Triur Construction:
- Enhanced project visibility
- Significant time savings
- Streamlined invoice processing
Watch: Video Testimonial
About Triur Construction
TRIUR Construction Ltd. is a progressive and innovative specialist Civil Engineering & Building Company that delivers high quality projects safely, on time and within budget.
Challenges
What problems were you trying to solve before LiveCosts?
The company has grown exponentially over the last three, four years. We’ve had significant growth and the sytems and processes we had in place were fit for purpose for a much smaller company. Our challenge is that, in a typical year, we would complete 150-200 projects of various sizes and keeping a record of the costs and keeping a track of those projects as the company has grown has become more and more difficult. So, we really needed to look and find a digital platform which will offer us a solution.
How were those problems affecting your job?
The real challenge was time and communication and accuracy of information. Using an Excel-based manual system required a lot of intervention from our accounts and administration team, numerous calls to the project teams on the ground to collate and gather information so that we could accurately collate the cost information of our projects and pay our suppliers on time and as the business grew, it became more and more difficult to maintain a manual system and then of course, reporting, it’s difficult with a manual based system to have accurate line of sight of your projects at the push of a button.
What reservations did you have using LiveCosts?
No real reservations with any software that is introduced. There’s a change management process. People have to adapt and let go of the traditional ways of working and embracing technology in a new way of working. I think as an organisation, we were ready for that particular change. Obviously, like any system, it’s only as good as it’s inputs, So, I mean, we do work hard at ensuring that we accurately capture costs and capture our time, our labour and plant utilization on a daily basis and weekly basis.
“We really needed to look and find a digital platform that could offer us a solution to efficiently track project costs and manage our growing number of projects.” the weekend.”
Results
What are the main benefits of using LiveCosts for your business?
So, for true, we have seen a significant reduction in the time our accounting and administration team need to take on a week to week or a month to month basis to reconcile our supplier accounts. We now have easy access to information and the purchase order system. The matching of invoices to purchase orders has been particularly beneficial to us. It’s brought a level of control into our organisation. We have seen a reduction in the unecessary or wasteful expenditure. Project teams need to think carefully about passing purchase orders. So, we’ve seen that and certainly the matching gives us control and we now have the repository of invoice information which is matched to purchase orders. So, that gives our account’s team easy access to that information and we’ve also seen the cost saving and time saving with our annual audit process. We now have invoices stored on the LiveCosts system digitally and it’s far easier and quicker for our account’s team to answer audit queries to gather information for our annual audit process.
How much time has LiveCosts saved your company?
It’s difficult to estimate. I wouldn’t want to try and put it down to days. I mean, as I said, our business has grown exponentially. So, there’s been considerable growth and the number of projects we complete on an annual basis has increased significantly. Certainly for us, it has been beneficial and it has brought about a time saving and a level of control that we didn’t have in the business two, three years ago.
What is the most measurable benefit?
One of the big benefits of LiveCosts has been the ability to track our labour and plant allocations to our projects on a week to week basis. Having sight of those costs, we can obviously track the cost build-up of our projects throughout the lifecycle of those projects. That’s hugely beneficial when it’s obviously managing costs to complete and wanting to make sure that we’ve manage our margins on our projects.
“The most beneficial aspect of LiveCosts is the cost and reports for each project and the live profit margins. They’re being shown right there on the home page once you log in so it’s easy and clear to see all the real-time information with our reports being pulled up within minutes.”
Advice
Your advice for people who are considering using livecosts?
I would recommend LiveCosts to any small, medium sized construction businesses which are still running manual administration and processes. It’s a fantastic digital platform. We find it very beneficial. We are undertaking projects from Donegal and Monaghan in the north of the country to Kerry in the south of the country. At any one stage, we have 15 projects running. The digital communication and ease of use for our field teams is absolutely fantastic as it allows them to create purchase orders at source or at site, which we can then monitor and administer from head office without having to make a number of phone calls. So, certainly as a collaboration and a communication tool and platform, it really has benefited our business. It’s simple, intuitive and easy to use and very easy to administer and manage for our administration at head office. So not only does it give us ease of use, it also gives us a fantastic line of sight projects and we can report on our labour costs, our plant allocation and our material costs to date on our projects and we found that a tremendous benefit to our business.
“One of the big benefits of LiveCosts has been the ability to track our labor and plant allocations weekly, allowing us to monitor project costs throughout their lifecycle and effectively manage our margins.”