Chalkstring, the UK’s leading provider of project cost management software for construction contractors, has released major new functionality to enable contractors who subcontract work on a supply & fit basis to scope, price, compare and manage packages of work from within one integrated system, Chalkstring. This replaces numerous, error-prone spreadsheets and simplifies what is often a time-consuming and manual task of going out to tender and then later processing large numbers of subcontractor payment applications. This new functionality also provides significant value to subcontractors, many of which both self-deliver and contract work out.
Chalkstring greatly speeds up the tendering process whereby the contractor can either generate a project scope in Chalkstring or import a scope from the architect or client, instead of using complex spreadsheets. The software generates a quote request template for the subcontractor to price against, ensuring all the tender responses are received in the same format for easy comparison. On receipt of the pricing, the contractor can quickly import multiple subcontractor quotes and easily review and compare proposals in order to decide which company to appoint to the contract.
New, automated functionality for processing numerous subcontractor applications across multiple work packages is also available. Instead of receiving payment applications in a variety of different formats, Chalkstring provides a standardised application template for all subcontractors, which can be imported. Saving hours of manual work, once imported, Chalkstring automatically cross-checks the application values against the project progress to date and highlights if an application needs further investigation e.g. a subcontractor has claimed for more work than has been completed. Supply chain relationships are improved because the contractor can easily substantiate why they’re paying the subcontractor a certain value, as the applications are cross-referenced with real-time progress data.
Barry Chapman, Managing Director at Chalkstring said: “Our supply & fit functionality is a game changer for anyone subcontracting work. Chalkstring speeds up and automates financial project administration, while at all times providing transparent, accurate and real-time cost and revenue information.”