Currently, the building industry is littered with cases of failed businesses. The industry is consistently ranked as having one of the highest rates of insolvencies in Australia, with the construction industry accounting for up to 24 per cent of all Australian company insolvencies every year. Many of the businesses appeared profitable on paper right up until the time they were forced to close. Typically these businesses failed to understand the true cost to complete projects and the true cash position of their projects. They also had no reliable system in place to manage cash flow, and to identify and manage financial risk.
For over 30 years, many leading construction companies have used MULI to run their projects-and the financial side of their business. MULI is a Project Risk, Accounting & Process Management Software package that provides a clear understanding of both short-term liquidity and long-term profitability, leaving the Construction Manager and the CFO in no doubt as to the financial status of each project and the company as a whole. MULI’s customers range from start-ups to major firms with turnover in excess of $600m and over 500 employees.
Ron Skeoch, a professional Quantity Surveyor with over 10 years of major project experience with Lend Lease, founded MULI as a Design and Construct Building business three decades ago. Today, as one of Australia’s leading Project Risk, Accounting & Process Management Software packages, MULI spends half a million dollars annually on software development, taking into account industry developments and feedback from its clients.
Ron explains, “Common accounting packages, or worse still multiple sets of standalone documents, spreadsheets and databases, simply just don’t meet the needs of today’s Construction Managers.
”MULI eliminates the need for multiple standalone word documents, templates, spreadsheets and databases, providing the Project Manager with an integrated suite of software applications to enable tighter control of the project from estimation to completion.
MULI provides its user with an integrated tool to:
• Manage a variety of contracts, both Lump Sum and Cost Plus, and the small ones in between,
• Identify and manage all project and business related expenses,
• Automatic produce all Contractual documents (Purchase Orders, Certificates, Payment Advices, Variations, etc.),
• Manage retentions for sub-contractors,
• Manage variations to Scope of Works,
• Manage compliance with the Security of Payments Act,
• Conduct continuous Project Reviews, dynamically comparing Budgeted to Committed Costs and more.
What MULI’s Customers Say
Graphite Projects is a specialist commercial outfit and refurbishment head contractor, established in Sydney in 2012.
Upon establishing the business, Graphite’s Directors’ priority was to have a robust system in place that would not only enable them to manage the delivery of multiple projects concurrently and but also be utilised to run the financial side of the business as well.
As a new business focused on spending as little start-up capital as possible, there was a temptation to utilise a number of spreadsheets for project delivery and a simple accounting package for the business. It was immediately apparent that this was a short term solution and we would potentially expose the shareholders to unnecessary financial risk. For Graphite the decision was easy, as the owners had used MULI previously for close to 20 years and knew what a great package it was. “I wouldn’t hesitate to recommend MULI as a strong consideration to any head contracting business” Joe Fusca, Managing Director, Graphite Projects Pty Limited.