Media Spotlight

The MEP sector should adopt software to manage cash flow, says expert

The MEP sector faces some of the greatest challenges when it comes to cash flow management, says Andrew Skudder, CEO, CCS. "In fact, the problem has been so entrenched in the system that it has, in a way, become the “new normal” for the MEP contracting sector.
When I ask MEP industry leaders about the challenges facing the sector, none of them reveal cash flow as major concern. “That’s a given,” they say, and move on to listing other obstacles.
MEP is a heavily cash-driven business, where mitigating and managing cash flow risks are essential.  And this is where CCS steps in.
Candy provides the industry’s most effective link between Budgeted Cost and Time (using interactive Estimating & Planning), where Candy produces a detailed Cost, Activity and Time project model. The cost and time savings are a direct result of what we call “Upfront control of costs”, i.e., control the costs before you commit any expenditure.  Because this Candy model is built up from the most basic resources, individual resources budgets can be sent directly to BuildSmart to allow resource procurement with complete accuracy and effective control of both quantities and buying rates providing an UPSTREAM control on the spend. Unless the control is in place at the procurement stage, the margin cannot be protected and this is where costs are controlled and money is saved.
BuildSmart will then manage the complete Procure to Pay cycle and report ALL project costs in the same Cost and Activity matrix used in Candy to allow a one to one match between budget and actual for all resources.
Used together, BuildSmart cost management and Candy estimating and project control uniquely tie the financial processes to the physical processes of your construction projects. This means that an accurate and real time appraisal is presented of each construction project of your enterprise."

Read more on line:
https://www.mepmiddleeast.com/people/71018-the-mep-sector-should-adopt-software-to-manage-cash-flow-says-expert