01 November 2022 4 min read

Budgeting Under Control with Archdesk

Manage Your Costs Effectively

 

See how Archdesks supports your company financials to bring your budget under control.

See Budgeting in Archdesk

We often lose control of the budget during the project execution phase.

This can be due to a massive number of unregisterable purchase orders or the pains of managing several projects at the same time.

Take a look at Archdesk’s budgeting software. It helps keep your budget under control, once and for all.

How Does It Work?

The budget can be split into the main deliverables and then into smaller cost subsections. The division depends entirely on a company’s needs and can differ between projects.

This division gives better control over spending as it allows for monitoring each cost's origin and its impact on the overall budget.

The Bill of Quantities, also called BOM, can be developed based on the budget’s overall structure to allow for comparisons between the original project budget, approved contracts and completed contracts.

The tender based on the BOQ helps maintain control of the budget as well.

Check these reviews: Find the best budget software and tools on the construction market (2022).

A very handy feature is that whenever you add a new quote to the system and have it go through all the approval stages, you can do the budget recalculation with only one click.

There is no need to add the same numbers twice or calculate on your own. The system will do it for you!

You can also see how our project is performing on the project financial dashboard.

The information provided there is shown in easy-to-understand charts and tables. This is convenient as you often do not have time to dig into details every day.

The graphs show us the key financial aspects of our project: the budget, project value, project cost, gross profit, and main categories with summarised costs.

If your project ever starts to perform poorly, the software will show it in a visible and clear way.

Thanks to this, you can react faster than ever before to any changes or risks to the project.

The financial dashboard above shows us the condition of a specific project.

Sometimes, a company runs several investments at the same time. In the system, besides budgets for separate projects, we can also have a dashboard with an overall view of the project's financial status.

Thanks to this, you can be up to date with the financial state of the whole company.

Related Content: A quick and comprehensive guide on construction budgeting/a>

What Are The Benefits?

  • Control over your financial situation

This means control over each project, but also the whole company's financials.

Our budgeting solution provides detailed information that helps monitor a project's execution and is an excellent source of what worked well or what should be avoided in future investments.

  • Saved time

You do not have to create tons of spreadsheets that need to be updated every day. Whenever you need detailed info, you can go to your budget in the software and update it with just one click.

The budget is shown in real-time, and everyone who has access can see it.

  • Faster reactions to change

The detailed info that is always up to date means you can react faster whenever any risk occurs in the project. This is crucial, as no project is risk-free.

Thanks to budgeting, you will always know how much extra money is available or what parts of the projects are closest to their limits, helping you to keep an eye on them.

Related Content: Get help on solving your cashflow challenges.

Who Benefits Most From Archdesk Budgeting?

Budgeting in Archdesk is perfect for any company that needs to work and fit into a fixed budget. But, it's more than that.

Our budgeting module will be useful for any company that manages projects and wants to keep its financials under control. After all, every company wants to spend money cautiously and strive for maximum profits.

As you can see, taking care of your finances does not have to mean endless amounts of excel sheets and time-consuming calculations.

In order to do it faster and easier, why not check out Archdesk budgeting?

See Budgeting in Archdesk

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2022-12-05 14:46:55