Construction Firms: It’s time to let go of your legacy accounting systems
Construction and commercial real estate development professionals know that the right equipment is key to a successful project – and ultimately to the long-term health of a company. It is a given they would never use a shovel for a job that calls for a backhoe. Yet many practitioners continue to use legacy accounting systems, hanging onto decades-old technology and relying on guesstimated costs, delayed communication with the field and, ultimately, loss of project profitability while their peers step up to the new generation of cloud-based solutions. Does this sound familiar? If so, it is time for a change. Today’s best enterprise resource planning (ERP) systems – with software designed specifically for the construction industry – can help companies increase margins and tighten project control from estimating through closeout – handling the full range of project and accounting management needs, providing real-time views, and consolidating data in one complete back-office system. They also deliver seamless integration of multiple processes – including job costing, contracts, change orders, document management, compliance, retainage, inventory and customer management. And they make all this available on any device, wherever and whenever it is needed.