BAS Construction. Financial Management helps a construction company see its financial situation not at the end of the month, but during the work process: by sites, contracts, payments, expenses and future obligations.
The solution is needed where several construction projects are managed at the same time, payments are regularly approved, and advances, debts, overspending and risks of cash gaps arise.
The manager receives a clear financial picture: which sites require funds, where expenses exceed the plan, which payments are expected and which decisions should be made first.
When a construction company needs BAS Construction. Financial Management
Budgets are difficult to control
If a company manages several sites at the same time, management needs to quickly see where expenses are approaching the limit or have already exceeded the plan.
Payments are planned manually
Payments to contractors, suppliers and internal departments are difficult to control without a single calendar of upcoming payments.
There is a risk of cash gaps
When expected receipts, cash balances and upcoming payments are not combined into one picture, financial problems become visible too late.
Payments are approved chaotically
Payment requests come from different departments, but without a unified approval procedure it is difficult to control priority and justification of expenses.
Debts are scattered across different sources
Accounts receivable and payable by contracts, counterparties and sites should be visible to the finance department and management.
There is no quick financial picture
Management needs not separate spreadsheets, but a clear picture: budgets, payments, debts, cash balances and the financial condition of sites.Financial management in construction with BAS
In construction, financial control is more complex than in companies with short operating cycles. Sites may last for months, expenses accumulate gradually, and payments depend on contracts, certificates, material supplies and contractor work.
BAS Construction. Financial Management helps a company move from scattered spreadsheets and manual approvals to a unified financial control system. Data on budgets, payments, obligations and expenses becomes available for analysis in one environment.
This is especially important for contracting organizations that manage several construction sites, work with many counterparties and have a complex expense structure. The system helps see not only what has already happened after payment, but also future financial pressure.
A detailed list of capabilities is available on the BAS Construction. Financial Management features page, and license information can be viewed on the BAS Construction. Financial Management prices page.
What the business gets after implementation
- a clear picture of the financial condition of each construction site
- control of upcoming payments, expected receipts and cash balances
- fewer chaotic payments and unapproved expenses
- the ability to identify budget overruns faster
- debt control by contracts and counterparties
- a single database for the finance department, managers and responsible persons
How a company moves to controlled finances
Implementation begins with understanding the company’s financial model: which sites are managed, how payments are approved, who is responsible for budgets, where overspending occurs and which reports management needs.
Financial structure
Sites, business areas, responsible persons, departments and levels of financial data control are defined.Control rules
The company defines how payments should be approved, who checks expenses and what data is required before payment is made.Work with sites
Financial data is linked to construction sites, contracts, counterparties and cost items so that management can see the real picture.Management reports
The necessary views are created for management, the finance department and responsible persons: payments, debts, expenses, cash balances and deviations.Team training
Users learn to work with financial data, approvals, payments and reports in daily operations.Launch into operation
After configuration, the system is used for ongoing financial control, not only for reviewing data after the period has ended.Need financial control in construction?
We will show how BAS Construction. Financial Management can help control budgets, payments and financial risks in your company.
Result for a construction company
- management sees financial risks by site faster
- the finance department works with approved payment control rules
- project managers better understand available budgets and expenses
- the company depends less on manual spreadsheets and scattered files
- financial decisions are made based on up-to-date data