Even as the building business is booming, the construction industry is facing many challenges; from unpredictable raw material prices, to a shortage of skilled workers and increasing safety regulations. In this environment, keeping costs controlled and projects on-time is important.
What if there were a way to greatly improve the pace of your financial operation? What if there were a way to improve the way you communicate numbers, data, and costs with key stakeholders in your company?
We used to email over 250 Excel files back and forth during our overhead planning processes. We recognized that this unsustainable. Prophix gave us a solution that is scalable to our business, works with multiple ERPs, is manageable for the Finance team with minimal IT involvement, and has proven to be extremely cost-effective
Dan Derooy Director Of Financial Reporting Skanska USA Building
Prophix’s personnel planning software helps you to quickly build personnel plans and generate total payroll costs by project, department or division. Automate complex payroll calculations like employee benefits and bonuses, overtime, payroll taxes, sick leave etc. and free yourself up to focus on the big picture. Use Prophix allocation engine to automatically apply fully loaded employee costs and other expenses of each department to projects, job costs or hourly rates.
With Prophix self-service interactive dashboards, project managers can get an immediate snapshot of financial data and KPIs to quickly pinpoint projects at risk. Get deeper insight and monitor daily progress with real-time visual analytics and drill-down capability that allows you to compare actuals to budgets by any dimension, such as hours worked, raw materials usage or total costs by work order.
Control project costs and plan for new projects through what-if analysis and driver-based modelling. Evaluate the impact on project revenues, costs and profitability by changing certain variables such as utilization metrics, quality of materials used and billing rates. Seamlessly make adjustments to project budgets, forecasts and cash flow projections based on optimum scenarios.
With Prophix easy-to-use reporting software and powerful analytics, you can measure and report from the work order level up to the consolidated reporting level. Use Prophix’s workflow engine and the ability to be access Prophix from any device to share information with key project team members in the field or at the office. Automate the approval process and provide details such as project profitability, change orders, utilization, job costs and service defects.
Prophix unified Corporate Performance Management platform centralizes all your financial information and ensures your project job cost information is always in sync with your accounting. With a single source of the truth, everyone – from the field to the office, is always working with the most up-to-date cost information, preventing cost over-runs, reworks and project delays.
Together, we can build a strong finance machine.