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New Touchstone Solution Cures Headaches For Facilities Managers

 

Early visibility of the profitability of contracts need never again be a problem for facilities managers, thanks to Touchstone Contracts Management Solution (CMS), a new product from Touchstone Group, the leading AIM-listed IT provider of integrated business software solutions and consultancy.

Getting good visibility of committed costs, WIP and profitability, as well as managing the contractual relationships with contractors, subcontractors and suppliers can be notoriously complex and troublesome for facilities managers. Built on a Microsoft Dynamics AX platform, Touchstone CMS remedies this age-old problem by providing users with a single, easy-to-use portal from which they can monitor all of their relationships and ensure tight operational and fiscal management.

The suite of tools embedded in CMS allows users to tackle the most complex, multi-level contract structures. For example, the built-in wizards and templates allow users to generate standardised contracts in a negligible amount of time.

Touchstone CMS incorporates management of multiple charge line types, including: stage payments; incidental payments; billing plans; adjustment charges; and charge subtotals. Multiple cost line types are also accounted for, including tight management of hourly costs; subcontractor contract cost structures and summaries.

Billing dilemmas are solved by Touchstone CMS. The solution facilitates multi-level schedules of rates; uplifts; billing plans; and intelligent invoicing whether an automatic or manual consolidation system is being used.

Touchstone CMS can also be linked to specific payroll systems; and manage approvals, rebates, retentions and industry certification and compliance rules.

The at-a-glance reporting function of Touchstone CMS allows users to distil quickly any data necessary – such as profitability, costs and purchases per job – providing a clear overview of in-depth contract operations. This is made possible via dual navigational overview screens and a short-cut system that moves seamlessly through the contract structure, irrespective of how many customers and sites are involved.

Chris Town, Divisional Managing Director, Touchstone Group, comments: “For a long time, lack of visibility and profitability when managing subcontractors and suppliers have made the job of facilities management more difficult and frustrating than it needs to be. Touchstone CMS will resolve this issue. It equips facilities managers with the tools needed to manage subcontractors and suppliers efficiently and cost-effectively, allowing them to concentrate more of their time on other areas of the business.”

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