From a data standpoint, contracts are relatively straightforward. You need to know variables such as the original contract amount, revisions, the balance to bill, cash receipt amount and approved changes. As opposed to static printouts or spreadsheets, our cloud-based platform allows you to update these items in real-time and access them quickly in the dashboard. In addition, the analytics engine can run a wide variety of reports on the state of your contracts to see trends, make predictions and get a clearer picture of what’s happening.

Our platform gives contractors greater transparency into both projects and operations. You can monitor, update and forecast important factors such as cost of rework, labor costs, job-to-date costs, percent complete and estimated X (cost, units, hours, etc.) at completion.

For GCs and specialty contractors alike, nothing is more important than client satisfaction. We offer construction-specific tools for tracking and continually improving your progress on client satisfaction with both the service you offer and the product for which your teams are responsible. Trends related to repeat business and gross profit come into sharper focus.

Construction contractors need to gauge their ability to pay off short-term obligations. ProNovos puts liquidity ratios right at your fingertips. Users can game-plan different scenarios to run reports on current assets to current liabilities; current assets excluding inventory; current liabilities (cash and readily convertible investments); and more. Liquidity related KPIs in ProNovos: current ratio; quick (acid test) ratio; days of cash; working capital turnover; and current-to-total-assets ratio.

Controlling costs, staying on schedule and running safe, high-quality projects requires extraordinary discipline. To thrive, contractors need to make smart internal use of their assets and liabilities. By generating efficiency ratios, ProNovos helps contractors see how long they’re taking to collect cash from customers and repay liabilities. These reports also yield insights into your ability to generate income using machinery and other assets. By crunching the numbers for both the short term and the long haul—as well as various what-if scenarios—contractors can ramp up their efficiency and, in turn, their profits. ProNovos efficiency KPIs: Days in Accounts Receivable, Days in Accounts Payable and Days in Inventory.

Our platform provides new insights into the sales and pre-construction dynamics at general and specialty contracting firms. ProNovos KPIs in this area include pending bid amount by X (e.g. project manager, time, client, project size, etc.), and backlog amount, awarded amount and bid amount. The potential to better understand your business in these areas is vast. For just a glimpse, check out our blog post on Achieving a Balanced Backlog via Construction Data Analytics.

A general contractor is only as good as its subs. Subcontractors, meanwhile, are under the gun to demonstrate and continually improve their performance. We’ve designed ProNovos to help GCs identify the best subcontractors, and to help specialty contractors do a better job and win more bids. KPIs: productivity, quality of work, safety incident rate, rework count and compliance percentage.

Our HR module helps you understand and forecast important metrics related to the performance of your internal teams—a functionality that is especially important given the fluctuation in labor availability in construction. Our HR KPIs include: attrition rate, employee satisfaction index, number of full-time equivalents, average tenure and cost per hire.

Contractors have complex debt and equity profiles that require highly accurate tracking and forecasting. The goal is to maintain an accurate picture of your ability to meet your financial obligations. The robust leverage ratio KPIs in ProNovos include debt to equity; current liabilities to equity; revenue to equity; asset-turnover ratio; fixed asset ratio; underbillings to ratio; AP to revenue; equity to overhead; fixed-asset newness; general and administrative (G&A) to revenue; and net worth to assets.