Why traditional Cost Value reconciliations are old fashioned

This blog explores how construction contractors can use software for real-time management data, rendering the traditional monthly Cost Value Reconciliation null and void.

Do you know exactly how each project is performing at any given time? Does your team spend hours compiling CVRs? Can you confidently forecast revenue, costs and margin during construction and make informed decisions?

If you’re like many contractors, you’ll only know whether a project has delivered the target profit levels once the project is complete. With Chalkstring, this is a thing of the past. Chalkstring gives you real-time
visibility of your cost-to-complete, including liabilities that you’re committed to that haven’t hit your accounts team yet.

Detailed reporting enables you to monitor the costs you’re going to incur, expected revenue and forecasted margin. And you can easily track the real-life projections against your original tender expectations. Plus, there’s no need to spend hours manually compiling traditional Cost Value Reconciliations for your monthly reports. Using Chalkstring you can report on your projects instantly using real-time information, giving you accurate and reliable financial information on which to base decisions.

Learn more about Chalkstring’s real-time job cost reports.