This innovation unites project management and service delivery into a single platform to drive margin performance;
Customers benefit from higher visibility into project performance & receive real-time insights they need to manage costs
DURHAM, N.C., Nov. 15, 2022 (GLOBE NEWSWIRE) -- Today at the Digital Wrap Conference, ServiceTrade, a leader in purpose-built software for commercial contractors, released Project Management – a game-changing new capability to centralize and manage critical project management workflows.
For service contractors, many projects struggle to generate meaningful profits due to reactive processes in which cost overruns are identified too late, change orders aren’t communicated to customers promptly, and the lack of real-time data burdens service technician productivity.
Against this backdrop, project teams are leaning more toward visibility and collaboration tools to improve delivery. In fact, new research shows that mechanical contractors that do more proactive work and on-budget projects grow 122% faster than their peers that focus on reactive, service-call-oriented project work.
Yet many project managers still utilize basic spreadsheets, rely on accounting systems that focus only on accuracy at the expense of real-time insights, or buy construction-centric management tools that are too large, expensive, and administratively burdensome for their needs.
“Every commercial contractor wants to balance growth with profitability, yet most rely on siloed systems and reactive processes that focus on one engagement at a time at the cost of building long-term value for their client,” said Billy Marshall, the CEO of ServiceTrade. “That’s why we created Project Management, a powerful tool that provides higher visibility into project performance and delivers real-time insights commercial contractors need to manage costs and exceed customer expectations.”
Project Management Highlights
With Project Management, contractors who sell budgeted projects alongside maintenance and inspection services now have a centralized customer operations platform to deliver long-term value to their customers from installation to invoice.
Project Performance Reporting is at the heart of Project Management. This dashboard goes beyond the financials to provide real-time, real-world insights about everything from budgets and change orders to progress billing and live technician updates.
Project Management Capabilities
- Delivers projects on budget and on track with a unified view of financial and operational progress. With Project Management, it’s easier to catch issues before they become cost overruns.
- Keeps everyone up to speed, from finance professionals to project managers to the field technicians delivering the work. With Project Management, real-time data equals more strategic and informed decision-making.
- Operates flexibly and reallocates resources when needed. Project Management seamlessly integrates with ServiceTrade, so front office teams and service technicians have a single platform for all their work.
Project Management Application Examples
- Mechanical contractors can easily manage upgrading and replacing multiple rooftop units on an office building with numerous phases and milestone billing.
- Fire life safety contractors can tightly control their costs on extensive, multi-week inspections, so they don't exceed their budgeted labor costs.
- Electrical contractors can quickly identify issues in the routine maintenance of large generator systems, quote repairs, and manage the budgeted scope all in one platform.
Feature Availability
Project Management is built natively on ServiceTrade’s platform. Select features are available today for all users with ServiceTrade Premium and Enterprise plans, with more functionality available in Q1 2023.
- Detailed (or discrete) cost tracking - Available now
- Realtime progress reporting - Available now
- Budget Management - Q1, 2023
- Change Orders - Q1, 2023
- Progress Billing - Q1, 2023
- Project Performance Reporting - Q1, 2023
For More Information
- Watch a demo of Project Management here.
- Attend a webinar: Dec 6th for current customers or Dec 7th for contractors who are not current customers.
- Read more about it on the ServiceTrade Blog.
About ServiceTrade
Founded in 2012, ServiceTrade makes software-as-a-service (SaaS) applications for commercial service contractors, such as mechanical contractors, HVAC contractors, and more. These contractors utilize ServiceTrade’s mobile & web applications to streamline operations, improve efficiency, and increase revenue. ServiceTrade currently serves roughly 1,000 commercial contractors. The company can be reached at: www.ServiceTrade.com.
Media Contact Information
Brian Bachofner, ServiceTrade Chief Marketing Officer
704.661.4134
brian.bachofner@servicetrade.com
