Archive for January 2010
Known in short as CIS; Construction Industry Solutions addresses a single market place, the construction industry.
The construction sectors requirements are highly specialised and CIS provide a solution that bests fits each individual client. Clients who use CIS can range from small house builders, specialist companies to the largest house builders in the country.
CIS is designed to give instant up-to-date information that allows you to manage your contracts . Knowing what money is owed to you and when it is due to be paid is one of the critical issues for any business and is no different in the construction industry. CIS eases this administrative burden.
Controlling the costs of a project can be an intimidating task for many businesses in the construction industry. Not only do businesses need to track the costs of purchases, there may be sub-contractors who need to be paid under HMRC’s Construction Industry Scheme regulations, as well as raising and chasing the Payment Applications to clients. Has a Payment Application been certified? How much is the Main Contractor Discount? When is the retention due for payment? How much profit did you make on that job? These are the typical questions asked, but quickly getting the answers can be the problem when running a construction project, which is how CIS can help.
The main features that CIS provide are as follows:
o The system provides complete control for contracts management, from costing
through to payment applications, VAT invoicing and cash receipt matching.
o If you consider the percentage of overruns on construction projects then there is clearly an immense need for software that can help aid in delivering a project on time and within budget.
o Cash management is crucial if you are to make a profit in a contracting environment. Pegasus CIS has been designed to allow up to date information so that you can service and manage your contacts.
o The financial position is always available and can be analysed and integrated using user definable view screens.
o The Management Information System (MIS) provides multiple financial reporting facilities, and because the system was designed with MS Windows in mind it has an export facility to Excel.
A CIS system allows direct costs to be input against a contract, as well as costs derived from labour timesheets, purchases, stock and from sub-contractors. There is also wide ranges of analysis reports available; giving businesses views of the current status of contracts, including job performance and detailed profit analysis reports.
Effective cash management can make a serious difference to the profit on a contract. Pegasus CIS gets you all the correct contract information across all stages of a job so that the status of the contract is ready for you straight away.
CIS differs from most systems as with other systems you are restricted in what data you can view as you are unable to go deeper into the critical information that you need. However a CIS system allows you to look up data from across the system; you can list screens, add filters and export information that you need straight away, which lets you see exactly what you need to.