Hello, Plexa Community! As your dedicated product manager, I’m excited to share some impactful updates we’ve made to enhance your finance management experience. In the world of construction, balancing commitments, claims, and budgets can feel like a high-wire act. But fear not—we’re here to streamline the process, empowering you to focus on what you do best: delivering exceptional projects. Let’s dive into the latest features that are designed to elevate your finance management game!
We’ve reimagined how you view financial commitments by merging Supplier Purchase Orders (PO) and Subcontracts into a consolidated “Commitments” section. This feature allows you to see all your financial obligations in one place, significantly reducing the time spent searching for information.
Head Contract Claims are critical to the financial health of any construction project. Our latest update allows you to save claims as drafts and assign them to specific workflows for approval. This feature streamlines the claims process, ensuring that all stakeholders are on the same page.
The updated Head Contract Variation feature is designed to integrate seamlessly with your budgeting module. This ensures that your budget and contract variations are always aligned, providing a holistic view of your financial landscape. Additionally, we now support the entry of negative numbers, enabling you to issue credits back to clients with ease.
Recognizing the importance of efficient supplier management, we’ve enhanced our company database to hold comprehensive supplier information. You can now upload your entire supplier list using an Excel template, making data entry a breeze.
We understand that construction projects are unique, and our new feature allows you to claim a percentage of your head contract in addition to lump sum claims. This flexibility means you can tailor your claims to meet the specific needs of each project, improving accuracy in invoicing and financial tracking.
Our updated AP module now gives you the option to designate figures as either Tax Exclusive or Inclusive, bringing much-needed clarity to financial reporting. With our Payment Limits Auto Workflows, you can set thresholds that automatically trigger approval workflows, further streamlining your financial management processes.
Our Finance Roll-Up feature provides a bird’s-eye view of your entire financial position. By consolidating data from all projects, it enables you to track values, expenditures, variations, and unapproved claims—all in one place. This comprehensive oversight is crucial for informed decision-making.
Exciting features are on the way! We’re working on a Direct Cost Module to track direct and indirect costs not associated with suppliers or subcontracts, as well as Automated Budget Transfers to facilitate seamless financial movements within your organization.
At Plexa, we are committed to providing tools that empower contractors, administrators, directors, and project managers to thrive in the construction lifecycle. These updates not only address your pain points but also enable you to manage finances with confidence and clarity.
Thank you for being part of the Plexa community. We can’t wait for you to experience these enhancements. Together, let’s build a brighter future in construction! 🚀
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