6.20.0 Dynamic forecasting

6.20.0 Dynamic forecasting

What's new?

We're excited to introduce Aspire's new Dynamic Forecasting tool, designed to enhance financial and labor forecasting capabilities. This tool offers a grid-format view of revenue, hours, and materials, featuring role-based permissions for viewing and editing forecasts. Now, you can project monthly forecasts for the upcoming year, including revenue, labor hours, and material spend, while past months remain locked from editing. This tool is tailored to improve planning and optimize resource allocation for long-term construction projects.

Requirements

Role permissions within the System Settings > Administration > User Management > User Roles > Work Tickets section will govern access to the Dynamic Forecasting tool.

• View permission:
  • View Dynamic Forecast
• Edit permission:
  • View Dynamic Forecast
  • Edit Dynamic Forecast

Dynamic Forecasting screen

The Dynamic Forecasting screen is a user-friendly interface for inputting, managing, and analyzing forecast data. It provides a ticket-level dashboard showcasing forecasted revenue, labor hours, and material costs annually. Customizable filters cater to various revenue structures and verticals.

Use the Dynamic Forecasting tool to ensure accuracy and efficiency in Dynamic Forecasting by replacing manual processes with automation. Easily export data to Excel to maintain compatibility with existing workflows, empowering you to conduct further analysis and make informed decisions.

The Dynamic Forecasting screen includes three main grids with independent details: Revenue, Hours, and Materials. Select each view from the corresponding tab in the top menu. Default views include select fields with additional optional fields that you can configure, see the table below for more information.

Next to the search bar, use the year filter to display past, current, or future years.

Each row in the tool represents a single work ticket, focusing solely on work order tickets. Forecasting occurs on an annual basis, displaying 12 months at a time. Select a cell to edit the data. Past months are locked from editing on the first day of the next month when the forecasted values change to actual values.

Columns that are displayed by default in the grid view:

With your cursor over the column headers, choose a menu that displays next to the title to add additional optional fields. 

The following optional fields are available from the vertical menu:

• Left Optional: Property Name
• Right Optional: Actual, Remaining

Select the horizontal menu to configure the column display: choose to pin the column to the left or the right, autosize one or all columns, or reset the column configuration to the tool's default.

Hover over a month to display a tooltip that contains the following information:

• Current Month: Displays an arrow and percent indicating the difference between the actual and forecasted amounts.
• Past Months: Displays an arrow and percent indicating the difference between the actual and forecasted amounts.

Select Export to export data to an Excel spreadsheet. The export includes all columns and all rows, hidden or not. Past months will include forecasted and actual values.

Example

For a work ticket with a price of $10,000, 100 hours, and $3,000 material spend, the forecast for January (25% revenue, 25 hours, $1500 material spend), February (25% revenue, 50 hours, $1500 material spend), and March (50% revenue, 25 hours, no material spend) would be displayed as follows:

• Revenue View: January: $2500, February: $2500, March: $5000
• Hours View: January: 25, February: 50, March: 25
• Materials View: January: $1500, February: $1500