From CVR reporting to monthly management accounts, WIP visibility and forward-looking cashflow forecasting.
For construction businesses, understanding how individual projects are performing is only part of the picture. Directors also need to understand how project performance translates into overall profitability, work in progress and the cash available to run the business.
Project cost reports, CVR information and accounting records can each provide valuable insights, but without bringing them together, it can be difficult to see the full financial picture.
The challenge was to consolidate this information into a consistent monthly reporting process that gave management a clearer view of both current performance and future cash requirements.
At Profectus, we brought the different strands of financial reporting together to create a more joined-up view of the business.
We brought together the information needed to understand project performance alongside the accounting records, creating a more consistent foundation for monthly reporting.
Cost Value Reconciliation reporting helped bring contract values, costs incurred, costs to complete and anticipated final outcomes into focus. This supported a clearer understanding of project performance, potential cost pressures and expected profitability.
We incorporated WIP reporting to help management understand the position of live contracts and how project activity was reflected in the financial results.
The consolidated information fed into monthly management accounts, connecting individual project performance with the wider financial position of the business.
By linking the reporting process to cashflow forecasting, we helped turn historical results and current project information into a more forward-looking view of expected receipts, payments and funding requirements.
The value was not simply in producing more reports. It was in connecting the information so that it could be used together.
The business gained a more joined-up reporting process, helping management to:
More than your accountant. Part of your team.
At Profectus, we believe financial information should do more than explain what has already happened. It should help business owners understand where they are today, what lies ahead and what decisions they may need to make.
By connecting project reporting, management accounts and cashflow forecasting, we help turn financial data into practical insight - giving management greater clarity, confidence and control.
Talk to Profectus about management accounts, project reporting and fractional Finance Director support.
