A new way to work: Increasing transparency on cost plus construction projects

You’re a home builder. You face a range of challenges every day.

You’ve got project management complexities, budgets to maintain and client expectations to uphold. And, on top of that, you’re tracking your cashflow and business financials hoping you walk away with a profit.

If you’re still operating on manual processes and leaving your bottom line up to fate, it’s time to re-evaluate. There’s a new way to work – the Buildertrend way.

Recent updates to our software make it easier to manage markup and margin and customize options on homeowner invoices. We also introduced the new Job Costing Budget that’ll help with managing project profitability and increase transparency on open book jobs.

To put it simply – you can forget about the workarounds.

Now, no matter how you build, you can build with Buildertrend. Here’s how this cost plus home builder alleviated his pain points with the help of construction management software and solid financial features.

Meet Adam Copenhaver, co-owner of CopeGrand Homes in Charleston, South Carolina

What were the pain points you experienced before you found Buildertrend?

Before Buildertrend, we often faced challenges with manual processes that were not only time-consuming but also prone to human errors or corrupted files. Tasks like scheduling, client communication and tracking project budgets required multiple tools, which lead to inefficiencies.

We used yellow pads, Excel and takeoff software – hoping at some point we’d develop our own unique process where they’d all work the way we wanted. Eventually, we realized that was pointless, and we needed a single-source software to handle all our planning and communication.

I know that feeling is going to resonate in one of two ways with the readers. Either they know exactly how that feels right now, or they remember how that felt before they had a Buildertrend process in place.

I’m here to tell builders who aren’t using software that they don’t have to have to deal with those pain points anymore.

How has Buldertrend improved your business?

We’ve been Buildertrend users for about eight years. We interviewed each of the top software companies, participated in multiple demos, and we decided on Buildertrend. We made a commitment to invest in the software and get the most out of the resources offered.

But what we didn’t realize or expect at that time was just how much Buildtrend was going to make us better at running our business. From communication with clients and trade partners, to budget management and profitability, all of that lead to increasing the value of our service, which lead to the superior reputation of our brand.

Using Buildertrend the way it was designed to be used will streamline business operations through automation of workflows, centralized information and enhanced communication. There’s no doubt these features led us to reduced manual errors, better project tracking and overall, increased efficiency.

We’re able to accurately track our schedules and effectively create estimates and budgets. We have 100% accurate, predictable and enjoyable job costing conversations with our clients.

Talk about taking stress away – phew. That was a huge burden lifted.

Tell us about your favorite Buildertrend features

This answer would be different depending on who you asked on our team, but my favorite features are the Estimate and Budget features.

What good comes from a project not being profitable? Absolutely nothing.

Everything suffers. Your team, your clients, the business, the debt collectors, everyone’s emotions (and their family’s emotions), bank accounts, quality, the schedule, future relationships – I could go on and on.

We use an extremely accurate estimate to establish our budget, and we track our costs to our budget with an automated system every day. And then we communicate to maintain profitability.

We ensure 100% transparency in our processes and financials, making our clients feel secure as well. Losing financial credibility with homeowners is what a builder’s nightmares are made of. It’s a slippery slope that can lead to a lot of wasted time and unnecessary liability.

Using the Estimate and Budget features in Buildertrend, tracking numbers regularly and communicating the results to your team and clients are the first steps toward ensuring a successful project.  

You’re a builder who uses cost plus contracts. How has Buildertrend helped with efficiency and accuracy?

Buildertrend’s recent updates have provided even more real-time tracking and reporting of performance in our cost plus contracts. In our company, we have developed a saying that enlightens a lot of traditional communication problems in cost plus contracts, which is “Solve for the cost to complete.”

With the updates (which, by the way, thank you), we don’t have to run calculations outside of Buildertrend anymore – we’re constantly updating numbers almost automatically. So automatically, in fact, that we’re always able to answer the most important and most-asked client question, which is “What’s our cost to complete?”

Have you noticed more efficiency in project documentation and billing accuracy?

Buildertrend continues to listen to their users and make communication more efficient.

In the case of cost plus projects, having information available to our clients makes it much easier for them to interpret and understand. The Customer Portal has gotten much better. Previously there was limited availability or direct transparency to invoices, but now that’s all at their fingertips.

Better communication to clients means less questions to respond to and more time gained to spend on the special details of their project. Plus, because they have fewer questions on their invoices, they’re able to make payments on time or even quicker.

Looking for a new, better way to manage your construction projects?

Look no further.

Construction project management software has emerged as a transformative tool for home builders like you, offering solutions to a range of challenges. Buildertrend, with its robust project management and financial features, enables you to streamline operations, enhance communication and ultimately, increase profitability.

Whether you’re using cost plus or fixed price contracts, you can benefit from the efficiency and transparency afforded by construction tech. Embracing software will allow you to navigate the complications of the industry with confidence, delivering quality projects on time and within budget, while fostering trust and satisfaction among clients.

Schedule a demo today to learn more about Buildertrend’s project management and financial features.

The new way to work is just a click away.