I have been attending the SLA (Strategic Leadership Association) retreats for years now.  Each one has given me some new tools and techniques to better my business. The topics are always something useful to the business world but not why I attend.  I attend because of the wealth of knowledge in the room at each retreat.  The room is filled with business owners and managers that have a combined knowledge far greater than anything I could have imagined.  Being able to hear how they have improved their businesses, what has worked, what hasn’t worked and where they plan to get to in the future and how they will get there has been immeasurable in terms of value.

When you were starting out in business you needed an easy to use and functional system to handle your basic accounting requirements. QuickBooks or Sage 50 was likely the solution to your problem. A well known and supported solution with many good reports to help you move your business forward. The good part was that you did move your construction business forward. The question now; is that same easy to use system still functional enough to handle your growing construction requirements now and into the future? Do you have work arounds and multiple different solutions that data is entered into more than once? Chances are these added processes are costing you and your business time and money.

Do you find that you handle the following outside of QuickBooks or Sage 50 because they can't or do not provide what your business requires?

1. Scheduling jobs and tasks for projects
2. Document control for change orders, subcontractors, etc.
3. Field management for projects
4. Project management controls
5. Service management for small jobs
6. Service dispatch controls for labour and equipment

1. Estimate(s) for multiple levels
2. Parts and assembly tracking with accurate pricing
3. Automated creation of job budgets to compare to actual project costs

1. Tracking of work in progress for management and banking
2. Complete project documentation for bonding
3. Control over subcontractor billings to jobs

1. Dashboard reporting for all project and service jobs
2. Project reporting for under and over billed jobs
3. Project reporting with % complete for tasks and cost codes
4. Equipment tracking of revenue and expenses

If you sit back a moment and consider the costs that these missing functions are having on your business, you will be very surprised. We recently completed a review for a smaller 25 person construction company. The result was a significant $63,000/Year that was being wasted with manual work around processes. These small business accounting solutions are simply not built to handle the requirements of a construction business that has grown and requires more out of a system and solution.

The good part is that there are construction solutions on the market that can handle these requirements, that are easy to use and inexpensive. Sage 100 contractor is one of these such solutions and would be a good option when researching different solution. http://www.asyma.com/sage-100-contractor-master-builder

You owe it to yourself and your business to consider some of the options available.

You are a successful contractor.  You have built your Electrical, HVAC/Mechanical, Residential, General Construction or Heavy Duty Construction business into a reputable and successful business which customers have grown to trust.  However, like many contractors using QuickBooks or Sage 50, you have no clue or somewhat of a clue as to which projects are profitable and which are not.  You also struggle with administrative costs and reliability on project information coming from the field/job site.

You are not alone and technology can help.  We live in a world that offers technology and innovation in almost every aspect of our life.  If you have ever thought, “there has to be a better way” chances are there is.

We see customers struggle with data entry, errors, missed invoicing and not knowing project profitability on a daily basis, because we are also in the construction industry and know what that “better way” is.

Instead of having your technicians/supervisors/project managers manually fill out field tickets and/or timesheets why not have them enter the project information like time, equipment, materials directly into your accounting/project management system from the field?  Do you know or could you estimate the time savings, reduced errors and increased revenue streamlining this process could realize?  Chances are its tens of thousands of dollars every year. 

Are you asking yourself now “it seems there is a better way, I should consider this?”

Then you should consider the solutions and services available. 

My team is holding a complimentary online presentation (webinar) on this topic on Wednesday, January 18^th.  Click Here for more information.

I hope this information helps you uncover ways to utilize technology in your business.

Competition is tough. To win more contracts and ensure project profitability, your estimates need to be more precise than ever – and with Sage 100 Contractor, you can put your best bid forward.

Editor's Note: This post was originally published in September 2014 and has been updated for freshness, accuracy, and comprehensiveness.

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