Goal: Improve visibility and eliminate blind spots in project financials
For General Contractor, Build Group, rapid growth necessitated a better change order process to ensure they had complete visibility into their project financials.
Change Order Challenge
Before using Extracker, Build Group leveraged Procore’s financial tools to keep track of all project costs, but they were still collecting Change Order Requests (CORs) using email before uploading them into Procore’s system. This presented a challenge in financial forecasting because there was no way of knowing that all COR costs were entered in Procore and forecasted to the customer without manually requesting individual COR logs from each Subcontractor.
After receiving COR logs from each subcontractor, Project Managers were tasked with cross checking what had been entered into Procore. This manual, error-prone process wasted thousands of hours and left them vulnerable to surprise cost impacts or overruns.
"By mandating Extracker across all of our projects, we have eliminated the inefficiency and risk in forecasting and collecting our subcontractor change orders.”
VP of Operations
After learning their gap in financial visibility could be solved with such an easy tool, BuildGroup went all in on Extracker. Extracker is the only Change Order Communication platform that digitizes, streamlines, and automates Change Orders, providing General Contractors with an up-to-date COR log and complete real time visibility into financial exposure.
Integrating with Procore
Build Group uses the integration to push Subcontractor Change Order Requests directly into Procore, removing a time consuming step in their Change Order process and reducing processing time by 65%. But the real benefit is their risk reduction when it comes to collecting and forecasting project CORs. By pushing Extracker sent or received CORs into Procore, Build Group can see exactly what CORs are included in Procore financials and which ones have not yet been forecasted.
This insight instantly shows whether project financial forecasts done in Procore actually contains all of the Change Orders they have either sent or received.
Financial forecast meetings are now much easier. Teams will open their forecast in Procore and quickly access each Subcontractor’s real-time COR log in Extracker to catch any risk not yet identified in their forecast.
Before Extracker, this meant requesting an updated COR log from each Subcontractor and cross-checking each one. BuildGroup has been able to identify multiple 6-figure discrepancies proactively before they ever become an issue.