Contracts with subcontractors
Handle all your contracts with third party companiesLarge-scale projects are common in the construction industry. Companies must connect organizations with varying levels of expertise to realize their goals. As a result, subcontracting work is a handy option for the successful performance of the projects. 4Construction allows you to store contact information with your subcontractors and to be aware of the ongoing communication. Thanks to an add-on of our solution, you can manage the budget and trace the accumulated costs later. Fulfilling the contract can happen in two ways: 1) You can create a purchase order based on it or 2) choose the agreement when recognizing the work done by the vendor recognized as a subcontractor. The functionality also allows you to divide the process into two parts. The registration of the progress is not related to invoicing issued by the vendor.
- Our solution uses the purchase agreement to maintain the subcontractor contracts.
- You have access to information about what is negotiated with the vendor, services to be performed, quantities, and prices.
- Subcontractor information starts in the work breakdown structure of the project. It shows in detail each activity assigned to the subcontractor.
- Creates a relation between the purchase agreement, the construction project, and the exact activity in which the work will be performed.
- Allows to manage and trace the budget and accumulated cost.
- You are aware of the work performed by subcontractors, reported on а project level, agreement, and work breakdown structure (WBC) activity level.
- Track the fulfillment of the purchase agreement through purchase orders. You can generate them automatically based on the work reported by subcontractors.
- The feature helps you recognize expenses on a project level upon posting of vendor invoices.