News Description
Xpedeon article published in Building for Education magazinePosted Date: 02 Oct 2013

Xpedeon article in B4E

The article, written by Simon Eyre, Managing Director at Xpedeon, was published in the latest issue of Building For Education magazine this month. Simon discusses the impact the latest technology can have on budgeting in the education construction industry.

Simon said, "Many companies still run disparate databases that operate outside main systems and make it difficult to keep track of sub-contracting costs."  

"With an ever growing volume of restrictive regulation on workforce management, health and safety, waste management and environmental control, construction companies need to have a holistic view of the performance of every area of the business to create one version of the truth."

Eyre continued, "Commitment recognition helps close the gap between 'budget' and 'actual’. Despite their best efforts to control costs, companies are prone to budget overruns owing to time lag between when a financial commitment is made and when cost is accrued. Typical commitments include purchase orders, subcontract work orders, monthly wages, and so on."

"Budgets and Cost & Value Reconciliation (CVR) software help contractors to control and monitor costs. It ensures that contract profits shown in company accounts are accurate and are supported with complete details of all transactions and reconciliations."

To read the article in full, see page 39 of B4E's digital edition