Spec Finish

Feature www.thefis.org 21 Project costmanagement softwarewritten specifically for fit-out contractors and specialist contractors Sarah Crawford , Director at Chalkstring, discusses their project cost management software written specifically for fit-out contractors and specialist contractors working in the interior finishes sector. Sarah said: “It’s an all-in-one, cloud-based platform for managing project financials from start to finish. The complexity of construction schemes means that without solutions like our software, projects are generally run using a disorganised array of software packages and Excel spreadsheets. Consequently, specialist contractors typically battle with manual and inefficient processes, chaotic paper trails, complex spreadsheet formulae and disjointed cross-departmental systems when running their contracts”. She explained that this can create enormous financial risk.This risk could includemany things, such as risk of overpaying suppliers and subcontractors, risk ofmissing variations in applications, risk of not having earlywarning of problems and lotsmore.We regularly hear painful stories about contractorswasting profit; whether it be a spreadsheet formula error wiping £30k off the project’s bottom line or a £60,000 highly bespoke item inadvertently ordered twice because of different spreadsheets that didn’t talk to each other. Then throw in continual change, material price increases and other variations, and the problem is amplified further. Predictability becomes a huge challenge, and most contractors simply can’t see whether they’re going to achieve their budgeted margin, where they are losing money, or an accurate cost-to-complete. She said: “This is where the integrated cost management software comes in. It joins up the entire financial management of a project from start to end, covering estimating, procurement, variations and labour payments, through to valuations, real-time reporting and final account. And by virtue of all project data being held in one place, critical high-level information is instantly available to those who need it in real time”. Sarah concluded by saying: “In today’s particularly fragile economic climate, the software enables specialist contractors to run project financials with confidence and certainty”. www.chalkstring.com Away to increaseproductivitywith corresponding cost reductions and accelerated schedules EdBurns , Chief Commercial Officer at Mafic, explains their platformFAIRPAYcan automatically recognise and reward high performerswhichwill boostmotivation, engagement and improve staff retention. Ed said: “The platformreduces labour costs by paying peoplemoremoney!While thismight soundwrong, it reallyworks because of the big difference thatmotivationmakes to output, we’vemeasured thiswith our technology and the difference between the highest and lowest performers is a factor of four. “Designedfirst and foremost for construction workers, it gives themthechance toearnperks, recognitionandup to10%more inperformance pay. FAIRPAYclipsonto thebackof ahardhat, and it uses themovement of thewearer’s head to recognisespecific activities likeusingapower screwandmeasuresproductivity, giving them rewardpoints that canbeexchanged for perks that range fromfreecoffee toextra cash in theirwallet. “At the end of every day, each person can see their own performance through an app and knowwhether they had a good day or bad day and how they canmake tomorrowbetter”. Ed explained there’s a big benefit for constructors too. He said: “For every pound they pay in bonus, they’re saving six pound in cost. “In the drylining sector, we’ve seen performance increases of up to19%!The data generated by the technology also gives constructors information that canmake big improvements to how their siteswork from identifying problems and bottlenecks, measuring queue andwaiting times, tofinding optimumshift patterns thatminimise fatigue. But forme, the best part of this is the cultural impact that comes fromaligning project goals with personal motivation”. Ed continued by saying: “There are key learnings fromour journeywith FAIRPAYthat I would advise anyone implementing technology to consider. “You’ve got to have trust!While trust ismuch more important withwearables, I think it also applies to any kind of new technology, perhaps better written as “Howdowe take awaywhat people areworried about?”. Find away to take away theworries, and you remove the resistance to change and adoption. “Make sure there is something in it for the user, if there is, they’ll come to you. You need tomake sure that people see a benefit from the changes youwant tomake, especially if youwant someone in one place tomake a change that benefits a different part of the business. Finding away to reflect the benefits back in feedback, KPIs, time savings, praise, so whatever itmight be it is really important if you want people to come on the journeywith you. “Andfinally, remember the power of positive motivation. Construction environments can be tough and demotivating andwhen things are hard, we tend to default to the stick, not the carrot. But there ismuchmore value in positivemotivation if you can find away to align individual motivationwith project goals the opportunity is huge.This iswhat we see in our FAIRPAYmotivatedworkforces: Not only are people happier, more engaged and actively solving problems thatmake projectsmore successful they’re also costing 20% less and building 20%quicker. “Can you imaginewhat that wouldmean for the industry as awhole?Well, that’swhat we’re striving for atMafic!” www.mafic.ltd Chalkstring project cost management software 2023 FIS Innovation Awards In the Digital innovation category FireDNA Ltd for FireDNAwas the winner. Both Chalkstring for Chalkstring andMafic for Mafic FAIRPAYwere shortlisted. FireDNA received the accolade of being voted by the audience as the overall 2023 Innovation of the Year winner. To read more about the FIS Innovation Awards visit: www.thefis. org/2023/03/01/celebrating- innovation-in-the-finishes-and- interiors-sector Mafic’s FAIRPAY device