Is remote work here to stay? The pandemic has pushed many companies into remote work scenarios, whether they were ready or not! Now, as companies begin to plan for a post-pandemic world, the key question is: "How much of this remote work scenario should we keep?" There are certainly efficiencies and benefits to remote work, but we also know there are costs.a The answer for many companies will likely be a hybrid model. A balance of remote...Read More
The decision to seek new construction accounting software, particularly for contractors moving up from QuickBooks or Peachtree, is generally driven by the complexity of operations. As your company grows, you require additional functionality with more detailed reporting, particularly in the areas of project management and job costing. This functionality and reporting is vital for analyzing data and making better decisions. Growth also drives...Read More
For small start-up contractors, entry level accounting software programs such as QuickBooks Pro or Peachtree are useful tools. However, as work volumes build, these systems become less useful for construction accounting. By the time a contractor reaches $5M or more in annual revenues, financial reporting needs begin to outgrow the capabilities of these programs. From a construction accounting perspective, entry level software is problematic...Read More
One question that many construction company owners and managers ask me is: "Should our project management software be integrated with our accounting and document management programs?" My answer is always a resounding, “Without a doubt!” To understand my response, let’s look at the role of accounting software in the construction firm. Simply stated, construction accounting software handles the financial aspect of managing construction pro...Read More
To remain profitable while staying competitive, many construction companies are turning to business intelligence tools to optimize the management of their projects. Two of these tools are Key Performance Indicators (KPIs) and Dashboards. KPIs are measurements, or metrics, that are used to quantify your company’s performance in a variety of areas. KPIs can be financial or non-financial and indicate whether your company is meeting its goals. ...Read More
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