Are you considering switching from your on-premise Sage 300 CRE to the next-generation platform – Sage Intacct Construction?
With its advanced features, customizable options, and user-friendly interface, Sage Intacct for Construction offers a solution that can streamline processes, increase efficiency, and provide valuable insights into your business.
During this upcoming webinar, you will discover why more and more Sage 300 CRE users are switching to Sage Intacct and the benefits they are gaining from it!
With Sage Intacct Construction, you get:
To learn more about this next-generation solution, we invite you to join our April 16th webinar.
In the ever-evolving construction industry landscape, large multi-entity developers face a unique set of challenges. Managing the financial intricacies of projects spanning multiple entities, each with its own set of variables and complexities can be overwhelming. The ability to seamlessly integrate and manage these diverse financial aspects is vital for the success and growth of any large-scale developer. This is where Sage Intacct Construction comes in, providing efficiency and clarity in multi-entity financial management.
Sage Intacct Construction is not just any financial management tool; it is a comprehensive native cloud financial and project management solution designed specifically for the needs of the construction and real estate industry. It addresses the core challenges of large developers by providing a unified platform for multi-entity financial management and reporting. In this blog, we will dive into how Sage Intacct Construction tackles these challenges, transforming and streamlining operations. By offering real-time insights into each project’s financial health to simplifying complex intercompany transactions, Sage Intacct Construction stands as a pivotal innovation in the realm of construction financial management.
Centralized Financial Management
Sage Intacct Construction provides a solution that enables the integration of financial data from different entities within an organization into a single system. This centralization simplifies the management of finances and ensures consistency in reporting and analysis. By consolidating data, such as expenses, revenues, and financial statements, companies obtain a comprehensive financial overview, eliminating the need for separate accounting systems for each entity.
Automated Intercompany Transactions
Sage Intacct Construction automates intercompany transactions, streamlining processes like intercompany billing, fund transfers, elimination entries, and expense allocations. This automation significantly reduces the manual effort and potential for errors associated with these complex transactions.
Real-Time Reporting and Insights
With all financial data consolidated in one place, Sage Intacct Construction provides real-time visibility into the financial health of the organization. Immediate access to financial information is vital for making timely and informed decisions. Through interactive dashboards, management can quickly evaluate the profitability of different projects or entities, enabling them to allocate financial and people resources more efficiently.
Compliance and Regulatory Reporting
Sage Intacct Construction stays updated with the latest regulatory changes and provides tools to ensure compliance. It facilitates accurate and compliant financial reporting, crucial for multi-entity developers operating under various regulations.
Custom Dashboards and Analytics
With Sage Intacct Construction, you have the power to tailor your dashboards and analytics to meet your exact requirements. You can effortlessly generate reports and dashboards that are perfectly aligned with your specific needs, unlocking deeper insights into the performance of each entity. This will give you a comprehensive understanding of your business’s strengths and areas for improvement.
Enhanced Collaboration Across Entities
Sage Intacct Construction acts as a centralized hub for all communication and data sharing, which is particularly crucial in the construction sector where multiple teams and entities often work in tandem. This centralized approach ensures that all stakeholders, from project managers to finance teams, to subcontractors, to suppliers, have a common platform for collaborating, reducing the likelihood of miscommunication and information silos.
Scalability and Adaptability
As development companies grow, the complexity and volume of their intercompany transactions also increase. Sage Intacct Construction’s automated systems are scalable, meaning they can handle an increasing number of transactions without a proportional increase in manual work or complexity. This scalability ensures that financial management remains efficient regardless of company growth.
Developers are experiencing a new level of efficiency and gaining valuable insights with Sage Intacct Construction. As a result, they are more confident in addressing their challenges and making strategic decisions, which is leading to unprecedented growth and profitability. Experience the transformative power of Sage Intacct Construction today and unlock a future of unlimited possibilities.
To stay competitive, construction companies must stay on top of their financial management. As your company grows, it may be time to consider upgrading to Sage Intacct Construction – Sage’s next-gen technology solution.
Join us for our upcoming webinar to learn why you could benefit from migrating from your current solution to Sage Intacct Construction.
With Sage Intacct Construction you get:
If you’re considering making the move, please join us on March 19th for this live demo.
Sage Intacct Construction is an advanced cloud-based financial management system designed specifically for the construction industry and trusted by General Contractors of all sizes. It offers comprehensive financial reports and analytics, empowering contractors to make well-informed decisions, effectively manage costs, and improve overall project profitability through real-time visibility and control over the financial aspects of construction projects.
Key features include project accounting, job costing, payroll management, and compliance management.
Join us for a webinar to explore the advantages it can bring to your organization:
If you’re considering making the move to a next-generation solution, we invite you to join us for this informative session.
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.
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.