InEight Inc., a global leader in construction capital project management software, has announced its latest suite of software innovations, which are designed to increase forecasting accuracy, field productivity, and subcontractor management.
These latest updates provide contractors with a higher level of forecasting accuracy based on up-to-date project progress, including subcontractor activity. This allows for quick reactions to financial and productivity challenges, providing greater confidence to project owners.
Uncertain economic conditions and disruptions in the construction supply chain are putting increased pressure on contractors and owner/operators to produce accurate project forecasts. InEight is building on its already strong legacy in cost forecasting with significant new capabilities in the areas of time-phased forecasting, custom forecasting methods, and resource-based forecasts.
In addition to out-of-the-box forecast methods, InEight users can now configure the best equations to automate forecast calculations for the different types of work through different stages of completion. “There is no one-size-fits-all approach when it comes to forecasting, even within a single project,” says John Upton, Director Project Cost Management at InEight. “InEight helps contractors and owners better capture field data and measure progress,”
The platform enhancements also drive increased productivity through more efficient collaboration between the office and the field. Scope and quantities, productivity goals, and more are easily communicated in daily digital plans to field crews and subcontractors. Controlled transparency allows teams to identify and troubleshoot challenges. This leads to a higher level of profitability potential.
Additionally, InEight made it easier to get full visibility into subcontractor costs. With line of sight to both committed and uncommitted costs, users can compare the variance between the planned cost and the actual costs.
“Our goal is to connect scope, cost, and schedule on a single platform, giving project stakeholders the ability to collaborate effectively and deliver projects with predictable results,” comments Brad Barth, Chief Product Officer at InEight.