According to Euroconstruct, a European leader forecast construction market, the construction market in Central and Eastern Europe continues its contraction recorded recently, but the Romanian forecast for 2016 - 2017 is a favorable one, mainly due to the expected increase in residential and non-residential projects. According to the same source, Romania recorded the greatest increase of the construction market in Europe.
The construction managers are facing many challenges, starting with the variety and plethora of construction projects taking place simultaneously, their territorial scattering, the competition, the conditions imposed by the beneficiaries and by the weather that can affect the proper operation of the work site. The greatest challenges, however, are the difficulty of forecasting costs and proper planning and budgeting, which are the key-influencers of the company’s profitability.
SocrateCloud is a decision support system providing information and comparative statistics based on specific financial indicators:
- P & L on project
- Revenue / cost / margin analysis
- Sales by divisions
- Sales by type of project
- Sales by product category
- Sales by customers
- Expenditures by project
- Unallocated expenses
- Cost per project realized versus planned
- Cash flow report
- Work in progress
With the help of these reports and analysis, construction managers have all the necessary data to make the best possible planning and cost budgets, which ensures a real control of the business. In addition, being a flexible ERP solution, every manager has the freedom to create its own specialized reports, which they can later send to others managers in the company.
In construction, working with cost and profit centers is essential as well as the opportunity to examine in detail all the elements of a construction work:
- Highlighting expenditure on projects, phases and subphases and their allocation to cost centers
- Project profitability in real time
- Showing the revenues generated by the projects, phases, subphases
- Tracking the cash-flow
- Managing the supply needs for each project, so there is no delay on the delivery deadline compliance
With SocrateCloud all information is introduced uniformly by all departments and is taken in real time so that it can be reviewed at any time, the basis of rapid and well-informed strategic decisions, resulting in a competitive advantage.
