4castplus e-LEMSolutionsTRACKING CONTRACTOR LEM PROJECT COSTS

Most construction companies experience challenges with streamlining the effort of accurately recording project costs from the Jobsite on a daily basis

It’s extra tricky when you have contractors working for you – and you need to capture their LEM costs as wellLEM stands for Labor, Equipment, Materials & other Expenses

Getting all the LEM data together can be time-consuming, error-prone and cause numerous issues for the operations and finance teams back in the office

Issues like:

JUST TO NAME A FEW

• Getting Information that’s Inaccurate and Late• You have little visibility into current project costs• And NO visibility into Accruals• It’s near-impossible to match & approve vendor

invoices• You have bloated staff-levels required to handle

all the manual effort• Your projects often run over budget

If this looks familiar, and is a struggle for you, we’d like to help you fix all that

At 4castplus, we can help you put an end to the complexity of daily LEM tracking

We provide critical technology for capturing daily Jobsite LEM data – for both your costs, AND the LEM data incurred by your Contractors

Imagine having all your project cost data – from you and all your contractors – organized into one central place. A place that’s owned and controlled by you.

It’s a HUGE leap forward

Consider this:

• All the LEM data is input into YOUR system every day

• All contractor rates are pre-approved and error-free

• Accruals are managed automatically and always up-to-date

• Save time and money and headaches for both you and your contractors

• You can Reverse-Invoice your contractors for AP Automation

• You can negotiate more favorable contracts and terms

Here’s how it works …

You configure 4castplus to enable your site personnel to capture both your own LEM data, and your contractor’s LEM

Your Contractor LEM data can be applied as incurred costs against the purchase order contract(s) you have with that contractor …

Let me tell you why that’s so important …

The contract has a ton of key information about what, where, who and how much. Information that’s vital for accurately tracking contractor costs

For example, the contract has the vendor’s rate sheet which holds all the agreed-to chargeable rates for each discipline.

Here’s a quick explanation...

In 4castplus, you can create a Contract with your Vendor

Awesome Construction Contract #T209017

As part of that Contract in 4castplus, you can upload your vendor’s Rates

Awesome Construction Contract #T209017

Awesome Construction Rate Sheet #1

You can then create one or more Purchase Orders that use that contract & associated Rates

Awesome Construction Contract #T209017

Awesome Construction Rate Sheet #1

Purchase Order #456

Purchase Order #123

Field Personnel will reference the Purchase Order when tracking that Contractor’s LEM data

Awesome Construction Contract #T209017

Awesome Construction Rate Sheet #1

Purchase Order #456

Purchase Order #123

No more issues or disputes around rates. No coding errors. Complete Visibility.

Your field personnel only need to enter the quantities of hours & units – and the system takes care of calculating the $$ amounts based on what’s on the contract.

The contract also has a committed value for each line-item. This enables you to compare incurred costs against original committed. AND, the system can reject any overages.

There’s Lots More …

The contract is also pre-coded – so that the incurred LEM costs are routed to the correct activities and cost codes.

You can also have different types of contracts – like Fixed Price, Unit Price, T&M, etc. – and the system will handle the differences.

In addition to all that – you can optionally take advantage of a “Reverse Invoicing” model to vastly simplify contractor invoice matching and approvals.

Reverse Invoicing?

Reverse Invoicing is where you provide the invoice data to your contractor, instead of them sending it to you – because all that data resides in YOUR system

True AP Automation

So, let’s take this to the next level …

What if you could get your contractors to enter their own LEM into your system?

What if 4castplus could provide a Portal where your contractors could securely access their own private area to enter their daily LEM data?

Introducing the new4castplus Vendor eLEM Portal

With the new eLEM Portal, you can share the effort of capturing LEMs between you and all your contractors

In a highly secure and highly controlled environment

You control who gets access

All LEM entries are submitted to you for multi-level approval

Each Contractor will complete their daily LEM and submit that to your Site Supervisor for approval

Contractor 1

Contractor 2

Contractor 3

Submit for Approval

Submit for Approval

Submit for Approval

Your Site Supervisor

To enter their LEM data, Contractors can use the 4castplus notoriously-easy-to-use LEM capture interface …

Or, they can upload their LEM data from a file …

Either way, it’s immediately available to you for approval and reporting – and to AP for payment

That’s it, in a nutshell. But there are a lot of details we’d like to share with you so …

To Learn More or Contact Us:• Visit our Website at: www.4castplus.com• Sign-up for a Free Demo at: www.4castplus.com/freedemo• Contact us by Phone: +1-403-450-7887• Contact us by email at: info@4castplus.com

We are a Quality and Service-Driven Organization