Miscommunication can lead to financial loss. Before contractors integrated CRM, project information was often spread out across emails, phone calls, and various software systems. This made it beyond difficult to ensure that everyone had access to the same information.
Still today, mega brands offering ERP solutions are missing the nuances of the manufacturing, contractor, and facility maintenance spaces due to our complex labor and inventory needs. Healthcare organizations have always used very specific information management systems that can’t be applied in other industries. A food supply chain or lumber distributor would never use a hospital data management system to operate their business. However, with as much networking as the construction industry does, we have encountered several representatives with a software solution that they swear works better than any other, and that’s probably true – for their industry.
Bidtracer was made for construction. If time is money, then saving time should be a top priority in Q4 when looking ahead at 2025. Speaking of money…invite your controller to a Bidtracer demo. While your sales team and estimators will love the time saved in every feature, your controller will be able to see the real savings.
Using a CRM made for the construction industry creates a central hub where all team members – from field technicians to accountants – can access the same data. This transparency reduces the likelihood of misunderstandings that lead to costly delays or errors in invoicing, budgeting, or payroll.
For example, if a project manager needs to modify a budget or request additional resources, a controller can immediately see how that affects the overall financial health of the project. This collaboration allows for quick decision-making and eliminates the “guesswork” that often plagues construction accounting.
When a contract is signed, Bidtracer can automatically trigger the creation of a project, sync with your accounting system, and begin tracking costs, revenues, and change orders. This has reduced the possibility of not just errors but delays, which in turn minimizes costly financial mistakes.
One of the most challenging aspects of construction accounting is keeping track of where every dollar goes, especially when dealing with multiple projects at once. Bidtracer provides real-time visibility into project financials, which means facility owners and your finance team can see up-to-date information on budgets, expenses, and billing at any given time.
Change orders can be viewed from all team members in real time. This has revolutionized how contractors manage cash flow. By having access to real-time data, leaders can make more informed decisions, spot potential cost overruns early, and communicate more effectively with project managers to ensure budgets stay on track. No more waiting for monthly reports – everything is accessible on any mobile device.
Billing in construction is often complex, involving multiple stakeholders, retention payments, and phased invoicing. Bidtracer helps automate these processes, ensuring that invoices are sent on time and payments are tracked effectively. The software allows for customization of invoicing schedules, automated follow-ups for late payments, and real-time tracking of accounts receivable.
This has not only saved contractors time but has also improved cash flow. Users report fewer late payments and better management of payment schedules with subcontractors, creating enduring relationships and smooth operations on all fronts.
While the primary focus of construction accounting is on internal operations, it’s also important to remember that client relationships are key to business growth. Bidtracer stores client preferences, communication history, and previous project details. This not only makes invoicing and billing faster, but also builds client relationships when they consistently receive accurate, detailed updates that move every project along without delay.
Even if you outsource accounting, these external roles can still have direct access to your Bidtracer software at no additional cost, becoming instantly integrated into the daily operations of your business. Contractors don’t have to have a controller to know that tracking every detail of your projects makes serious financial sense. Get a CRM that does estimating and engineering as well as budget tracking, SOVs and progress billing – schedule a Bidtracer demo.
