Introducing SYNCHRO Cost (12/3/2021)
Staying true to our mission to simplify how users construct, we are excited to officially launch SYNCHRO Cost, a scalable construction project cost management system intended for construction contractors with a focus on heavy civil projects. SYNCHRO Cost is a digital solution designed for managing construction contracts, change orders, and payment applications. It is an integrated part of the complete SYNCHRO Construction portfolio that enables project and cost managers to oversee contracts and project budgets more easily to better manage risk, as well as gain real-time insight into the financial health of their projects. All construction team members can now collaborate on their assigned contracts and related forms in one place.
SYNCHRO Cost allows Project Managers, Cost Managers, and Superintendents to:
- Monitor All Progress - Track every approved payment line-item progress. Easily identify percent complete against the schedule of values.
- Keep Control of Their Budget - Monitor and view their contract to easily identify where costs are being added.
- Communicate in Real-World Context - Optimize construction tasks by reviewing and engaging with stakeholders in the SYNCHRO project environment.
- Summary Grids - Quickly view and manage your contracts, schedule of values, change orders and payment apps in one simple view.
- Connect Other Project Workflows - Effortlessly connect to other forms on projects. Easily create relationships to get a better and deeper project context.
- Communicate with Full Transparency - Keep your entire team on the same page at every stage. Full transparency guarantees better performance and greater visibility into cost data.
Key features include:
- Contract Capture - Capture contract highlights for quick reference and decision-making in one place.
- Schedule of Values (SoV) - Breakdown of a contract into line items. View all SoV items on each contract.
- Change Orders (CO) - Collaborate with team members on a CO before negotiating with the owner or subcontractor.
- Payment Application (Pay Apps) - See progress from pay app to pay app throughout the project lifespan.
- Potential Change Orders (PCO) - See and track your set of PCOs to help identify risks. Manage the negotiation process in one place.
SYNCHRO Cost is a part of SYNCHRO Control, which is a cloud-based, SaaS solution that is accessed via a standard web browser (Chrome, Firefox, Edge, Safari) from any device with internet connectivity – no additional client software required.