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PLAN & CONTROL

Stay on top of project financials from start to finish

  • li icon Create and approve budgets through a tailored multi-level approval process
  • li icon Track the percentage of the budget utilized and monitor project financial status in real time
  • li icon Visually compare estimated costs to actual spending with dynamic cost analysis graphs
  • li icon Identify budget discrepancies and improve cost control with variance analysis
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FORECAST

Avoid cash gaps with accurate forecasting

  • li icon Forecast cash inflows and outflows using project schedules, budgets, and historical data
  • li icon Plan for liquidity needs, ensuring you can meet financial obligations without delays
  • li icon Get real-time alerts for potential cash flow issues to take proactive measures
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MONITOR

Evaluate the financial health of each project

  • li icon Analyze project profitability by comparing real-time revenues and costs
  • li icon Monitor key indicators like Cost Performance Index (CPI), Budget at Completion (BAC), and Earned Value (EV)
  • li icon Use detailed financial insights to refine project strategies and improve profitability
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AUTOMATE

Streamline financial operations

  • li icon Automate invoice generation based on project progress or milestones to ensure accurate and timely billing
  • li icon Track advance payments, guarantees, invoices and retentions to improve cash collection and eliminate cash gaps
  • li icon Manage cash assets and bank transactions within the system for precise records
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Achieve your goals with these features

Here are FirstBit ERP tools and reports to enable better management of construction projects.
Cash flow dashboard

Cash flow dashboard

Get a real-time snapshot of cash flow, payables, and receivables.
Cash flow statement

Cash flow statement

Generate detailed cash flow reports for audits and regulatory purposes.
Project cash flow plan

Project cash flow plan

Plan project-wise cash inflows and outflows to ensure sufficient liquidity throughout the project lifecycle and avoid cash gaps.
Cash assets balances

Cash assets balances

Monitor current cash and bank balances in real-time to make informed decisions about resource allocation and payments.
Cheques analysis

Cheques analysis

Track post-dated and cleared cheques to manage payments effectively.
Bank reconciliations

Bank reconciliations

Reconcile bank transactions automatically to maintain accurate records and minimize discrepancies.
Project P&L

Project P&L

Generate profit and loss statements for individual projects to assess financial performance and profitability.
Unmatched bank documents

Unmatched bank documents

Identify and resolve mismatched transactions in your bank statements to ensure financial accuracy.
Payment schedule

Payment schedule

Plan and monitor upcoming payments to suppliers and subcontractors to avoid delays and cash gaps.
Money transfers

Money transfers

Simplify internal fund transfers between bank accounts or projects for better cash management.
Phased revenue recognition

Phased revenue recognition

Recognize revenue incrementally based on project milestones or completion percentages for accurate financial reporting.
Cost allocation

Cost allocation

Allocate all types of costs like materials, labor, and overheads to specific projects and departments for precise expense tracking.

Explore FirstBit ERP solutions for construction finance management

FirstBit ERP was a good deal because it was economically viable for our budget and tailored to our industry needs. Here we have an overview of project reports which helps us understand the bidding value, the progress of the project, the costs incurred, where we stand, and what the collections are.
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Rawthar Shah
Finance Manager at Fine Edge Decor
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FirstBit ERP was a good deal because it was economically viable for our budget and tailored to our industry needs. Here we have an overview of project reports which helps us understand the bidding value, the progress of the project, the costs incurred, where we stand, and what the collections are.

Who can get better results with First Bit Finance Management module

Owner | CEO

Owner | CEO

Make informed strategic decisions Explore arrow-left
CFO

CFO

Control costs and project profitability Explore arrow-left
Accountant

Accountant

Make accounting error-free and compliant Explore arrow-left

Frequently asked questions

What is construction finance management software?

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Construction finance management software supports budgeting, cost tracking, cash flow forecasting, and financial reporting. FirstBit ERP elevates this functionality by integrating finance management with other modules like project management, procurement, and accounting. This ensures that financial data is synchronized across all operations, providing tools such as cash flow dashboards, cost variance analysis, and project profitability reports for better decision-making and financial control.

Can FirstBit ERP handle finance across multiple projects or departments?

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What reports can I generate with the FirstBit finance management module?

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What data can be transferred from our previous software to the FirstBit ERP system?

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Do we need to update foreign currency rates manually in FirstBit ERP?

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How many companies can we create and manage in FirstBit ERP?

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Don't find an answer? Meet our expert to get a detailed quote.
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Get to know the best FirstBit ERP features

Developed by experts in business automation of construction and contracting companies and united in a single customizable software.
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Project cost control

Project cost control

Avoid going over budget
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Project management

Project management

Keep projects on track
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Procurement

Procurement

Enable cost efficient purchasing
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Accounting

Accounting

Ensure compliance and financial accuracy
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Taxes

Taxes

Ensure UAE tax compliance
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HR & Payroll

HR & Payroll

Manage workforce and payroll with ease
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Warehouse management

Warehouse management

Optimize supply chain
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Equipment management

Equipment management

Control equipment usage
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Production

Production

Integrate manufacturing processes
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CRM

CRM

Ensure all bids are submitted on time
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Sales

Sales

Streamline client negotiations and billing
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See FirstBit ERP solutions in action

Discover how our system solves the unique challenges of contractors in a personalized demo.

After the demo you will get a quotation for your company.