CVR Software For Construction Management
Summit CVR module – consistent, controllable, & efficient Cost Value Reconciliation Software
It’s important for construction organisations to have a streamlined Cost Value Reconciliation (CVR) process. Many construction companies have their own unique approach to CVR, and many processes rely on disparate Excel spreadsheets and databases located outside the central system. These methods are often hidden away in people’s own laptops or PCs, making it difficult for all parties to access the most recent data. Over time, these isolated systems create personalised sources of information to the author, and create “islands of information” that harbor inefficiencies, errors, duplications, or inaccurate data. With Summit CVR module, there’s a better way.
With Summit CVR module, data is gathered and securely stored in a central system. Since the date isn’t held on an employee’s PC, the information becomes visible across the organisation, allowing it to become manageable and auditable.
Custom CVR Software Solution for the Construction industry
RedSky knows every construction organisation has its own unique approach to CVR. That’s why the Summit CVR module is highly configurable. And to help your organisation quickly and easily adopt a centralized CVR process, the module makes it easy to use one of the example CVR templates. As your team adjusts to the new process, it’s easy to extend and expand the functionality to meet your needs.
Getting your construction company started with the Summit CVR module is easy – the RedSky team will configure the system for you. Our developers will visit your company to study your existing CVR processes, methodologies, and reporting requirements.Then, using your requirements and industry best practices, we’ll craft your organisation’s custom Summit CVR module.
Once your Summit CVR module is set up,all your information will be automatically pulled into the core system. Then, the system will automatically apply that information to relevant fields and forms. For example, if you want to create a CVR for a given valuation date or period,the system will automatically do a cost cut-off and then capture all the cost and sales information that has been defined in the CVR up to that period.
If you have a small construction organisation and are looking for CVR alternatives, you can produce CVR reports using the Summit Business Analytics module. Alternatively, you can achieve a more traditional report output using Crystal Reports.
Accruals, adjustments and variations
You may already be able to get a lot of the CVR information you need by running enquiries and reports within Summit. But what you won’t be able to do is change the numbers that are in the system. For example, you may have £1,000 showing in labour costs, but one of your quality surveyors (QSs) may know of another cost that hasn’t yet hit the system. This cost needs to be taken into account when calculating the monthly CVR figures.
In the Summit CVR module, you can adjust the figures that the system has calculated. You can also add comments explaining why the accrual, adjustment or variation is necessary. In the example above, you’ll be able to add the additional cost and explanation to the system to get accurate, up-to-date CVR figures at any time.
Our consultants can also configure your system to give you information about other key areas, like cost complete or the profit of a certain job, both as a value and as a percentage. The Summit CVR module can even calculate the profit job is anticipated to make by subtracting the cost of the job from the given budget.
With the Summit CVR in place, your management team will be able to rely on reported valuation and margin because they’re sourced from a central database. And, since cost movements from valuation date to the end of the accounting period are reconcilable, all parties can work together from a shared understanding.
How long does it take to set up a centralised CVR system?
We’ll help you identify your existing processes and methods and develop a configuration that mirrors them. The CVR within Summit is easy and straightforward, but to make sure you’re completely comfortable with all its capabilities, we’ll also provide training on how to run the system.
In all, you can expect to work with our consultants and feel ready to use your CVR system independently in about two and four consultancy days, depending on the complexity of your requirements.
Find out more about Summit CVR or any of RedSky’s construction-specific software solutions.