IFCA Construction and Project Cost Management system includes comprehensive suites of modules which covers Contract Management, Project Profiling, Project Planning, Quality Management, Tendering, Sub-Contractor Management, Resource Management, industry specific Accounts Receivable, Project Accounting with reporting KPIs and Business Intelligence.

Effective cost management requires timely measurement of actual cost against budgeted cost. IFCA SoftwareTM allows users to follow each project from infancy right through completion, building up a detailed view of costs, revenues and committed cost for each project.

It facilitates monitoring of project budgets, supports multiple versions of budgets, selection and awarding of contracts, manages sub-contractors' performance, construction schedules, project cash-flow and quality control. Embracing IFCA SoftwareTM Construction And Project Cost Management solution enables the start of a successful journey towards a well managed project cost management

Depository of contract master information such as client profile, start & completion date, original contract sum, project quantities, retention rates and other important contract information.

Manage progress claims based on percentage of completion as well as claiming for day works and materials-on-site.

Track contract Variation Orders from the submission stage till approval for any addition or omission to the initial contract specifications. Once approved, a revised contract sum is automatically generated. A history of contract revision is kept for comparison purposes.

Retention amounts are automatically computed based on contract specification and kept in a Balance Sheet account. It allows for full or partial retention release. Once approved for release it will then be reflected in Accounts Payable module for payment.

Manage sub-contract tenders from initial preparation of tenders, sub-contractor registrations, evaluations, comparisons and awarding of tenders. All these can also be supported from the Contractors’ eCommence portal. It also tracks sub-contractors progress claims, variation orders, retentions as well as “on-behalf” purchases.

Maintain centralized sub-contractor profile containing history of project team, successful projects undertaken as well as performance defects and failures. This will help in future contract awards and appointments.

This module is designed to manage contract-based activities in a given time frame and cost. It supports multiple versions of budgets, tracks actual usage and reports on the budgeted, actual, committed, and forecasted cost. Keeps historical contract information, contract sum, revisions, actual cost and document all correspondences within the system. Project schedule or work plan can easily be defined. Based on the work schedule defined, activity based budgets are generated automatically based on the contract specifications. Provide timely tools to eliminate potential cost overrun by tracking committed cost of contracts awarded to sub-contractors and purchase order issued to reflect the actual balance to spend. Claims made by the sub-contractors are tracked from their submission to the approval process and automatically computed based on contract submissions. It keeps tracks of retentions and contract deposit. Variation Orders once approved will automatically revise the main contract sum with a history log to keep track of the previous versions.

You need to enable contract and project managers to view resources, budgets, revisions, costs and performance details with individuals’ ownership of their tasks and providing executives with an enterprise-wide view of their project profile. Improvement in profit margin is inevitable in an organization with an effective monitoring system.

Proper planning of resources and materials is crucial to any project. This module has the capability to calculate overall progressive project completion and highlighting projects ahead of schedule or identifying the tasks affecting any delay or slippages. Functionality designed to counter-check the project schedule against the resources available becomes a success factor for any project managers.

Quality assurance for work delivered needs to be monitored carefully & timely in a competitive market. Tracking of all complaints, default tracking through the rectification process is done via the system. The objective is to ensure quality in delivery and any defects are been properly monitored and resolved. The system keeps historical data for assessment of the performance of each contractor.

All projects will go through a tendering process before it gets awarded to the chosen contractor. Tracking of the tender items will provide a competitive tender report for submission. Once the tender is awarded, each item within the tender will be converted automatically into a contract without any further human intervention.

All jobs or contracts awarded to contractors are managed and monitored in this module. It tracks and monitors from commencement through the different stages of the contract, claim submissions, approval, disbursement of claims to contact sign-off and a history of the sub-contractors performance and profile. It automatically calculates retentions and support contract deposits and advances. It will also track Material-On-Site (MOS) and any returns.

This module is designed to help in proper resource planning (materials, plant & machinery and labor) and monitor the usage against budgets and work-plans. Measuring the actual usage against the work-plan and budgets will provide a proper tool to manage the project progress and resource usage to minimize any potential cost overrun due to price fluctuation or project slippages. Other than resource usage, this module also supports material transfer and wastages on site. It will also monitor balance of materials on-hand by project. Any adjustments to the resources will be tracked and monitored closely within this module.

This industry-specific Accounts Receivable modules monitors in detail all the transactions such as schedule billings, three way allocation (receipts to invoices to user definable priorities), partial payments, late payments and also interest generation.

This is a comprehensive Project Cost Accounting and Profitability Analysis solution. It is designed specifically for companies engaged in managing their businesses by individual contract basis and requires tools to help to manage and report their contracts by individual project profit & loss. It tracks all project revenue and cost in detail, including committed cost on a cumulative real-time basis as well as the financial progress of each project over the life of the project and segmented into its respective reporting periods. In a typical project management environment, both direct & indirect costs and revenue need to be allocated to each project. These will be sub-divided into a Work Breakdown Structure (WBS) and grouped into project hierarchies for accounting and reporting purposes, making reporting at any levels possible and allowing comparison of historical data as well as current budgets. Profit recognition by project is automatically calculated. Project Accounting (incorporating job cost accounting) is the ideal solution for any contract or project based companies looking to manage individual project profitability and cash-flow.