Planyard Review

Project Financial Monitoring

With Planyard, you’ll be able to track, manage, and control all your construction project financials in real-time. You can do this without navigating between multiple systems and spreadsheets, doing repetitive data entries, and making manual calculations and updates. You’ll access and verify information and details on the same screen, as Planyard links all your construction and financial data together.

For instance, the software connects your subcontractors’ submitted project progress reports, change orders, and invoices to the corresponding project budget and contracts. Through color-coded warnings, you’ll see when committed costs exceed the estimated, projected, or contracted costs. This lets you quickly identify and fix data entry errors, overbillings, or budget overruns.

Planyard, furthermore, allows you to keep track of your project expenses and profits at the line item level. Thus, you can compare the contracted costs or approved expenses for particular jobs and job phases/stages to your project budget. That way, you’ll determine whether those jobs are profitable or not. 

The software generates forecasts on project cost, profitability, and cash flow as users enter or update data on project financials. It permits you to check the total number of monthly approved sales and purchase invoices for specific projects.  You can take immediate action when the monthly approved expenses go over the project income.

Consistent Collaboration 

Planyard enables various project team members and stakeholders to consistently work and collaborate in one place, keeping everyone connected and compliant. Your site engineers, secretaries, or accountants can organize and submit invoices and receipts using Planyard’s mobile apps, Google Chrome extension, and Outlook add-on. 

You and other stakeholders then can review and approve the cost documents and even leave notes and comments if necessary. Once the cost documents are approved, the software automatically updates the project budget. This allows users to see how much of the budget should be spent and how much will be available.

The cost documents will also be immediately delivered to your accounting team for processing. Your accountants can access the original documents along with the line item details and other related information without doing manual data entry. Planyard makes the submission and approval of progress reports a breeze as well. Subcontractors can enter data into an online report template or form which they can access through a link an email. 

You will get email notifications after subcontractors submit their progress reports. Moreover, you can access all documents and data linked with the progress reports from a single dashboard. This includes project budget, contracts, previous progress reports, and invoices. 

Streamlined & Standardized Processes

The software helps general contractor companies implement streamlined and standardized processes for handling construction projects and financials. You’ll be able to create estimates using project templates and historical information. Planyard allows you to analyze and compare the estimates of previous and ongoing projects based on line item and unit. As a result, you’ll make accurate material and cost estimates. 

It makes it easy for you to handle contracts. You can link subcontractors’ progress reports or payment applications with contracts. Retainages will be withheld and pre-payments will be deducted from subcontractors’ progress payments automatically if they are set in the contracts.

You can simplify your purchasing process too. Planyard automatically inputs line item details from your budget into the purchase orders. You’ll send purchase orders in just a single click, monitor their progress, and match vendor invoices to purchase orders. You can turn winning bids into purchase orders instantly as well.