Buildertrend introduces real-time Work in Progress reporting feature
Lightning-fast reporting helps construction professionals easily manage and measure cash flow
Omaha, Neb. (June 3, 2020) – Buildertrend, the No. 1 construction project management system, launched a powerful new reporting feature in its software. This new capability, called Work in Progress reporting, empowers Buildertrend customers to be more business savvy by delivering the financial intelligence they need for quick decision making. WIP reporting grows Buildertrend’s already comprehensive package of tools that propel construction professionals to keep jobs on budget and their businesses more profitable.
Traditionally, builders, remodelers and contractors manually gather and interpret complicated data sets to understand the financial status of jobs. Buildertrend’s new groundbreaking reporting puts this practice to rest, instantly creating comprehensive WIP reports that give contractors the data intelligence they need to understand total billings, profit margins, percent to complete, cost to complete and running total on individual jobs or across all jobs.
“This is the only near real-time WIP reporting functionality that puts financial insights into the hands of an industry that has endured years of tedious and manual processes just to understand the health of a project,” said Scott Vonderharr, Buildertrend’s director of product strategy.
The WIP reporting update is packaged into a simple visualization to clearly represent the data and enable quick interpretation, providing close to real-time business intelligence for Buildertrend users. Now users know at a glance where they stand financially on each project to take immediate action.
“Using Excel to build WIP reports is time-consuming and leads to double-entry of data already in Buildertrend. This provides a real solution that saves time, reduces guesswork and increases productivity,” said Chris Anderson, founder of Monthend, an accounting consulting company and Buildertrend affiliate.
Since 2006, more than 1 million users across the globe have chosen Buildertrend as their preferred platform for collaboration at every stage of the building process – including financial management. The WIP reporting feature levels up the already powerful financial tooling within Buildertrend’s software.
Reports can be filtered, sorted and exported outside of Buildertrend to help users easily and quickly find and understand the data they need.
Additionally, the WIP reporting feature works with two other Buildertrend business intelligence tools: Change Order Margin, which reports profit on change orders, and Aging Invoice, a functionality that surfaces the oldest outstanding invoices in the system. These three features function together as a powerful group, and impact the way construction professionals bill customers, pay trade partners and achieve desired profit margins for every project.
“For our customers, cash flow is king, and managing it correctly is the key to success for their projects and the viability of their companies,” Vonderharr said. “With this new construction business intelligence tool, Buildertrend helps the industry make financial decisions faster using data they can trust.”
Buildertrend is the No. 1 cloud-based project management software tool used by homebuilders, remodelers and specialty contractors. Since 2006, more than 1 million users across more than 100 countries have chosen Buildertrend as their preferred platform for real-time collaboration throughout each stage of the construction process. To learn more about Buildertrend, visit buildertrend.com and @buildertrend.
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