Newforma Konekt Enhances Industry-Leading Cloud-Based AECO Project Information Management Solution with Innovative System for Critical Contract Changes

BOSTON, Sept. 23, 2024 /PRNewswire/ -- Newforma affirms its position as a leader in project information management software with an enhanced version of Newforma Konekt, the first truly collaborative cloud-hosted ecosystem for the architecture, engineering, construction, and owner (AECO) industry.

Newforma Konekt, a comprehensive system for managing all project information, including contractual change approvals, empowers teams to track and document every change clearly and efficiently, while ensuring that all relevant stakeholders have access to the same information. By offering a central platform for communication and documentation, Newforma Konekt reduces the risk of disputes and keeps the project on track, making it easier to handle changes efficiently and effectively.

Newforma Konekt's Contract Change Management system provides a centralized log where all changes and their associated documentation are stored and accessible to stakeholders. This consolidated view allows project managers, contractors, architects, engineers and owners to easily monitor the status of each change request, track its progress and review any related discussions or approvals.

"Managing contract changes can be complex and stressful," said Carl Veillette, chief product officer for Newforma. "A key challenge is ensuring that all parties fully understand and agree on the changes, especially when they involve added time and cost. Without clear communication in scope and thorough approval and workflow documentation, misunderstandings can arise, leading to disputes or even costly legal fees when scope, timing, or cost come into question. Documenting each step of the change management process meticulously, setting the right expectations, and securing the necessary approvals help ensure that everyone, from the general contractor to the architect, is on the same page."

From the moment a change request is initiated, Newforma Konekt's Contract Change Management system provides a standardized and intuitive workflow that guides users through each step, from documenting the proposed change to securing approvals. By reducing the number of manual steps and ensuring that all relevant information is captured in one place, the system minimizes the risk of errors and ensures quick turnaround times so projects stay on track.

By ensuring that every change is fully documented and accessible to all stakeholders, the platform reduces the likelihood of disputes and provides a clear record of what was agreed upon, helping to protect your project from costly litigation.

"One of the biggest risks associated with poorly managed contract changes is the potential for legal disputes," Veillette said. "When changes are not properly documented or when stakeholders are not fully informed of what is being proposed, misunderstandings can lead to conflicts that end up in court. Newforma Konekt helps eliminate this risk by providing a comprehensive system for documenting and tracking every change request, along with all associated approvals and communications."

Newforma will celebrate 20 years at the forefront of AECO information management technology at its annual user conference in Orlando, Florida, Sept. 30-Oct. 3. Industry professionals will converge at Newforma World to discover new ways to use Newforma software, dive deep into industry trends, forge valuable connections with peers and share insights with thought leaders.

For more information about the Newforma Konekt, please visit newforma.com.

To learn more about Newforma World, visit https://www.newformaworld.com/.

About Newforma
Newforma is a leader in Information Management for the architecture, engineering, construction, and owner (AECO) industry. For 20 years, we have empowered professionals to enhance productivity and efficiency by connecting them to vital project information across more than 16.3 million projects globally. Our innovative solutions—available both on-premise and cloud-hosted—facilitate knowledge transfer and ensure clarity, enabling effective collaboration, quality assurance, and improved productivity and profitability. Trusted by over 4.5 million users and 1,500 firms, Newforma provides a comprehensive project record at your fingertips, saving you time and eliminating the headaches of searching for critical information. Discover how your firm can achieve more with Newforma at Newforma.com.

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SOURCE Newforma