General Inquiries

Projections, Forecasting and Trending

  • 1.  Projections, Forecasting and Trending

    Posted 02-05-2019 09:07

    We are a General Contractor/Construction Management firm and are wanting to put more focus this year into projections, forecasting, and trending against our prior year information. I'm curious as to how others are currently doing this – through Accounting Software (we have Sage 300), Excel, or other options? We would appreciate any information shared!

     

    Thank you,

     

    JESSICA MACLAREN | Controller

     

    3911 W Newberry Road

    Gainesville, FL 32607

    p. 352.363.6070 |

    Twitter | Facebook | LinkedIn | Scorpioco.com

     

    /Users/Allison/Library/Containers/com.microsoft.Outlook/Data/Library/Caches/Signatures/signature_1103448566

     



  • 2.  RE: Projections, Forecasting and Trending

    Posted 02-13-2019 14:31
    Edited by Tuong Do 02-13-2019 14:31
    Hi Jessica,
    We have created a business intelligence suite of tools that integrate into others to do forecasting, projections, and trending using MS Power BI.  This allows you to enter data into one system and see the trending in a visual tool.  Let me know if you'd like to talk more about this solution.

    Kind regards,
    Tuong
    tdo@prospectionbi.com
    Prospection
    Prospection remove preview
    Prospection
    Construction Software Business Intelligence Suite. Custom Reporting. Excel based reporting. Data Warehouse. ETL Engine. Primavera P6. Integration. HRIS. CRM. viewpoint dashboards power bi aging report.
    View this on Prospection >


    ------------------------------
    Tuong Do
    Director of Development
    Prospection Business Intelligence
    (805) 229-1267
    ------------------------------



  • 3.  RE: Projections, Forecasting and Trending

    Posted 02-15-2019 08:17
    This is an interesting discussion.  Is the tool able to read data from other databases?  And, does it assist in cash flow forecasting?

    ------------------------------
    Joseph Harper CPA, CCIFP
    CFO
    Greater Dayton Construction Group
    Beavercreek OH
    (740) 607-1449
    ------------------------------



  • 4.  RE: Projections, Forecasting and Trending

    Posted 02-15-2019 08:42
    Hi Joseph,
    Yes we can read from multiple data sources and an help create a cash flow forecasting report.

    Cheers,
    Tuong
    tdo@prospectionbi.com
    www.prospectionbi.com



    ------------------------------
    Tuong Do
    Director of Development
    Prospection Business Intelligence
    (805) 229-1267
    ------------------------------



  • 5.  RE: Projections, Forecasting and Trending

    Posted 02-15-2019 11:09
    Jessica,

    I used Prophix (https://www.prophix.com) at my previous position as controller/Chief Analytics Officer for a large GC.  The sales and support teams were great to work with and the implementation team did an amazing job of getting us setup and functional in a short amount of time.  In addition, the software has great capabilities to be used for financial reporting, budgeting, forecasting and several other areas outside of finance.  Prophix also has capabilities to bring information from various sources to help you have accurate and timely projections, forecasts, and trends.

    I had conversations with other Prophix potential clients and users in that role as well.  I am working in consulting now, but would be happy to visit with you on any questions you may have, what is possible to implement in finance and accounting, and/or the other areas that could benefit from the software.

    ------------------------------
    Michelle Phelps MBA
    Former Controller/Chief Analytics Officer
    Kansas City MO
    (620) 202-1258
    mbkphelps18@gmail.com
    ------------------------------



  • 6.  RE: Projections, Forecasting and Trending

    Posted 03-01-2019 15:22
    Jessica,
    i don't normally reply Inline (within Forum threads) to member questions as we feel the Forum is primarily intended for member to member interaction.  When consultants, resellers and vendors reply it can create a storm of replies from other consultants, resellers and vendors as there is overlap in solutions that are available to you and other members.  For instance, this thread is entirely within our wheelhouse (numerous members utilize our technology for these purposes).

    I am not going to go into how we address these opportunities or how many companies utilize our technology as I feel that would be self promoting.  Instead I'm hopeful that your peer CFMA members who work for construction companies will respond with their experiences.

    There are quite a few software vendors, resellers and consultants who are associate members who are also quite experienced with the sorts of things you've posted that you are interested in.   You may already be aware however for the benefit of this thread you can find them the Member Director - http://cafe.cfma.org/network/members

    You can also find complimentary information under Publications & Resources on the main CFMA page (home) under the Buyers Guide and also under Other Construction Associations.

    I believe in this association (I've been a member for over 35 years) and in member to member advice and assistance.

    Good luck!

    ------------------------------
    James Coyle
    VP of Business Development
    Event 1 Software
    Vancouver WA
    (360) 356-1937
    ------------------------------