For real estate entities, construction projects present a host of complex challenges. Juggling detailed budgets, constantly changing contracts and unexpected surprises can be difficult even for a seasoned team.
Yardi’s Construction (or Job Cost) module gives users a wide range of powerful tools for simplifying and streamlining the complexities of construction project management.
Start-to-finish project management in one place
All but the simplest construction projects have many moving parts. The Job Cost module puts everything in a single place. Here are just a few of the functions Job Cost adds to Yardi:
- Create a form RFP for contractors to follow, allowing bids to be compared side-by-side.
- Track critical contract data, from fee schedules and milestones to change orders, in a way that allows for real-time comparison to budgets and analysis of projections.
- Invoice management and approval.
- Project budget tracking and reports.
Tailoring the Job Cost module to fit a firm’s processes
Just like the broader Yardi platform, implementing the Job Cost module for the first time provides firms with an opportunity to thoroughly study and document their processes. The Job Cost module can be configured to align with a business’s existing processes while also serving as an added layer of control and verification.
Given the importance of internal controls in today’s business environment, Job Cost can be a crucially important financial management tool. The module’s automation capabilities ensure that Job Cost can be configured to immediately notify senior management and initiate additional approval workflows if an event, like a change order or invoice, will result in an unanticipated budget variance.
Robust reporting is a crucial component of construction project management. Job Cost provides a range of customizable reporting tools designed to provide managers with flexible options for presenting work progress, budget status, and other key information to stakeholders over the course of the project.
33Floors helps clients get the most from Yardi
Click here to download the 33Floors Yardi Module Spotlight that goes into more detail about Job Costs.
33Floors regularly works with clients to fine-tune their Yardi implementations to meet the exact requirements of their businesses. Does your firm need better or more efficient control over its construction projects? The Job Cost module might be the right solution. Give 33Floors a call to talk with one of our professionals about your firm’s challenges.
