Built for construction
Posts covering best practices, trends, and insights.
Building Sage Intacct Construction
How small is too small for construction software?
When it comes to construction reporting, timing is everything -- the closer you are to real- time reporting, the better your opportunities to respond to emerging project issues. Success in the construction industry is dependent on timely, accurate reporting that gives you a wide-angle view of your operations with zoom-in capabilities. As a construction owner or manager, how can you consistently make good decisions without real-time reporting? If you are using QuickBooks or Sage 50 for your accounting, you are likely using Excel or some other stand-alone solution to track your projects, resulting in decisions based on outdated, inaccurate data. These decisions could result in significant project issues which could break your company.
Construction-specific software makes it easier than ever to make informed, timely business decisions. Getting the financial big picture is no longer a big hassle -- and no detail escapes you because all details are integrated in a central system with a single source of project data truth.
You can keep key project personnel in the loop by capturing and sharing valuable site-specific data; and that information is accessible even when you’re not in the office, keeping you more in touch, and more in control, than you’ve ever been before. How improved would your decision making be if you had accurate, timely information at your fingertips whenever you wanted it? How long can your business survive when project cost overruns occur due to your inability to respond to issues as they are happening?
Current construction-specific software solutions are able to provide real-time reporting that can make or break your construction business. Sage 100 Contractor is one construction-specific solution that features user dashboards, custom alerts, and over 1,200 built-in reports. It gives you that complete wide-angle view of your operations with drill-down, zoom-in capabilities to the details.
Many companies are continuing to use generic accounting software such as QuickBooks and Sage 50 (Simply Accounting) for their construction and Oil & Gas services operations. These systems are a good starting point for many start-ups, but they can only handle very basic project costing and don’t offer any project management functionality. Even with the many third party add-on project solutions you are missing critical integration and project management components. With these generic systems you are running your projects like driving using only the rear-view mirror. You are always looking back at revenue and costs that can be months old. Service/Project management is the backbone of every contractor’s business. You must have a single accounting/project management system that’s capable of meeting all your crucial specific needs to be effective.
Is there too much back-and-forth miscommunication between your project team members? Is project and services reporting always available with timely information about your projects? Generic software simply can’t handle these issues without developing spreadsheets; or using third party applications which require manual double entry to handle the weaknesses.
Sage 100 Contractor is an easy to use construction-specific accounting solution that can perform all of your advanced construction accounting requirements as well as manage your operations. Sage 100 Contractor can give you the confidence you need to run your business, and your projects effectively and accurately. Why continue to use generic systems when there are specific construction and service solutions available? Your best option, which will likely improve profitability, might be to throw out your current generic software and move to something built specifically for your industry.
How many hours do we all spend looking for documents that we desperately need? How many countless dollars have we wasted on administration maintaining paper-based document systems? Document Management technology can solve many of these problems and save significant administration costs. Paperless office might seem difficult and a time-consuming task to move over to electronic format; the reality is that the value paperless provides in terms of time and cost savings far outweighs the initial costs and implementation time associated with changing procedures.
For construction businesses, you would gain control over your project documents with an easy way to store, retrieve, and route documents electronically throughout your business. You can automate your project routing and approval workflow processes to the correct individuals to improve communications on all jobs. Think of a document system where you can access all your project documents anytime, anywhere; including contracts, certificates of insurance, drawings, invoices and more. Think of the time and energy that you will be saving.
All businesses have documents, the way they store and retrieve these documents can be the difference between dominating their industry or falling short on customer service and ultimately letting work walk out the door. These same document management systems can link to your all your accounting transactions, such as purchasing and sales. You can manage invoices and other critical documents with efficiency and confidence.
We may not be able to completely get away from paper, but it is in our best interest to reduce the paper as much as possible. Both economically and environmentally.