Managing construction contracts is complex. It’s crucial to have a system that simplifies your contract administration process, especially when you’re dealing with:
- Multiple stakeholders.
- Varying project requirements.
- Tight deadlines.
That’s where construction contract administration software comes in. This blog covers everything you need to know about the top solutions, including their benefits, features, and limitations.
By the end of this blog, you’ll be able to make the best decision for your business.
Let’s get started!
What is construction contract administration software?
Construction contract administration software is a platform designed to organize, manage, and coordinate all documents and data related to construction contracts.
It simplifies your administrative processes so you can focus on important work, whether you need to negotiate bids or sign more deals. With this solution, you can seamlessly:
- Administer contracts.
- Change orders.
- Obligations.
Benefits of a contract management system for construction projects
Improved efficiency and transparency
A contract management system streamlines the process of documenting and tracking:
- Contracts.
- Reports.
- Job changes.
It provides real-time tracking and improves efficiency and transparency by making information accessible. So, everyone on your team can get updates from anywhere through mobile notifications.
Automated processes and reduced risk
This software reduces risk through automation of tasks associated with contract management. It minimizes human errors so that your contracts are consistent, accurate, and adhere to industry standards.
It also ensures contract compliance, as the software monitors for deviations from agreed terms or regulatory standards.
Improved collaboration and communication
Construction contract administration software enhances collaboration and communication among:
- Team members.
- Contractors.
- Other parties.
It provides a centralized platform where all stakeholders can access, review, and update information in real time.
The best part is that with integrated CRM systems, companies maintain better relationships with their customers.
Increased visibility to contracts and project status
With this software, users can monitor and evaluate the status of their jobs and contracts in real time. This increases visibility to contracts and project status, helping you stay on budget and meet delivery timelines.
Key features of construction contract management systems
Security and access control options
The best contract administration system offers secure access control, letting you set rights and only authorize specific users to view or change contract details. This protects the quality and safety of your data, ensuring that you meet data protection obligations.
Template library and customization tools
Good construction contract administration software offers template library and customization tools. Its predefined templates and forms mean that you don’t have to create contracts from scratch.
If a one-size-fits-all approach doesn’t work, you can modify these templates or create a customizable one to fit your unique business needs.
Versioning and audit trails
Good software offers document version control so that all stakeholders can track and review previous versions to promote clarity.
It also maintains audit trails, capturing details like who made changes, when, and why. This is crucial for accountability, especially during internal reviews or when facing legal challenges.
Compliance tracking and reporting tools
This software manages contract life-cycle through reporting compliance metrics. It helps in ensuring that your team meets all obligations to regulate the documentation process.
Whether it’s ensuring adherence to safety standards or specific contractual terms, these tools drive compliance and provide real-time insights through reports.
Predictive analytics and automated workflows
A good contract administration solution enables predictive analytics and uses past and current data to forecast potential changes in the project.
It also facilitates automated workflows, ensuring seamless transitions, minimizing manual interventions. This increases efficiency and reduces the risk of errors, ensuring that projects stay on track.
Real-time monitoring and performance tracking
The software provides real-time tracking of project performance, helping you analyze and plan accordingly.
It also evaluates progress against set benchmarks or goals. This lets you implement timely strategies so that your projects stay on track and within budget.
Sourcing, negotiation, and bid management
The right software simplifies contract sourcing to make it easier to choose the best contractors for each job. It stores and analyzes data from previous contractors or suppliers to inform future projects.
An effective software also supports contract negotiations. Then, it streamlines bid management, evaluating and comparing proposals from different contractors to select the best partner.
The best contract management software for construction
Method
Method CRM is the top CRM choice for QuickBooks and Xero users. It offers a totally customizable experience for efficiency.
With Method, you can track leads with ease. And its automatic two-way sync with QuickBooks and Xero means that once those leads become customers, you never have to worry about double-data entry.
What’s more, this solution provides advanced automation tools that rival other platforms.
Features
- Powerful, two-way sync with QuickBooks or Xero.
- Real-time updates on your payments, invoices, and more.
- Customizable templates to implement contracts, and produce reports.
- Simplified document management system to efficiently automate your workflows.
- Mobile project management app to stay connected on the field.
- Ability to customize your entire solution down to your logo, with support for every project.
- 360-degree view of past interactions and transactions.
Limitations
- Method is currently only available in English.
- The software is limited to QuickBooks and Xero users.
Pricing
Method offers the following three pricing plans:
- Contact Management: $25 per user per month.
- CRM Pro: $44 per user per month.
- CRM Enterprise: $74 per user per month.
Method also offers a free trial with no credit card required. Get started today!
EasyBuild
Image credit: The Access Group
EasyBuild is a comprehensive construction contract administration software for projects of all sizes. It provides online access to your team so they always have the most up-to-date information on every job.
Features
- Financial management tools, including live cost control and tracking.
- Real-time financial dashboards and project analytics.
- It is integrated with risk management features for insights into project pitfalls.
- Mobile access for on-site updates and real-time data entry.
Limitations
- The interface is overwhelming for new users.
- Not ideal for small projects due to its extensive features.
Pricing
EasyBuild doesn’t include pricing information on their website. You can contact the company for a custom quote.
Spitfire
Image credit: Software Advice
The next product on our list is Spitfire, an advanced construction contract administration software for managing projects, documents, and images.
Features
- Document control system that ensures all paperwork is organized and accessible.
- Detailed budgeting tools with forecasting capabilities.
- Smooth integration with popular software like DocuSign to simplify processes.
- Secure access and RBAC to set user permissions.
Limitations
- Customization options are limited.
- Does not offer much training or support for new or less tech-savvy users.
Pricing
SpitFire does not include their pricing information on their website, but you can reach out to them for this information.
LB GenieBelt
Image credit: Lets Build
Features
- Real-time project visuals to help you supervise and report site progress.
- Task automation and dynamic scheduling tools to help oversee employees.
- Resource leveling tools to minimize risks around your resources,
- Notifications for request updates and sign-offs.
- Built-in collaboration tools and text-based conversations on live Gantt charts.
Limitations
- Not all of the features on the desktop version are configurable for mobile.
- Limited offline functionality.
- Does not offer enough customization for individual clients’ needs.
Pricing
LB GenieBelt doesn’t display pricing information on its webpage, but you can contact the company for a personalized price.
Explorer Eclipse
Image credit: Software Advice
Explorer Eclipse is another top construction contract administration software that focuses on analytics.
Features
- Efficient inventory and equipment management system.
- Dashboard and report customization to monitor your most important metrics.
- Integrations with payroll and job cost modules for up-to-date data.
- Comprehensive full-text search that lets you find digital documents effortlessly.
Limitations
- Has a steeper learning curve compared to competitors.
- The support team is slow to respond.
Pricing
Explorer Eclipse does not share pricing information on its website, but you can contact them for a quote and a free demo.
Decoding the cost of contract management software
The price of construction contract administration software varies widely. The costs of each program depend on things like:
- The number of people using the software.
- The range of features you need.
- Integration capabilities.
- The size of your projects.
Additionally, pricing models, such as subscription-based versus one-time licenses, also impact your costs. It’s crucial to evaluate your requirements and test products out with a free trial before you invest in them.
Key takeaways
Construction contract administration software is essential for managing your construction contracts, especially as you grow. It improves efficiency and reduces risk to simplify your workflows overall.
Key features to look for include:
- Integration capability.
- A robust set of features.
- Customization options with support.
Frequently asked questions (FAQs)
What is the main difference between regular and construction-specific contract management software?
Regular contract management software focuses on general contract needs like document storage and general workflow automation.
On the other hand, construction-specific software includes features tailored to construction field requirements. It helps with:
- Project milestones.
- Compliance with building codes.
- Passing safety inspections.
How does construction contract administration software enhance project efficiency?
Construction contract administration software simplifies various processes, from documentation to communication. It ensures that you use all resources optimally to complete projects within your budget and time frame.
What should be my primary considerations while selecting a construction contract management system?
Here are some primary considerations to keep in mind while selecting a construction management system. Look for a solution that:
- Offers a good range of features.
- Integrates with other business systems.
- Provides customer support services.
- Comes with a cost-effective pricing model.
Step up your contract game with a free trial of Method.
Image credit: cherryandbees via Adobe Stock
