10 signs the time has come for a new construction accounting system
Most construction businesses select a basic accounting software program when they first launch operations. At that point, it is a good choice – affordable, and easy to set up and use. And the software may even have limited functionality specifically designed for the industry. But there comes a time in the lifecycle of every growing contractor and developer when that “standard” accounting product is simply not enough – a time when a full Enterprise Resource Planning platform (ERP) makes sense. Here are 10 common signs that your business is ready for a full ERP system. 1. Your company has become multiple entities. There are many reasons why your corporate structure may need to become more complex. For example, a developer that manages its own properties may want to track projects as separate entities during construction and after build-out. Your business software should accommodate multiple entities while still providing an overall view of your business finances. 2. You need to manage customer relationships more closely.