What We Built in 2023 So Far: Using Data to Modernize Commercial Construction
We're excited to highlight a suite of significant enhancements and updates for Relay as well as some commercial updates about the company. Our latest features have been designed to empower both Owners and General Contractors, centering on the themes of improved data accuracy, heightened transparency, and increased collaboration by tying in your project data in a common data environment.
Read on to learn more about:
- New Features in Relay
- Commercial Updates
- Relay Roadmap
Accurate, Current, 1,000,000+ Contact Subcontractor Database [link to blog post]
Access Relay’s expansive new subcontractor database, differentiated from others with a proprietary data cleaning algorithm and MSWBE/HUB certifications. Use Relay’s system to source, invite, communicate, and award bids, while also centrally collecting information to rate your subcontractors to improve your future experience.
Integrate Cost and Schedule [IMAGE; link to blog post]
Align cost and schedule data through a project’s lifecycle to gain a comprehensive view of project performance and to proactively manage risks and resource allocation.
Automatically Resource and Cost Load a Master Project Schedule
Improved functionality to pull plan scheduling files from 3rd party sources to aggregate master project schedule with automatic resource and cost loading.
Cash Flow Forecasting [IMAGE]
Use resource-loaded cost and schedule with productivity feeds to formulaically forecast cash flows while maintaining the ability to adjust forecasts manually. For the first time ever, truly link preconstruction estimates with actual delivery data to eliminate time-consuming reconciliation projects at closeout.
Link Budgets with Actuals to Track Variances
Enable cost engineering the real-time ability to flag and describe progress of actuals against budget.
Request and track approvals from management or clients in-app. A Relay client reduced owner pushback on change orders to zero due to the transparency available in system.
Improvements to Project Analytics with Historical Project Charting
Project analytics now include historical charting and filtering capabilities to enable you to track benchmarks on specific variables.
Additional Updates for Improved Experience and Data Accuracy:
· Customizable reporting for individual users
· Improvements to data upload features to allow users to bulk import estimating data easily
· Delivery guides/checklists for third-party users
· Closer integrations with third-party ERPs to tie resource forecasting and project needs, including Viewpoint and NetSuite
We have expanded our team to help us effectively modernize project controls and serve our customers.
Wendy Barnard has joined us as VP of Customer Success. We distinguish ourselves from our competition with competent, efficient, personal implementation and customer support. Wendy has extensive experience delivering capital projects, including work in project controls, finance, audit and project management. We are very excited to have her on our team; her commitment to her customers combined with her focus to add value and solve challenging business problems is unparalleled.
Simultaneously, we have steadily increased our user base. With over $2.5B worth of estimates created in Relay and boasting users from both some of the largest and then much smaller contractors in the U.S., we are excited for the industry’s warm and broad reception to Relay.
In the second half of this year, we are working hard to enhance our functionality to serve your project controls needs thoroughly and intuitively. Tasks on our roadmap include:
· Enhancing our UIUX to make Relay the most intuitive and easy-to-implement product on the market
· Adding additional benchmarking capability to reduce your time to generate conceptual estimates
· Linking resource forecasting across projects to be portfolio-wide
· Adding Advanced Work Packaging support