Product News

Now, ServiceTrade customers can benefit from higher visibility into project performance and gain the real-time insights they need to manage costs.

November 15, 2022 – ServiceTrade is announcing Project Management, a game-changing new capability to centralize and manage critical project management workflows.

For service contractors, many projects struggle to generate meaningful profits due to reactive processes where cost overruns are identified too late, change orders aren’t communicated to customers promptly, and the lack of real-time data burdens tech productivity.

Against this backdrop, project teams are leaning more toward visibility and collaboration tools to improve delivery. In fact, new research shows that mechanical contractors that do more proactive work and on-budget projects grow 122% faster than their peers that focus on reactive, service-call-oriented, and project work.

Yet many project managers still toil away on spreadsheets, rely on accounting systems that focus only on accuracy over real-time insights, or buy construction-centric tools that are too large, expensive, and administratively burdensome for their needs.

“Every commercial contractor wants to balance growth with profitability, yet most rely on siloed systems and reactive processes that focus on one engagement at a time at the cost of building long-term value for their client, “ said Billy Marshall, the CEO of ServiceTrade. “That’s why we created Project Management—providing higher visibility into project performance and delivering real-time insights commercial contractors need to manage costs and exceed customer expectations.”

Project Management Highlights

With Project Management, every contractor who sells budgeted projects alongside maintenance and inspection services now has a centralized customer operations platform to deliver long-term value to their customers from installation to invoice.

Project Performance Reporting is at the heart of Project Management. This dashboard goes beyond the financials to provide real-time, real-world insights about everything from budgets, change orders, progress billing, and live technician updates.

With Project Management –

Deliver projects on budget and track with a unified view of financial and operational progress. With Project Management, it’s easier to catch issues before they become cost overruns.

Keep everyone up to speed, from finance to project managers to the field techs delivering the work. With Project Management, real-time data equals better decision-making.

Operate flexibly. Project Management seamlessly integrates with ServiceTrade, so your front office team and techs have a single platform for all their work.

For Example –

• A mechanical contractor can easily manage upgrading and replacing multiple rooftop units on an office building with numerous phases and milestone billing.
• A fire and life safety contractor can tightly control their costs on extensive, multi-week inspections, so they don’t blow their budgeted labor costs.
• An electrical contractor can quickly identify issues in the routine maintenance of a large generator system, quote the repair, and manage the budgeted scope all in one platform.

Feature Availability

Project Management is built natively on ServiceTrade’s platform, and select features are available today for all users on their Premium and Enterprise plans.

Feature List

• Detailed (or discrete) cost tracking – Available now
• Realtime progress reporting – Available now
• Budget Management – Q1, 2023
• Change Orders – Q1, 2023
• Progress Billing – Q1, 2023
• Project Performance Reporting – Q1, 2023

Learn more at servicetrade.com/project-management