This week we take a look at how Acumatica Construction Edition is vital to mid-large sized general contractors, home builders and subcontractors to keep their projects on schedule and on budget. We’ve put together a list of a few of the must-read articles on this subject and different examples of how this solution can increase margins, tighten project control from estimating to closeout and keep information secure.
Improve Your Bottom Line: Cloud Construction Accounting Software
Acumatica ERP software comes in a Construction Edition with highly specialized construction accounting features. Here’s a great list of the features Acumatica Construction Edition has that make it uniquely tailored to meet the needs of businesses in this industry.
This solution can provide significantly better business insights and improve overall efficiency through its cloud computing capability. Acumatica Cloud ERP software allows you to equip staff and subcontractors with secure, private apps for specialized needs, changes, time entry and electronic signatures— all accessible from anywhere on mobile phones and tablets. Using the software, you can check dashboards on your computer or mobile device for revenue, costs and commitments. This end-to-end cloud construction ERP system allows you to exchange information with customers, suppliers and specialty applications such as Smartsheet, Procore and Hyphen Solutions. Acumatica gives construction businesses real-time visibility wherever they build, effectively improving margins and project control at all stages.
Keep Data Secure: Data Privacy & Security in the Cloud
Cyber attacks and data theft are increasing within our business world – construction professionals are no exception. An astounding 87% of employees who leave a company take with them data they created on the job; 28% steal data created by others. This stolen and shared date can include presentations, strategy documents, customer lists, proprietary calculations, intellectual property and other areas which differentiate you from competitors.
There is a common misconception that cloud computing software results in less data privacy and security. Surprisingly, the opposite is true. Consider a client list which is stored in an excel file – it can be duplicated, emailed and endless copies made. However, with a cloud-based system, Acumatica has the ability to shut off access to all information (including client lists) from a single interface. Acumatica was built from the ground with security in mind. With the right data handling practices within a business and strong data encryption techniques within the Acumatica software, data is more secure in the cloud construction ERP.
Manage Uncertainty: Project Management, Contracting & Budgeting Tools
Pricing uncertainty is one of the biggest risk factors in the construction industry. When creating estimates for projects you want to find the sweet spot between giving a competitive price to land the job while also making a profit. This is incredibly hard to do as costs fluctuate often in the industry – whether it be material or gas/diesel or labour costs. This article outlines key ways to safeguard your business profit against material and labor price variability. To support construction companies in managing uncertainty, Acumatica’s cloud ERP technology has comprehensive and effective project management, contracting and budgeting tools.
For example, Acumatica job costing offers a robust range of features, from flexible cost structures and approval workflows to budgets, inventory and accounts payable tools. Features like these give general contractors, homebuilders and subcontractors real-time visibility so they can manage multiple projects while also keeping a close eye on the financial health of their business.
Interested in how Acumatica’s ERP software could benefit your business? Reach out to our team to find out more!