RIB BuildSmart offers a comprehensive solution that combines costing, project accounting, and enterprise accounting functionalities tailored for construction and engineering businesses. The platform enables real-time visibility into all committed, accrued, and actual project costs, categorized by ledger code and activity, facilitating precise financial control and informed decision-making. With features such as subcontractor management, retention payment handling, and earned value management, RIB BuildSmart addresses the unique financial requirements of contracting businesses. Its integration capabilities with other project management tools ensure seamless data flow across various business functions, enhancing operational efficiency and financial transparency.

Features:

• Integrated Costing and Accounting: Combines project costing with enterprise accounting for unified financial management.
• Real-Time Cost Visibility: Provides up-to-date insights into all project costs, aiding in accurate financial tracking.
• Subcontractor Management: Facilitates efficient handling of subcontractor relationships and payments.
• Retention Payment Management: Manages retention payments systematically, ensuring compliance with contractual terms.
• Earned Value Management: Monitors project performance and progress through earned value metrics.
• IFRS 15 Compliance: Supports revenue recognition in line with IFRS 15 standards, ensuring regulatory compliance.
• Multi-Company and Multi-Currency Support: Handles financial operations across multiple entities and currencies, with options for full or partial consolidation.
• Dynamic System Roles: Allows for proper segregation of duties with strict access controls, enhancing security and accountability.