Only 56% of construction companies say they use construction management software. One reason companies may avoid using software for their processes is because they don’t know which is best for their company.
Managing financials for construction projects can be overwhelming. However, it’s important that you have a system in place that is reliable and efficient.
If you want to learn more about the differences between the two financial management solutions built for the construction industry, then keep reading.
Sage 100 Contractor vs. Sage Intacct: An Overview
As a contractor or worker in the construction industry, you may be wondering about the difference between an on-premise accounting solution or a cloud-based solution. How is Sage Intacct Construction different than Sage 100 Contractor? Which is the best solution for your business?
We’ve outlined the benefits of each below. Take a look at the differences so you can decide the best option for your organization.
What Is Sage Intacct Construction?
Sage Intacct Construction is a cloud accounting solution. This cloud-based ERP financial management solution is ideal for the construction industry. It offers a host of benefits for users, including:
This cloud-based system allows decision-makers to see real-time visibility into the company’s health. This is important so there is transparency across the organization. It also generates reports quickly and eliminates siloed data.
The interactive dashboards make updating projects and tracking projects and expenses a seamless experience. You can integrate with other applications to enable faster decision-making.
We mentioned previously, only 56% of construction companies use management software that streamlines their business processes. Using Sage Intacct could give you a competitive advantage with its modern workplace. This flexible financial management software sets your business apart with more transparency in how your business is doing.
Accounts Payable and Receivable
With Sage Intacct, you can automate your accounting processes and workflows. This includes accounts payable and receivable, saving your company valuable time.
The accounts receivable option allows you to quickly send invoices through email. This improves your company’s efficiency and saves time. It also gives you accurate sales tax calculations at all times.
Budgeting and Planning
With this software, your team can have a transparent view of the budget process. Everyone will be on the same page, so errors are reduced. You can also create and save multiple scenarios within the budget to improve management practices.
The cloud-based job costing solution gives you key insights into your daily expenses. This feature includes a report writer and the ability to export information to Excel. Making decisions has never been easier than it is with this software.
Do you want more visibility into your procurement process? With the purchasing feature, you get access to predefined and structured transaction and approval workflows.
This means you can set automated workflows throughout the process to improve accuracy, efficiency, and speed.
Time and Expenses
Sage Intacct saves companies 40 hours a month with the time and expenses feature. This is done by using interactive dashboards, real-time visibility, and visualizations. You’ll understand your organization’s financial, cash flow, and project performance better.
Do you want to simplify and accelerate managing fixed assets? Then this software will be a great choice.
It automatically integrates with your general ledger, purchasing, and accounts payable functions to create a seamless system.
To gain better insight into the company’s performance, you can use the allocations management feature. It allows you to allocate the following:
- Indirect costs
- Revenue contributions
- Liability amounts
You can assign these across multiple dimensions, eliminating the need to have several spreadsheets full of information.
What Is Sage 100 Contractor?
Sage 100 Contractor is an on-premises financial management solution. This legacy software was specifically designed for the construction industry. Many companies in the construction industry use Sage 100 Contractor, however, using cloud-based accounting software has proven to be a more efficient solution for those who work from home or even organizations who just want to leverage more modern technology.
If you currently use Sage 100 Contractor, then you’re most likely familiar with some of its main features. Keep reading to see how Sage 100 Contractor’s key features compare to Sage Intacct’s.
It offers a complete accounting suite for construction projects and project accounting. These features are to manage:
- General ledger
- Accounts payable
- Accounts receivable
- Job costs
It also has hundreds of pre-defined financial reports and dashboards that users can customize to their needs.
The scheduling option integrates with estimating and project management features. This makes connecting expenses and timelines to projects as easy as a few clicks.
The performance dashboards allow you to connect to specific projects. This integrated purchasing and contract option makes creating documents easy. You can create and send reports on the platform and send them via Outlook.
However, it’s important to note that Sage 100 Contractor does not have interactive dashboards like Sage Intacct.
Sage 100 Contractor isn’t cloud-based, so tracking information on the go is a little more difficult. It does have a mobile feature to allow this by:
- Collecting time from the field
- Enter daily reports
- Schedule and complete service requests
- Snap photos
You can do these critical daily tasks and more from a phone or tablet with this functionality.