project by simplifying financial tracking and cutting out double data entry. It’s user-friendly and lets us focus on our main tasks."
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"Planyard is basically a live CVR and saves time by making Excel unnecessary. Once a project’s set up, I can rely on Planyard to stay organized without spreadsheets."
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"If there’s some problem with the budget, it just tells you what you need to fix and you’ll be fine. It really just kind of thinks a step ahead for you."
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