The February 16, 2024 Product Updates for RedTeam Flex focus on time-saving usability enhancements. Among others, we’ve made updates to the financial report filters, accounting integrations and vendor quotes.
- Save time managing vendor quotes. With new options for creating vendor commitments from bid packages and converting quotes to vendor changes.
- Increase transparency for project owners and reduce errors with the new SOV-type filter option for key financial reports.
- Save time and increase efficiency with the updates to employee expense approval processes.
- Create efficiencies and optimize workflows for back-office teams with the latest Sage 100 Contractor integration update.
- ...and more.
Vendor quotes updates
Available as of January 18: We’ve made some additional efficiency enhancements to the way you manage vendor quotes in RedTeam Flex. You can now: preload the bid package quote into a vendor commitment; create a vendor commitment from a bid package quote; and convert a quote to a vendor change.
Who benefits most from this update?
Anyone who manages vendor quotes and / or creates vendor commitments or vendor changes.
Why would you use it?
Save time, increase efficiency and reduce the risk of manual errors by pulling in bid package quotes into vendor commitments and vendor changes. The bid package quote will automatically build out the ‘Products & Services’ of the vendor commitment or vendor change. Since bid packages may contain several cost codes, you’re able to generate multiple vendor commitments from the same bid package.
Additional Information
To learn more about how to use bid packages, bid leveling and how to convert bid package quotes into vendor commitments and vendor changes, check out our help article.
Note that in order to use bid packages and bid leveling in RedTeam Flex, you have to upgrade your preconstruction functionality. Please contact your Client Success Manager for assistance in doing so.
Report updates include filters for SOV type
Now available: Late last year we added the option to build out custom Schedule of Values (“SOV”) types, including things like General Conditions. To continue to drive efficiency and transparency for those of you who elect to ‘Link SOV to Budget’ during project setup, you’ll notice the option to filter the Actual Costs, Negotiated Costs and Indicated Outcome reports based on the SOV types and filters you select.
Who benefits most from this update?
Anyone who manages reporting for project owners, particularly those who are running Construction Management at Risk (CMAR) projects.
Why would you use it?
You can save time, increase efficiency and reduce the risk of manual errors by filtering the Actual Costs, Negotiated Rates and Indicated Outcome reports to include specific SOV types. This allows general contractors the freedom and flexibility to be transparent with project owners about project costs, while keeping the details of their internal administration costs private. Rather than creating these reports outside of RedTeam Flex or exporting and manipulating them, you can generate owner-facing reports by simply filtering the reports already available in your project.
Additional Information
To learn more about how to run Construction Management at Risk projects in RedTeam Flex and how to generate an Indicated Outcome report, check out our help article.
Note that in order to use the new report filters and manage CMAR projects in RedTeam Flex, you’ll need to select the ‘Link SOV to Budget’ option in Project Preferences.
Employee expenses updates
Now available: Employee expenses can be easily and efficiently entered and managed through RedTeam Flex on the web and via the RedTeam Flex mobile application. Now you can save time while routing your expenses for approval by selecting multiple expense items to route at one time. We’ve also included a new ‘Inbox’ column in employee Expenses that displays who the expense is currently assigned to for approval and provides and easy-to-use way to quickly view the status of unapproved expenses.
New option to select multiple expenses to Route
New ‘Inbox’ column in employee Expenses
Who benefits most from this update?
Anyone who creates employee expenses in RedTeam Flex and needs to route them for approval.
Why would you use it?
You can create employee expenses related to projects or overhead. If you create multiple expense items during a particular period and require them to be routed for approval, this option saves you time by increasing the efficiency with which you can route them for approval. The new ‘Inbox’ column makes it easier for you to see at a glance the status of all of your expense items.
Additional Information
To learn more about managing employee expenses in RedTeam Flex, check out our help articles: Manage Expense Authorizations and employee expenses; Entering expenses on the RedTeam Flex mobile app; and Configure Approvals Workflow.
Note that in order to have the option to route overhead expenses for approval, the employee’s profile must have the ‘supervisor’ field filled out. Expense approvals require configuration of approvals workflows in Company Configuration.
RedTeam Flex sends employee expenses to QuickBooks Online and Sage Intacct via our integrations. If your company uses either of these accounting solutions and you’ve not yet integrated them with your RedTeam Flex database, please reach out to your Client Success Manager for guidance.
Sage 100 Contractor integration update
Available since January 26: The newest version of our integration between RedTeam Flex and Sage 100 Contractor now supports all cost types, including Labor, Material, Subcontract, Equipment and Other. Each cost type may be mapped to a unique set of Cost of Goods Sold (COGS) accounts by Company Division. The prior version of our integration only supported Material and Subcontract. The update streamlines operations and saves time, while reducing error-prone manual processes.
Who benefits most from this update?
Accounting teams and Operations teams who enter vendor invoices and track project costs. Project costs in RedTeam Flex and Sage 100 Contractor will more fully align based on cost types.
Additional Information
To learn more about managing vendor invoices in RedTeam Flex, check out our help article. To learn more about properly configuring control accounts, company divisions and how vendor commitments and invoices are managed for those using the RedTeam Flex Sage 100 Contractor integration, check out our help article.
Link SOV to Budget warning message for In Progress projects
Now available: If you have an existing project for which you decide to turn on the option to ‘Link SOV to Budget’ a warning message has been added to make the implications more clear. If any existing Schedule of Values (SOV) exists for the Original scope or change orders, they will be deleted if the option is activated.
Usability enhancements for TeamPlayer for RedTeam Flex
Vendor invoice management updates
We’ve updated the logic for suggesting sequential invoice numbers in TeamPlayer. Previously when a TeamPlayer invoice was rejected in RedTeam Flex, the suggested number in TeamPlayer was altered and didn’t match the correct sequence, causing potential issues with vendor invoice tracking. Invoice numbers had to be manually updated to match for the general contractor and the subcontractor. With this update, we make it easier and more efficient to use TeamPlayer for vendor invoice management. We’ve eliminated the need for the general contractor to manually update invoice numbers by ensuring the numbering follows the correct format for rejected invoices.
We made updates to ensure that vendor invoices in ‘Draft’ status that hadn’t been submitted for approval are updating with new executed change order SOV lines. TeamPlayer now automatically updates and refreshes the data in draft invoices to include all new changes in the SOV lines for newly executed change orders. Previously the newly executed change order SOV lines were not automatically updated in draft invoices. This update makes it easier to expedite approval of vendor payments to get vendors paid and keep work progressing on site.
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