Continuous reconciliation

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Procim provides an in-built reconciliation process giving project owners the ability to reconcile as projects progress through their life cycle.

 

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Informed decision-making

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Procim helps ensure that informed decisions are made regarding under or over spending, and makes it easy to decide if, and on what basis, costs should be absorbed or passed onto the clients. The original agreed costs, subsequent approved additions and actual costs are all viewed side by side.

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Procim includes a comprehensive suite of reports to assist with the reconciliation process including:

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• revenue vs cost report

• detailed project reconciliation report

• cost analysis

• billing and cost details

• time analysis reports

 

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Pass on additional costs when appropriate

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In addition, an automated process can be adopted as part of the final reconciliation to update estimate  at completion costs based on actuals. It is then easy to establish which costs should be absorbed or passed on to the client with an appropriate markup within a final project change notice (PCN) or as a revised client estimate that incorporates all change (orders) notices raised.