We are pleased to announce our first Sage Intacct User Forum. Now that you are using Sage Intacct Construction, we want you to stay up-to-date on its features and functions.
This first User Forum session will highlight what’s new in the 2023 R3 release. There are some exciting features in store for you that focus on ease of use, extended functionality, and control. We will discuss the latest features and upgrades now available.
Join us for this webinar to be sure to get the most out of your Sage Intacct software.
This webinar demonstrates how migrating to Sage Intacct Construction can improve your business performance. We will walk you through some of the key differentiators between the legacy Sage Construction systems and the next-generation cloud-based system – Sage Intacct for Construction.
During this session, attendees will not only see how moving to the cloud can save you money by eliminating the on-premise costs but also time with powerful reporting tools and dashboards.
With Sage Intacct Construction, you get:
During this session we will review 5 ways that Sage Intacct Construction can save you not only time, but money. Attendees will learn how to create personalized dashboards with drill down capability, run consolidation reports and more, all while being on a true cloud-based platform.
With Sage Intacct Construction, you get:
If you’re considering making the move to a next-generation solution, we invite you to join us for this informative session.
Retain the people you need to drive financial and project success when you combine Arcoro and Sage
With material and bid prices decreasing and infrastructure spending accelerating, the construction outlook for 2023 remains positive. Companies that are nimble, tech savvy and strategically focused are continuing to implement productivity increasing software to find better profitability and operational scale to account for persistent workforce shortage.
With open construction jobs surpassing 2019 levels, contractors are doing what they can to combat workforce issues and grow engagement with HR technology. Better learning, training and performance management tools lead to higher retention and easier compliance.
Join Sage and our partner Arcoro to learn how integrating your accounting software with HR technology can help you retain the people you need to drive financial and project success.
During this Lunch N’ Learn you’ll learn more about:
Stay for the whole session and lunch is on us!
Why is real-time data so important in today’s construction industry?
In today’s fast-paced construction industry, a modern financial management system will almost always mean cloud-based financials. It’s tempting to put off change, to stay with the systems that your teams are comfortable with using. However, that approach may come with some risk. As systems become outdated, they require investment – time, money and skill – to maintain. Internal teams may not be connected and working with real-time information, management is unable to make decisions with accurate data.
To stay competitive, construction and real estate companies’ technology strategies are evolving. The real-time data trend has been studied by industry leaders, which is telling for the future. Forward-thinking businesses are architecting a modern technology strategy that includes cloud accounting financials. A recent Deloitte study discusses both these technology strategies and other construction industry trends to keep on your radar.
Here are my top three signs it’s time to move to cloud-based financials:
It’s hard to overstate the importance of real-time data access that you’ll find in cloud-based financials. One single source of truth gives people in the office and field the ability to view job costing, tools and equipment allocations and overall project status updates. Quick and easy reporting makes it much less likely that you’d miss warning signs that a project is losing money or going to take longer than projected.
Contractors who adopt a cloud-based platform that meets all their needs report that they immediately see improvements in workflows and communication. These forward-thinking business leaders have recognized the risk of delaying change and the advantages that a cloud financial system brings to their business.
Aktion Associates has teams of experts who understand the construction industry’s unique demands. We are ready to review your business needs and determine which cloud platform will fit you best. One popular and powerful choice among our customers is Sage Intacct Construction. Because Sage Intacct was born in the cloud, the accessibility and scalability are unrivaled in the construction industry.
Contact us today to begin your journey towards cloud-based financials, real-time data and position your company for growth.
The use of data can help secure the best construction project results. Construction is a complex process. Managing each project well requires access to large amounts of information. Smart leaders know exactly what kinds of data they need so they can see what is working and what is not. They know how to capture that data and analyze it, in pieces and as an integrated whole. They share that data with the appropriate decision-makers across the business. Armed with that knowledge, those decision-makers can take action to fix problems and get each project back on the path to optimal profitability.
Even as many contractors embrace the power of data, others remain stuck in the past. For example, these firms use manual, paper-based activities to track project governance and risk controls. This approach does not provide analysis and reporting in real-time. Each project may only be reviewed retrospectively, or after the fact.
The three greatest barriers to profitability in construction are financial difficulties, insufficient labor productivity, and improper planning. All three of these issues can be effectively addressed when firms implement and leverage analytics technology. Firms that invest in this technology can stay on top of each project in real-time, enabling leaders to react, course-correct, achieve utmost profitability and produce the best construction project results possible.
Here are a few of the benefits you can reap when you learn to create, store and integrate data:
Want to learn more about how to gain more insight into your operations and deliver your best financial results? An investment in the right technology is the first step. Sage Intacct Construction software is a flexible financial management solution that adapts to your workflows and reporting requirements. It gives you real-time visibility with built-in and adaptable dashboards, reports, graphs, and charts. Multidimensional reporting and dashboards provide faster and deeper insights into accounts, helping your teams work faster and smarter.
You’re welcome to complete Aktion’s Contact Us form to have an industry expert reach out to learn more about the right technology for your construction business.
Tracking the productivity of construction labor takes effort, but when it’s done right, the payoff for contractors is significant. Below you’ll learn more about how contractors gather and act on performance data to reap meaningful gains in profitability.
For many contractors, labor is the biggest cost. That is why so many construction owners devote the time and resources to measure the productivity of every type of labor that goes into a job.
How to Measure Labor Costs:
This will enable you to calculate team performance on each task. Having this data will help you in real time (on each current project), and in the future when you bid for and take on new jobs.
The Importance of Job Costing Visibility
On each project, job costing provides visibility into how labor productivity measures up to the estimated budget, and helps you identify areas that need attention. Here’s another real-time bonus to productivity tracking: when an unforeseen event occurs, such as a pandemic or disruptive weather, you have the data you need to make your case for a change order.
Once you have a storehouse of reliable productivity data, that data becomes an asset for every future project you bid on. Your data will inform every facet of your business. It will give you a benchmark for estimating, budgeting, and scheduling, as well as for performance-based bonus programs. Each step in the process relies on the prior one: estimating informs your budgeting, scheduling, and then labor on the job. Your data can make your bids more competitive – and insulate your profits.
In Summary
An investment in the right construction technology is step one in mastering how to track your labor productivity. If you have just recently started looking at your software options, Sage Intacct Construction software is a flexible financial management solution that adapts to your workflows and reporting requirements. This next-gen cloud platform gives you real-time visibility with built-in and adaptable dashboards, reports, graphs, and charts. Multidimensional reporting and dashboards provide faster and deeper insights into accounts, helping to save hours per month.
You can learn more about how to avoid unexpected cash flow issues by governing your spending against a budget here. Interested in learning more about using data to maximize your profitability, job after job? Take the first step by talking with Aktion Associates to find the best technology solution for your unique needs.
Welcome to Aktion! With the acquisition of United Solutions by Aktion Associates, we all want to assure you as previous USI customers that all of your Sage software sales and support needs will continue to be met. Aktion has been a Sage partner for over 30 years and has over 45 application consultants and engineers.
Please join us for a live webinar to introduce Aktion as your Sage partner and to discuss the additional resources and opportunities available to you with this acquisition. We also look forward to introducing some of the current Aktion leadership team to you.
More about us: Aktion Associates is a national ERP software reseller and IT infrastructure provider focused on the Architectural Engineering & Construction, Distribution and Manufacturing industries. Since 1979, more than 6,500 customers have chosen Aktion as their technology advisor. With a workforce of more than 200 professionals in application consulting, network and software engineering, these teams utilize proprietary lean implementation processes to help customers realize the value of their IT investment.
Accounting and financials for a construction company brings a unique set of skills and demands to the table. Today’s modern contractors have enough to worry about. But the good news is there are some easy solutions to avoid having to add financial stress to that list. Below, you’ll find a couple of tips to take the stress and worry out of those construction-specific accounting challenges.
Job Costing in Real-Time
Today’s construction site is filled with things that cost money. It might be tempting to try and tally all those job costs and expenses once the project is complete, but it’s only going to open you up for error and hassle – and time, lots and lots of time spent. Labor, equipment and supplies all need to be planned for and accurately tracked. But we’re just talking about one job site here. Most construction companies work on multiple projects at the same time.
Best practice for your modern construction company is to require people to record expenses daily. If you wait and figure out job costs and expenses once a project is done, you’ll find it’s inaccurate and way too time-consuming to figure out. Each job needs to have the costs attributed correctly in real-time. Therefore, you’ll want to give your job site crews the ability to clock in and out remotely and report on tools and equipment used. Suddenly your accounting team back at the office has the ability to see exactly what’s happening on each job site each day.
The Reality of Change Orders
In addition to job costing, change orders are an inevitable reality in construction. Complex construction jobs usually mean that changes will have to be made on the fly. Without a formal change order approval process, you’re opening yourself up to customer contract disputes. Setting realistic expectations with the customer before a project has even started, and securing their approval, is the best way to avoid incurring costs that will come out of your profits. We all know how tight those margins already are, so contracts with the prospect of a change order process can avoid taking on that financial risk.
Technology can again save the day for everyone involved in this ever-changing project. Empower both contractors and the accounting team to see change orders in real time. The approval process happens in minutes rather than days and any additional costs associated with the change order get allocated to the correct job immediately. Software tools should be able to give everyone from your customer to your foreman a clear picture of costs, changes and project progress.
If you’re worried about construction projects that depend upon time-consuming manual entry and physical documentation, it’s a perfect time to look at a comprehensive, cloud solution that connects everyone in real-time from anywhere. There are some excellent choices today for modernizing your construction operations. We’ve found that growth-oriented contractors understand the need for seamlessly reporting everything back to the accounting team. Make life so much easier for your accountants and truly everyone company-wide with the help of one connected platform.
TimberScan Titanium is the most sophisticated solution for easily and automatically routing invoices to the appropriate approver based on your business rules. Developed for seamless integration with Sage Intacct Construction, TimberScan Titanium automates every aspect of the accounts payable process, including data entry, approvals, and reporting – all on a user-friendly and visually appealing interface.
Join us for this webcast to learn how to get more from Sage Intacct Construction today and suit-up for the future. Haven’t migrated to Sage Intacct yet – join us to learn more about how these 2 technology solutions can improve your business processes. A software expert will be presenting and ready to answer any questions you have.
Interested in learning more about TimberScan Titanium before the event? Download the brochure today.