As the construction industry continues to adapt to the new world emerging from the fallout of the pandemic, more companies are realizing the value of connected construction workflow. Connected workflows emphasize automation, integration and transparency. Investing in digital solutions that support connected workflows can help construction companies respond to changes in the market with greater efficiency and success.
Developed to meet the unique needs of both general contractors and real estate developers, Sage Intacct Construction is a solution that can help your teams adopt a more efficient and connected workflow. The cloud-based financial management solution can be accessed from anywhere, including remote workspaces and construction sites. The functionality of Sage Intacct Construction allows your company to track project cost and productivity during the entire lifecycle of a project.
Automated processes in accounts payable and accounts receivable will save your company countless hours by replacing manual data entry and cutting month-end close times by as much as 50 percent. This increased efficiency can help your financial staff focus on big-picture planning, rather than spending every available hour focused on day-to-day operations. Real-time numbers in dashboards and reporting offer detailed insights to guide growth.
The latest developments in Sage Intacct Construction
While Sage Intacct Construction is currently only available to early adopters, those users are providing valuable feedback to help shape its development. Sage Intacct Construction is continuously enhanced to meet the needs of its user base. New features are introduced with each of Intacct’s quarterly releases.
In the first release of 2021, updates for Sage Intacct Construction focused on giving companies more control of their projects with improved reporting options and ways to document project estimates.
More options are now available for company invoices and sales orders. The new functionality allows for purchase orders and invoices to be dollar-driven instead of quantity-driven.
When you have supporting documentation for a project invoice, you can now organize those files automatically. Source documents can be linked to project invoices and included in emailed invoices to provide answers to questions that may arise, helping to make the payments process faster.
Another update that was part of Intacct 2021 Release 1 focused on production units in project estimates. When project estimates are entered, production units can be added at the same time, saving steps and helping companies get a better view of production estimate changes
Additional updates to Sage Intacct Construction
Also in development on the purchasing side is approval support for purchase order changes. Users will have the ability to route a change request, such as a request for additional materials, through the approval process. In this way, permission for the change can be given before it is implemented in the system.
Intacct is known for its outstanding third-party integrations with field, payroll and budgeting solutions. A seamless integration with Procore is in the works for Sage Intacct Construction. Procore is a cloud-based platform that connects all stakeholders through the lifecycle of a project, in the interest of increased visibility and efficiency. Procore’s integration with Sage Intacct Construction will link accounting and project management teams ultimately resulting in enhanced communication and greater access to financial data.
To learn more about how your company could work more effectively with Sage Intacct Construction, schedule a call with one of the experts at RSM today.