Since 2020, SRC has used Bauwise to monitor project budget fulfilment with high levels of customisation, integrated cost invoice processing and accounting.
For SRC, delivering marine and offshore retrofit, repair and EPCI projects means working across diverse scopes, services and asset types — where cost structures vary from project to project. The level of project complexity and portfolio scale required budget fulfilment monitoring to be adaptable, easy to use, and tied directly to actual costs through integrated invoicing and accounting.
SRC chose Bauwise for its flexibility and fit with project-based budget fulfilment monitoring that can be fully customised to match the structure of each project, while integrated cost invoice processing makes real cost allocation straightforward without requiring manual reconciliation. The seamless copy-paste between Bauwise and Excel allows team members to move data in both directions. While the API connection with SRC’s accounting software was available “out-of-the-box” with only minimal case-specific implementation.
Flexible, customisable budget fulfilment monitoring across €110 Million portfolio of over 850 projects
Actual project costs captured directly through integrated cost invoice processing — no manual reconciliation required
API connection with accounting software with minimal case-specific implementation effort
Countries
Worldwide
Operating since
2001
Firm type
Marine and offshore retrofit, repair and EPCI contractor
Industry
Shipbuilding, Marine & Offshore
Webpage
SRC specialises in marine and offshore repair, retrofit, EPCI projects and developing new technologies, with 25 years of experience and more than 5,000 completed projects worldwide. The group has offices in Estonia, Italy, Norway, and the Netherlands, supported by sales functions in Singapore and the United States, and is capable of mobilising up to around 1,000 personnel per project. SRC delivers repairs, retrofits, specialised short lead time conversions, and complex tailored conversions, including in remote and challenging locations.
Bauwise equips construction CEOs with an automated cost management tool to maintain financial control, efficiency, and profitability across expanding portfolios. The cost management software links budgets, forecasts, contracts, and purchase orders in one system, enforcing approval workflows that preserve budget integrity and accuracy. Chief Executive Officers gain real-time visibility into consolidated portfolio performance, safeguarding project continuity, automating reporting, and simplifying construction portfolio management.
Bauwise provides an automated cost management solution for construction CFOs to obtain timely, verified financial data for cash flow and refinancing decisions. The software consolidates construction budgets, contracts, purchase orders, change orders, invoices, and Applications for Payment into a unified data source, ensuring all figures are validated, traceable, and audit-ready before reaching financial statements. Chief Financial Officers can track contingency budgets and risk reserves, gain visibility into liquidity, flag budget overruns early, and forecast portfolio-level cash flow.
Bauwise helps Construction Managers and Division Managers ensure all construction project costs are reported and accounted for, using an automated construction cost management tool. The software tracks linked budgets, contracts, purchase orders, and change orders, so every commitment is recorded, allocated, and tied to the correct project and cost code. Construction and Division Managers can leverage automated purchase invoice and Application for Payment validation rules with audit trails, compare planned versus actual costs in real time, and monitor division-level performance across projects.
Bauwise supports Construction Quantity Surveyors with an automated cost management solution to plan and manage full cycle construction costs — from forecasting and tendering to variation valuations and reporting. The software reconciles interim valuations, change orders, and actual costs in real time, updating forecasts and Estimate at Completion (EAC) automatically once costs are approved. It generates RFQs and tender packages, standardizes bids formats, and applies approval workflows. Links approved variations to their related contracts and cost codes, calculating their budget, commitments and EAC impact.
We’ve got your questions covered. If you can’t find the answer you’re looking for below, feel free to contact us.
Yes. You can import existing budgets, commitments, and actuals into Bauwise and pick up from where the project currently stands. Our team will support you in mapping the data and configuring the platform to match your ongoing workflows—no need to start from scratch. This enables you to continue the project without delays or the need to manually rework existing data.
Yes. We support flexible coding systems that allow you to import budgets using several options, including basic copy and pasting, as well as Excel and CSV file uploads.
Yes. We support integrations with major accounting systems like Microsoft Dynamics 365 Business Central, Odoo, SAP, QuickBooks, Xero, and more. Our team has vast integration experience and can suggest options even for less common tools. We’ll review your accounting software setup to confirm the feasibility and configure the best-fit integration.
Yes. You don’t need to integrate an accounting system to use Bauwise. You can upload your general ledger transactions using an Excel spreadsheet—just drag and drop, and Bauwise will automatically link actuals to your budget, or take advantage of Bauwise’s invoice approval workflow, which generates the transactions internally from submitted invoices.
Yes. Bauwise enables you to split any project into multiple subprojects—by construction phase, client budget, buildings, or cost categories—while maintaining a comprehensive and unified project dashboard. Bauwise consolidated dashboard displays cost forecasts, profitability, actuals, construction progress, and margin deviations across all subprojects.
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