Aconex for Contractors Tackles Crisis in Construction Project Performance
Platform provides visibility and control of cost, productivity, and process efficiency
SAN FRANCISCO, California, April 5, 2017 – Aconex Limited (ASX: ACX), provider of the #1 global platform connecting teams on construction and engineering projects, today launched Aconex for Contractors, a construction management platform that gives general contractors unprecedented visibility and control of their projects and portfolios. The platform helps contractors automate and standardize processes across their projects to avoid cost and schedule overruns, increase productivity in the field, and improve efficiency of execution. Watch a brief video on Aconex for Contractors.
Today, most construction projects run 20% over schedule, approximately 80% run over budget, and the average cost overrun is 70%.1 Productivity has increased only 1% in the last 20 years1 and significantly lags growth in other industries.2
“Industry experience has shown that managing projects on disconnected systems and point solutions is a recipe for higher total cost of ownership, increased risk and ultimately failure,” said Chris Dobbyn, senior vice president of the Americas at Aconex. “Aconex for Contractors connects the contractor’s entire supply chain and streamlines processes between the office and the field, across all organizations, disciplines and functional teams. The platform also connects project information with project controls to measure performance and warn the contractor early of issues that may jeopardize schedules and budgets. Aconex for Contractors is highly secure, easy to use and accessible on all devices, anytime, anywhere.”
For more than US$1 trillion worth of projects in over 70 countries, Aconex has connected teams, data and processes on a single cloud-based collaboration platform for successful project delivery. With today’s launch of Aconex Connected Cost3 and other new capabilities, the company expands this platform to include project controls for cost and schedule management, enhanced process automation for field productivity, and insights for assessing project performance early and often. The result is Aconex for Contractors, an enterprise-grade construction project management platform.
New Capabilities for Today’s Contractor
Aconex for Contractors is purpose-built for contractors engaged in commercial and residential construction projects of all sizes. As such, it leverages all the capabilities of the Aconex collaboration platform for project data and workflow management, while integrating new capabilities to improve performance and productivity across the portfolio.
For cost, contract and project controls managers:
Aconex Connected Cost provides budgeting and forecasting, real-time cost tracking and variance analysis, program management for entire project portfolios, contract administration for contract change management across the project team, subcontractor claims and payments processing, and data exchange with internal ERP (enterprise resource planning) and scheduling systems.
For field teams on site:
Aconex Mail Distribution Rules enable teams on site to create correspondence workflows customized to their specific processes, such as RFIs (requests for information), change orders and variations, and NCRs (non-conformance reports). Process data can be captured on Aconex Mobile apps, communicated project-wide, and stored in an audit trail for easy search, reporting and replication on other projects.
Aconex Field Forms help contractors manage inspection processes requiring specific forms or templates for regulatory or compliance purposes. Rather than manually managing inspections on paper, teams can complete PDF forms on site, capturing inspection data in real time from their mobile devices for distribution, reporting and permanent storage in the project audit trail.
For project and portfolio managers:
Aconex Insights provides real-time dashboards and graphical reports for contractors to quickly visualize and communicate their performance at the project, portfolio, process, and detail levels. Early insights into critical processes help them identify and correct bottlenecks and other issues that could slow productivity and derail projects later in the construction lifecycle.
Aconex for Contractors comes with the industry trust and user familiarity that the Aconex platform has built globally over the last 15 years. Learn more about Aconex construction management software.
Aconex provides the #1 cloud and mobile collaboration platform for the global construction industry. This platform connects owners, contractors and their project teams in the construction, infrastructure, and energy and resources sectors, providing project-wide visibility and control between the many different organizations collaborating across their projects. With more than 70,000 user organizations and over $1 trillion of project value delivered in more than 70 countries, Aconex is the industry’s most widely adopted and trusted platform. Founded in 2000, Aconex has 47 offices in 23 countries around the world. The company’s ordinary shares are traded on the Australian Securities Exchange (ASX) under the ticker code ACX and are included in the S&P/ASX 200 Index.
1 McKinsey Global Institute, June 2016
2 The Boston Consulting Group (BCG), March 2016
3 Aconex news release, Aconex Launches Connected Cost, April 5, 2017