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Construction Tech Review | Tuesday, July 14, 2020
The latest platform offered by the RedTeamCan benefit the construction companies as it will help them to keep track of the business finances during this pandemic.
FREMONT, CA: RedTeam has recently launched their newly developed software that will allow the construction industry to get familiarized with the present situation with COVID-19. The catastrophic situation created due to the pandemic has forced the companies to move into a new era of growth with more advanced technologies to help them cope with the situation.
Therefore, RedTeam took the initiative and launched a complementary feature to its extensive platform. The company has launched its latest Financial Features and Accelerates Software Enhancement to be advantageous for its clients in the construction industry. The latest technologies consist of a full Sage 100 integration, a more modernized app, and efficient management tools. It also offers its users with contractor-subcontractor, project management, and even financials.
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Today, the companies have become more focused on their finances because of the dire situation. The RedTeam launched their latest financial management project during this urgent situation that features a better developed Project Cost Categories and Project Phases. It will help the construction companies to implement certain distinctive descriptions to the cost items taken during preconstruction. Furthermore, the construction companies can also help their project teams so that they can have a better understanding of the costs that can occur during construction.
Apart from these highly advanced features, other tools have been added by the RedTeam so that the project teams keep an update of the estimated cost at completion (EAC) by monitoring the probable cost acquire the balance of the project scope. The latest revised EAC can determine the key to project financial management as it is a recurring deliverable for the project teams.
It can be intimidating to forecast the future of business during such uncertain times, but companies can also examine the various technologies utilized in their workforce during such situations. Moreover, according to Michael Wright, CEO at RedTeam “this pandemic is likely going to alter some industry practices, so construction companies should be looking for support systems that can help them adapt.” He also mentioned that “we remain committed to serving this industry before, during and after the pandemic by continuing to be a resource and providing professionals with all the necessary enhancements to our platform”.
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