Fizure

Hi everyone, Construction is one of the biggest industries of any country. It's also the least digitized. Partly because some of the stuff is hard to digitize (a bricklayer still needs to lay bricks). But there are definitely workflows that can and should be digitized. Job costing & budget management is one such flow. It's crazy how it's done in most companies - still with Excel and email (and quite often with physical folders and printed paper). It might make sense for super small projects but when you're building apartments, for example, you might have 500-1000 different line-items in the budget. For most of the line items there are subcontractors, contracts, progress reports, and invoices connected to them. The same data is manually entered to different places and calculated several times for the budget. Bids and progress reports are collected manually as well which makes them hard to compare. The inbox, thus, becomes a mess. And the whole thing becomes prone to errors. Plus it's just annoying and takes a lot of time. And after all that work there is still no real-time overview - the company becomes aware of costs only once the actual invoices get processed. They'll only know whether the project was profitable or not once the project is finished. At best. But where did the profit or loss come from? No idea. So, we have digitized the whole flow from sending out bid requests to contract performance management to collecting invoices (and integrating with accounting software). To my knowledge Fizure is the only tool to be hunted in our category in the past 5 years in PH. The main functionality: - track project costs and forecasts in real time - collect bids, progress reports (claims, commitments), change orders, and invoices from subcontractors - follow contract and subcontractor performance - reuse historical data for estimating and choosing subcontractors - send pre-approved costs automatically to accounting software We've seen some project managers save up to 5 days a month with Fizure. That's 25% of their time. The accountants have saved up to 50%. When I first saw the numbers, I couldn't believe them. But it's true :) There are a lot of gains to be made in an industry that has stayed largely stagnant for the past decades in terms of productivity.