Projected to grow by 3.7% by the end of 2022, the construction industry is evolving, and it doesn’t look like it will slow down anytime soon. In a fast-moving industry, it’s vital your company has the right financial processes in place so that you can keep up with the ever-changing modern world.
Sage 300 CRE and Sage 100 Contractor have always been popular financial management solutions for construction companies. However, what worked in the past isn’t keeping up with today’s digital world. Keep reading to understand the benefits of cloud accounting software and why Sage Intacct for construction may be a good fit for your business.
What is Cloud Accounting Software?
Cloud accounting software can be accessed anywhere with an internet connection. With cloud software, you store your files and documents on a server. This eliminates the need to use specific software on your work computer.
True cloud accounting software isn’t Windows PC software. True cloud accounting software has been built to operate within your internet browser and is designed to use from any connected device. Beware of legacy software systems posing as “cloud” using problematic remote access software. Sage Intacct Construction is true cloud accounting software.
Sage Intacct Construction: An Overview
Sage Intacct was created for the construction industry. This software emphasizes ease of use and streamlines accounting management.
With document control and automation of accounts payable, you have more time to manage your team and projects. Sage Intacct for construction allows you to create workflows for your documents. It also enables easy retrieval, storage, and routing.
Up until this point, construction financial management software was solidly planted in the 1990’s. All the commonly used systems can trace their base platform to that era, and as a result, they are all constrained by the limits of that aging infrastructure. Sage has eliminated the technical bottleneck with Sage Intacct for Construction, bringing to the industry the most highly rated, cloud-based, natively mobile modern software platform.
Benefits of Using Sage Intacct Construction Software
While there are many benefits to using Sage Intacct, we’ll outline a few of the most important ones below. Sage Intacct can help your construction business to streamline its operations. These improvements range from productivity increases to efficiency.
A Modern Platform Set for Growth
Sage now offers a path for the digital transformation of the construction industry. Many leading businesses of all types are racing toward a digital transformation within their companies. Construction especially has had few avenues available for growth, until now.
Streamlined Financial Management Solution
You can manage your financial and accounting operations with Sage Intacct. It has the ability to create workflows and processes. Streamlined operations lead to lower costs, increased productivity, improved compliance, and reduced errors.
You’ll have increased visibility and real-time recordkeeping with this cloud solution. Furthermore, your construction company can only improve with the implementation of Sage Intacct.
Automation
Intacct allows you to automate document routing. This will reduce the time spent trying to move documents from person to person. It also will increase efficiency.
Audit Readiness
Clear document routing and management lead to a more audit-ready company. You can maintain compliance with various document requirements. With centralized and real-time documents, you’ll always be prepared for surprise audits.
Slashed Costs
With so much time reduced and efficiency across your financials, and minimized IT infrastructure needs, you will save costs. Saved costs lead to more profit on your projects! You’ll have lower technology, hardware, and IT spending.
New Ways to Access Critical Data
Want insight into job profitability but you’re home and it’s the weekend? No problem, just pick up your phone or tablet, go to the app and get what you need.
Paperless Environment
A paperless environment is easier to control and manage. How many times have you lost an important document and rushed around to find it? Or missed a signature because you thought someone else got it?
Sage Intacct will streamline your documents, so these situations never happen again.
Sage Intacct Features
With so many accounting software options out there, it’s essential to compare the features that they offer. Sage Intacct allows you to manage the following:
- Accounts payable
- Accounts receivable
- Purchasing
- Assets
- Allocations
- Budgets
- Invoicing
- Cash
- General ledger
- Job cost
- Revenue
- Time and expense
- Spend
You can submit documents for approval or signatures to team members of all levels. You can set return dates, track files sent out, and view the status at any time.
Sage Intacct also has high-security measures in place, so your information is always protected. You can even establish document-level security measures, so team members only have access to the documents they need to see.
The days of having several spreadsheets, many files, and a filing cabinet full of documents are over. Keep reading for a few more reasons to understand why Sage is the accounting software provider your company needs.
Real-Time and Transparent Reporting
One of the best benefits of Intacct is the reporting and dashboard feature. This allows for real-time visibility and reporting metrics. Not only can this feature help you to forecast costs more accurately, but it also improves decision-making.
Insight into metrics can lead to better performance. Your financial reporting will also be automated, so you’ll save a lot of time each month when it’s time for month-end closing.
Accounting for Small and Medium-Sized Businesses
A modernized approach to accounting will benefit your company greatly. Companies that can’t keep up with technological changes will get left in the dark. Not to mention, using manual processes (filing, spreadsheets) can lead to many more errors.
Errors mean losing money or clients. Why risk it when there’s a cloud financial management solution that can help eliminate human errors?
100% Document Control
A paperless environment leads to 100% document control. Not only does this increase paperwork accuracy, but it also eliminates document theft. With Sage Intacct, you no longer need to worry about lost paperwork.
Your team will also benefit because you can search documents by keywords. No more time is lost digging through paperwork to find the one document you already have.
What’s more, is that you can capture and upload documents in many different ways. Sage Intacct makes it seamless to manage your documents.
Easy Integration with Other Applications
Sage Intacct allows you to integrate with many applications. These include banking institutions, customer relationship management systems, payroll, and project management. This will lead to more accurate reporting. If you already own Sage legacy systems, such as Sage 300 CRE or Sage 100 Contractor, making the transition is seamless when you upgrade to Intacct.
Get Started with Sage Intacct Construction Software Today
Are you ready to make the change? Are streamlined processes and document control what your construction company needs? Is Sage Intacct the right accounting software for your construction business? Get in touch with Bangert today to learn more!