Next Level Cost Management Software & Enterprise Accounting
RIB BuildSmart
BuildSmart provides one source of truth for construction and engineering companies to enhance their cost advantage. Our powerful construction cost management software encompasses complete financial and commercial control from estimate to final account or project closures. Using top-tier data, C-suite and other stakeholders can access dashboards live-accrual cost allocations, preserve budget, and make informed financial decisions.
Why Choose RIB BuildSmart?
Features and Functionality
Procurement
Enterprise Accounting
A powerful feature-rich construction accounting software reporting all accrued and actual project cost, by ledger code and activity, to produce real-time cost management reports. This gives teams live site visibility. BuildSmart’s enterprise accounting incorporates multiple organizations, full or partial consolidations, multiple currencies, and multiple tax regions.
DOWNLOAD BROCHUREPayroll
A powerful, fully functional construction payroll software that is seamlessly integrated with contract cost reporting and enterprise accounting, providing insight into labour costs as soon as they are captured. This allows teams total flexibility and produces all statutory calculations and reports. *Regional Specific
DOWNLOAD BROCHUREInventory Management
Flexible inventory management, multiple site stores, material resource plans, scaffold and formwork management and recovery. BuildSmart provides visibility of the financial risk of inventory management in the complex environment of construction projects.
DOWNLOAD BROCHURESubcontractor Management
Effectively manage subcontractor reconciliations, inclusive of advance payments, work done, variation orders, materials on site, escalation, retentions and contra-charges. Accurate reporting and controls, including retention release dates, are just a few of the benefits of using subcontract management in BuildSmart.
DOWNLOAD BROCHUREPlant And Equipment Management
BuildSmart’s plant asset management system provides life-to-date visibility of the Plant fleet. Incorporating plant hire, servicing, utilisation tracking and fuel consumption monitoring; plant item profitability is tracked from purchase to disposal. BuildSmart makes construction plant management effective and productive.
DOWNLOAD BROCHURECost Control And Reporting
BuildSmart makes it possible to accurately and easily compare actual costs to project allowable/budgets in real-time, allowing for timely management interventions and leading to improved margins and a competitive advantage. BuildSmart’s real time cost reporting capability ensures that the true activity-based costs are readily available when required.
DOWNLOAD BROCHURESuitable for
C-level and Executive Management
BuildSmart’s software solutions enable teams to optimally deliver the built environment and enhance business outcomes. Business leaders can benefit from the product resulting in enhanced cost and schedule performance, accurate and appropriate information in real-time, proactive management of complex projects, increased productivity, and improved financial returns with lower volatility.
Plant and Equipment Manager
Tailor equipment management to meet the needs based on location, availability, utilization and costs. With each plant item being indiviually tracked and managed there is the ability to maximise utilisation, boost efficiencies and ROI.
Accounts Department
BuildSmart features are simple to use, with multi-user access and role based permissions in a single solution. The product’s multi-company, multi-currency features allow global compatibility. Accounting teams can get insights into real-time costing with live accrual allocation, inter-company transactions, reporting and consolidations.
Procurement Manager
Intimate budget visibility with a highly configarable approval workflow ensures the required stakeholders are accountable for all spend prior to commitment. Combined with the upstream controls of linking directly with contract resources, BuildSmart provides the ability to prevent overspend at quantity, rate and total level.
What Our Clients Say
Can you provide accurate answers to business-critical questions in real-time? RIB CanBuild can!
RIB’s complete cost and enterprise management solution, comprising of RIB Candy and RIB BuildSmart, enables you to manage the complete construction process & lifecycle, from quantity take-off and estimating to final accounts and reporting, in one seamless solution.
THE RESULTS
- Improved cost and schedule performance and certainty
- Increased productivity
- Growth of financial returns with lower volatility
- Proactive management of project risk
One powerful integrated solution purpose-built with your business in mind
LEARN HOW NOWPowered by RIB BuildSmart
RIB BuildSmart FAQ’s
Construction cost management software is a solution for effectively managing the financial aspects of construction projects. Throughout the project lifecycle, it aids in making budgeting, construction cost estimation, expense tracking, and financial reporting more efficient.
By centralizing all cost management processes in the cloud and within the framework of the construction project, you can enhance cost control, obtain real-time visibility of risks related to costs, and make accurate cost forecasts.
Using cost management software for construction can significantly streamline processes, greatly enhance accuracy, and provide real-time data. With such software, project managers can keep close tabs on expenses, compare actual costs to budgets in real-time, and more accurately predict future spending. Integrated cost management features give the project manager a holistic view of the project’s financial health, as these platforms often include functions around budgeting, expense tracking, and financial reporting, all in one place.
For a construction project, ineffective construction cost management can have serious and far-reaching effects. Budget overruns are frequently the consequence of poor cost management, which can lead to cash flow issues that endanger the project’s progress and exacerbate relations with stakeholders and investors. Inaccurate financial reporting is another important element that makes it difficult to track project development and make wise judgments. This absence of financial supervision may result in noncompliance and perhaps legal action. More significantly, ineffective construction cost control can harm a company’s reputation, making it less competitive and less able to win new business.
By using the appropriate construction project cost management software, these difficulties can be avoided because of the powerful features that improve project management in general.
Effective cost management greatly improves project management in construction by making sure that financial resources are distributed and used as efficiently as possible. As a result, projects are successfully finished on time and within budget. By precisely monitoring and regulating costs, project managers may prevent cost overruns and spot possible financial problems early on, and take prompt corrective action. By offering real-time data and insights, this financial discipline improves decision-making processes and makes proactive planning and resource allocation easier.
Effective cost control also promotes increased transparency and communication among stakeholders since accurate and transparent financial reporting raises expectations and establishes confidence. In the end, this results in more efficient operations, stronger finances, and more profitability, all of which raise the general efficacy and success of project management activities.
As construction cost tracking software, RIB BuildSmart excels in incorporating cutting-edge 5D BIM technology, which includes time and cost dimensions in addition to conventional 3D modeling. It also guarantees accurate scheduling and cost estimation. The software’s end-to-end project management features streamline all project-related procedures, from preconstruction planning and budgeting to execution and post-project analysis. Tools for real-time data analytics and reporting offer critical insights that support proactive management and well-informed decision-making. The cloud-based platform from RIB BuildSmart guarantees accessibility and teamwork, facilitating easy communication between project participants. Building professionals looking to optimize their operations will find RIB BuildSmart to be the best option because of its strong cost management, budgeting features, and customer support. It furthermore improves project accuracy and efficiency and scales easily with expanding business needs.
Implementing new construction management software into an organization requires training, communication, buy-in from stakeholders, and the trust that the change will improve people’s lives. Due to the ”best of breed” nature of RIB BuildSmart, we employ an aggressive implementation program, which greatly reduces time and cost and ensures your teams can reap the benefits of our solutions as quickly as possible.
The determination of total project cost entails the detailed tracking of all cost elements, as the percentage complete figure that will be determined relies on the accurate recording of these values. A number of cost elements (plant and equipment, workshops, internal repairs…) are internal costs and although they do not affect the Net Profit figure, have a substantial impact on the cost to date and therefore the Profit/Loss. The accounting system must account for these internal costs and provide operational and management accounting figures to the Plant Manager and Workshop Manager.
Procurement in construction must be based on the determination of the quantity and cost of the individual resources used in the determination of the net cost of each work item in the Bills of Quantity. Procurement of resources is constantly being modeled over the project’s life and is constantly under review due to the provisional nature of the quantities of work performed. As the quantities change, so will the allocation of resource usage and cost on the project. The procurement of goods and services must be measured against the items procured in quantity and monetary value. Both quantity and value of importance here as the budget is dependent on both these indicators.
Our construction cost control software is highly scalable, catering to large corporations with multiple disciplines, mining houses, as well as smaller construction businesses and home builders.
BuildSmart operates on a concurrent license model with any number of named users but allows a fixed number of users access to the system at a given time. Concurrent user licensing allows the purchase of software at a lower cost because the maximum number of concurrent users expected to use the system at any given time (those users all logged in together) is only a portion of the total number of users expected to use the system across the company. The concurrent licenses are global and shared by anyone who has access rights to use the system. This contrasts with “named-users” licensing, in which one license must be purchased for each and every individual user, whether they are using the system or not.
We are with you at every step
Our goal is to improve your efficiency and productivity through a range of services, such as implementation, system navigation, and optimizing upgrades. We understand the challenges of meeting deadlines and the need for timely assistance. Our experienced staff, who are seasoned industry-experts, take pride in offering prompt and effective support – just ask our hundreds of thousands of satisfied users!