A tale of two contractors
How Switching to Cloud Accounting Can Transform Your Construction Business
Three years ago, on an otherwise normal Wednesday afternoon, two ambitious professionals in the construction industry each quit their jobs in order to start their very own general contractor businesses. Both of them possessed strong leadership skills, had similar industry connections, and enough experience to know what it takes to be successful.
Recently, these business owners ran into each other at an industry conference - 3 years later.
They got to talking about their businesses, and a lot of things seemed alike. Both had built a solid team of employees. Both had worked similarly grueling schedules. And both, it turned out, had secured key contracts in the same market.
But there was a difference. One of them had managed to become a top 50 general contractor in the region. The other had secured the #1 spot in the entire state.
Sage Intacct Construction - What Made The Difference
Have you ever wondered what makes this kind of difference in the trajectory of a general contractor, especially when all things else - like leadership, team building, salesmanship, and customer satisfaction - are considered equal?
Well, the difference actually lies in one simple factor: the ability to access, in real-time, the granular and critical information about your business necessary to make important decisions.
And at this point in the game, it’s no secret that not all information is created equal.
That’s why we’re writing to you, as well as other general and specialty contractors, about the cloud-based Sage Intacct Construction accounting system. Because that’s what Sage Intacct Construction is all about: to create a constantly-improving ecosystem that provides accountants, project managers, and CFOs with the real-time insights necessary to track, manage, and build your business in ways that have never been possible before.
1. An Unmatched Financial Management System
See, the AICPA-preferred Sage Intacct Construction platform has nothing to do with the standard on-premise accounting solutions of the past.
It’s a modern cloud platform with rock solid financial care. 3rd party providers are no longer necessary as everything can be done natively. Integration capabilities have been greatly enhanced, with the ability to tap into 100’s of other Line of Business applications so that you - the customer - can choose what works best for you.
With a sleek design and user interface, it’s easy to learn and use right out the gate. You have top level consolidated reporting, and when any transaction takes place, you see it roll up - in real time.
With “Dashboards”, you’re able to pull in information across the entire platform, and consolidate it all in one place (and each employee can have their own version). From there, you can drill down as deep as necessary, and into any value you prefer, which makes slicing and dicing data a breeze. You can even drill down on projects and commitments, giving you the tools you need to report data out, consolidate the information, and put it in the hands of the people that need it.
2. AI and Machine Learning
Plus, Intacct Construction is now utilizing AI and machine learning technologies for audit trailing and tracking. For example, Intacct is able to evaluate transactions and alert you, in real-time, to possible outliers. It’s like tapping into the capabilities of your auditor’s own software, and giving you power to use it in real-time as you approve your own transactions.
In fact, Intacct’s plan is to roll AI-powered features out for all subledgers and modules in order to give you the peace of mind that it’s always working to keep track and alert you of any potential anomalies in your business.
Significant Rollouts To The Cloud - And Your Construction Business
Now, all of these features and benefits touch on something even more important. It’s the single factor that we believe makes Sage Intacct Construction stand out from any other financial management system.
See, unlike on-premise systems that provide new releases and updates every few years…Sage Intacct Construction is able to roll out significant upgrades to the system every 3 months.
Instead of upgrading your financial system every few years, it’s happening every 90 days…and these improvements have a domino effect on the success of your own business.
Just imagine the direct impact this would have on your business if you chose to take advantage of it.
Imagine the ability to get regular updates to your financial management system that allow you to make more agile and better decisions, in real-time.
And imagine being able to do all that, with an on-cloud application that requires no upfront investment in hardware, no maintenance, and no cost to upgrade.
Sage Intacct Construction - An Investment In Your Future
So about those two general contractors mentioned in the beginning of this article...
They started their businesses at the same time, operated in the same market, and had the same work ethic and intelligence.
So what made the difference?
But it’s not just “information” in the general sense. It’s information that’s granular. Information that can update in real-time. Information that you can drill down into, slice and dice, and visualize in ways that are uniquely relevant to your business’s needs.
Of course, no measure of success can be guaranteed with any financial management system, and Sage Intacct Construction is no exception. After all, success is a measure of those who use the right tools to make critical decisions for their business.
But one guarantee can easily be made with respect to Sage Intacct Construction: it will provide a financial management ecosystem that, when used to its fullest extent, can transform your business.
Make the Switch to Sage Intacct and Get Total Control of Your Project Financial Management
When you make the switch to Sage Intacct, you can expect to cut your close time in half each month. Finance teams typically see a productivity boost of 40 percent or more. And with Sockeye support, you’ll always have a trusted partner by your side making sure your software is helping you stay proactive and maximize your profitability.Contact us for a one-on-one personalized demo today.
How A Sage Intacct Cloud Accounting Upgrade Saved A Construction Company 20 Hours A Month In Forced Downtime
Delta Constructors, a self-performing construction company operating across 3 different regions in North America, recently upgraded their aging accounting system to Sage Intacct Construction Cloud Accounting.