fbpx

Published August 24, 2022 . 3 mins read

ProNovos and REDW Bring Practical Analytics to Construction Contractors in the Southwest

Partnership between analytics provider ProNovos and advisory and accounting firm REDW focuses on using automated dashboards and reports to drive higher contractor performance

News

FOR IMMEDIATE RELEASE

ATLANTA and ALBUQUERQUE, NM (08/23/22) — A construction analytics partnership between ProNovos and REDW LLC will help contractors across the Southwest overcome pain points and boost productivity, the companies announced.

As part of the strategic agreement, Atlanta-based ProNovos will make its construction-specific analytics solutions available to the contractor clients of Albuquerque-based REDW—one of the largest business advisory and certified public accounting firms in the Southwest.

Consistent with the firm’s commitment to bringing cost-effective, user-friendly digital and technology solutions to its clients, REDW has made an investment in ProNovos—a fast-growing startup incubated at Atlanta Tech Village. The company will also advise its contractor clients on the benefits of using such tools to access real-time insights into company and project performance. ProNovos solutions include executive and WIP dashboards as well as automated reports in areas such as labor hours, sales, billings, change orders, projected final cost, AP/AR and more.

“Generally, our contractor clients have made good progress on technology by rolling out industry-specific accounting software and project-management tools,” noted REDW Principal Dean Willingham (CPA, CCIFP®, CGMA). “However, we continue to see mid-sized companies manually extract data from Microsoft Excel. It’s a labor-intensive and time-consuming approach that can lead to decision-making based on stale and/or inaccurate information.”

By contrast, tools such as ProNovos’ executive and WIP dashboards put real-time accounting data in one place, empowering executives to track trends and PMs to improve the accuracy and speed of their cost-to-complete forecasting, said Bruce Orr, founder and Chief Data Scientist of ProNovos.

Dean Willingham, REDW Principal

“Analytical tools have a track record of saving contractors time and money,” he explained. “You can see at a glance what’s happening with job profitability, billings, labor hours, change-orders and other important information. It’s why we’re so excited about bringing data-driven innovations to REDW’s diverse roster of construction-industry clients.”

The partnership also is perfectly consistent with REDW’s commitment to serving the construction sector and acting as a one-stop-shop for contractors, Orr added. “REDW’s clients can access a truly impressive array of advisory services in areas such as assurance, taxation, HR and compensation, valuation and M&A transactions, wealth, retirement plans and accounting software implementation and training,” Orr noted. “That means REDW clients don’t have to establish and maintain separate relationships with specialty firms in each of these varied disciplines—a distinct competitive advantage.”

In much the same way, analytical tools simplify contractors’ lives. “You’re integrating useful company and project data into one cloud-based platform that is accessible anywhere, anytime,” Orr said. “Whether in the office or the field, users no longer have to master four or six different pieces of software, all opened and closed separately, and all with different logins and passwords. It’s the digital equivalent of a one-stop-shop.”

Bruce Orr, ProNovos

The rapidly accelerating pace of the construction business and the continued persistence of pain points related to workforce shortages, supply-chain bottlenecks and high materials costs make efficiency even more imperative, noted Steve Cogan, REDW Managing Principal. “This partnership will advance REDW’s mission of bringing relief by offering cost-effective, cutting-edge tools to our clients in the high-pressure construction industry,” Cogan said. “Rather than looking in the rearview mirror, they’ll be able to use accurate, real-time information to manage forward.”

Steve Cogan, REDW Managing Principal

PRESS CONTACTS

At ProNovos: pr@pronovos.com; Bruce Orr, bruce@pronovos.com, (678) 908-0087.

At REDW: Gabriel Tevrizian, Director of Marketing, GTevrizian@redw.com, (602) 730-3608.

ABOUT PRONOVOS

ProNovos provides cloud-based business intelligence solutions and services that empower contractors to find new opportunities, make better decisions, save money and reduce risk. Founded in 2014, the Atlanta-based operations-management and data-analytics firm focuses exclusively on the specific needs of the construction industry. This actionable intelligence is accessible anywhere, anytime by superintendents, project managers, accountants, estimators, c-suite executives and other decision-makers. For more on ProNovos, visit ProNovos.com.

ABOUT REDWLLC

Founded in 1953, REDW is one of the Southwest’s top 10 largest advisory and accounting firms and the 112th largest in the US (2022 IPA Top 500 Firms Annual Survey). From our Albuquerque, Phoenix and Oklahoma City offices, our nearly 250 professionals serve the accounting, advisory and wealth management needs of a wide range of clients, both regionally and nationally, including mid-market businesses, construction & real estate, technology, healthcare, hospitality, state & local government, tribes and tribal enterprises, and high net worth individuals. REDW also offers expanded services and expertise as an independent member of the BDO Alliance USA. We take pride in attracting top talent from across the country who see our firm and the Southwest as a place where they can grow both personally and professionally. For more information, visit redw.com, linkedin.com/company/redw, or twitter.com/redwllc.

Related articles

How the CPA Uses the Jobs in Process and Closed Jobs Schedules

How the CPA Uses the Jobs in Process and Closed Jobs Schedules
The Significance of WIP Reports for Bankers

The Significance of WIP Reports for Bankers
Decoding WIP Reports: The Surety's Perspective on Project Performance

Decoding WIP Reports: The Surety’s Perspective on Project Performance

Ready to dive in?

Get Started Learn More

© 2023 ProNovos Technologies Inc. All rights reserved.