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. CVR in construction is a vital process and many construction companies have their own unique approach to CVR reporting, 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 the RedSky CVR module, there’s a better way for Cost Value Reconciliation reporting.
With the RedSky 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 understands that each construction company has its own approach to CVR reporting. As a result, the RedSky CVR module is highly customisable. The module also makes it simple to use one of the example CVR templates to assist your organisation in quickly and easily adopting a centralised CVR process. As your team becomes accustomed to the new process, it is easy to extend and expand the functionality to match your requirements.
Getting started with the Summit CVR module for your construction company is simple – the RedSky team will configure the cost value report system for you. Our consultants will come to your location to examine your current CVR processes, methodologies, and reporting requirements. Then, based on your requirements and construction industry best practices, we will configure your company’s bespoke RedSky CVR module.
Once your RedSky CVR module is configured, all of your data will be automatically pulled into the core system. The system will then automatically apply the information to the appropriate fields and forms. For example, if you want to generate a CVR report for a specific valuation date or period, the system will perform an automatic cost cut-off and then capture all of the cost and sales information defined in the CVR up to that point.
If you operate a small construction company and are seeking CVR alternatives, you can use the RedSky Business Analytics module to generate CVR reports, or send data to dynamically linked Excel sheets that have been mapped to the RedSky ERP database.
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 RedSky ERP. But you won’t be able to edit the numbers that are already in the system. For a CVR example, you may have £1,000 in labour costs, but one of your quality surveyors (QSs) may be aware of another cost that has not yet been recorded in the system. This expense must be considered when calculating the monthly CVR figures.
You can adjust the figures that the system has calculated in the Summit CVR module. You can also include comments that describe why the accrual, adjustment, or variation is required. In the preceding example, you will be able to enter the additional cost and explanation into the system at any moment to obtain accurate, up-to-date CVR data.
Our specialists can also configure your system to provide you with information about other key areas, such as cost complete or the profit of a certain job, in both monetary and percentage terms. The Summit CVR module can even calculate the expected profit by removing the job cost from the given budget.
Because reported valuation and margin are sourced from a central database, your management team will be able to rely on them with the Summit CVR in place. Furthermore, because cost variations from the valuation date through the end of the accounting period are reconcilable, all parties can collaborate from the same perspective.
How long does it take to set up a centralised CVR system?
We will assist you in identifying your existing CVR templates, processes and methodologies and develop a configuration that reflects them. RedSky’ss CVR is a simple and straightforward cost value report, but we’ll also provide training on how to use the system to ensure you’re entirely comfortable with all of its capabilities.
Overall, depending on the complexity of your requirements, you can expect to work with our consultants and be ready to operate your Cost Value Reconciliation system independently in four to six consultancy days.
Speak to one of our specialists today!