Solution brief for Financials
Learn about the business benefits that Financials can deliver.
Unify Your Back Office and Field Teams
What is CMiC Project Controls?
CMiC’s Project Controls solution allows users to effectively monitor project budgets, including time, expenses, suppliers, and costs. On top of that, it equips users to identify issues early in the process and course correct in a timely manner. By providing access to every version of your team's project documents, you will be able to stay on top of all project changes and deliver results with seamless execution.
What are the key business benefits that CMiC Project Controls provides?
Improves Financial Forecasting, Employee Compensation Tracking, and Profitability Management:
Payroll can track employee compensation and calculate the full financial burden (overhead and benefits) when costs are allocated against budget lines.
Finance gains complete cost data for forecasting purposes and P&L analysis - this ensures construction firms understand the true cost of each employee.
Empowers GCs in Managing Subcontractors and Change Management:
GCs can manage risk by streamlining complexity, tracks progress against the schedule, identifies budget variances early, and clarifies scope of work—helping to mitigate change orders before they become costly issue.
Helps Track Actual Costs Accurately:
This includes all labor costs (including subcontractors), materials, and equipment expenses—including equipment maintenance and storage costs.
Why choose CMiC Project Controls?
Gain the Single Database Platform Advantage
Financial Forecasting (GC Monitor)
Forecasting pulls live data from Job Cost, Payroll, Subcontract and Change Management, delivering real-time cost visibility without manual updates.
Forecasts stay current and accurate automatically, no spreadsheet reconciliation or waiting for month-end actuals. PMs and Finance work from a single source of truth.
Posted change orders, subcontract costs, and labor expenses flow directly into projections.
PMs spot cost trends and take corrective action before problems surface in WIP or billing.
WIP (Work in Progress)
WIP draws data directly from Job Cost (actuals), Forecasting (projected costs and revenue), and Billing (Over/Under).
WIP reports reflect true project financial position, no manual reconciliation or timing gaps between accounting and project teams.
WIP values update automatically when costs, billings, or changes are posted.
Provides visibility into margin and profit trends in real-time.
Executives can review WIP knowing the numbers align perfectly with the GL and project forecasts.
Billing
Billing pulls contract and cost data directly from Subcontract Management, Change Management, and Job Costing, capturing changes the moment they are posted.
Billing matches what is earned, committed, and approved, eliminating double entry, reducing disputes, and improving cash flow.
Approved change orders flow automatically into billing periods.
WIP Over/Under ties directly to invoiced amounts.
Finance spends less time reconciling data and more time managing cash position.
Change Management
Change events feed directly into Forecasting, Subcontracts, Billing, and WIP, instantly adjusting commitments, costs, and revenue projections across the system.
Provides complete financial control over scope changes. Teams can view the cost and margin impact when changes are approved.
Forecasts, WIP, and Billing update instantly when change orders post.
Prevents missed revenue, protects margins, and strengthens audit trails.
Subcontract Management
Subcontracts connect to Change Management, Job Cost, Forecasting, and Billing, keeping all subcontract activity in sync with project financials.
Subcontract values, commitments, and payments stay aligned with project financials. There is no lag between field execution and accounting reports.
Committed costs and forecasts update immediately when subcontracts are executed or revised.
Eliminates errors from manual entry and timing gaps between PM and accounting teams.
Why Project Controls Are Vital to Project Success
While most construction enterprise software solutions have project controls built in, the quality of these controls varies significantly across platforms. Some solutions lack flexibility, others don’t have a reliable central database to pull from. Either way, if you don’t have sufficient project controls, you could become blind to cost overruns, planning oversights and a range of other potential disasters.
Case Study: Iovino Enterprises Optimizes AP Processes with CMiC
“Our aim is to empower executives with the necessary tools and information they need to navigate complex project landscapes more effectively. By leveraging CMiC, we provide a valuable resource that simplifies decision-making and enhances overall operational efficiency." - Selin Akbaba, Business Systems Manager, Iovino Enterprises,
Solution brief for Project Controls
Learn about the business benefits that Project Controls can deliver.
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