Processes today greatly differ from the past. Throughout history, technology has made tedious and wasteful work processes easier. It has changed how people in every industry perform their job. This has increased productivity in the workplace exponentially – construction companies included.
Part of every successful construction company is an accounting software. These technologies assist people in the industry with payroll, procurement, and other functions. A streamlined process can be assured when you have proper accounting software such as the following:
SAP S/4HANA Finance
SAP S/4HANA Finance combines the textbook accounting principles with the modern day cloud computing. With this software, you can automate your accounting processes, real-time forecasting, control-systems monitoring, and reports so business owners can spend more time analyzing financial business performance and making decisions, rather than pencil pushing. Since the features of SAP S/4HANA has to offer are vast and deep, which can go from finance, procurement, supply chain, manufacturing, that pricing is highly customized to suit each individual business’s needs.
Quickbooks take on cloud accounting is a bit simpler and more generic. It takes the bare-essentials of accounting principles and related processes, such as managing payrolls, inventory tracking, sales tracking, bills managing, tax, etc. This software’s advantage is mainly in its price position, which goes form 6 SGD/month to 12 SGD/ month. Definitely good for start-ups that have simple processes and are looking for a out-of-the-box accounting system that is easy to implement.
While this software does not address the whole finance aspect, it is recommended and specifically designed for construction firms, QuickMeasure OnScreen is an affordable software that can help manage processes and estimations, which greatly influence the financial performance of a construction company. It is designed by Tally Systems to help construction managers, engineers, contractors, as well as home builders speed up the cost estimation process of a project by digitizing their takeoffs through CAD file integration, and 2D takeoffs. One of its key advantages is compatibility to other job estimation software.
FreshBooks is considered to be one of the finance and leading accounting software leading globally. With its core functions – auditing, time tracking, invoicing, and reporting – it can ease tasks of people in the Philippine construction industry. It also has time and expense tracking tools that can help create accurate invoices. What sets apart FreshBooks from the other softwares in this list is its emphasis on collaboration feature. Project records created can be shared to not only colleagues but also the client to keep everyone up to speed. It even has mobile implementation, making it an accessible tool every firm needs.
Suitable for all small and medium-sized construction companies, Sage 50cloud is a robust online software that can organize management of finances. It has built-in best practices in accounting that can safeguard accuracy of data. One of its unique features is its ability to connect with your bank account. With this feature, you do not have to spend more time re-keying payments and reconciliation. It can also be seamlessly integrated to Office 365. This will enable you to maximize and work more efficiently through the cloud. So if your company is already using Office 365, then Sage 50cloud is a big plus.
Availing an accounting software is not as easy as picking your groceries. It has to have all that you need to help you in increasing your company and its employees’ productivity. Don’t forget to consider the features that you would need before purchasing. If possible and available, always test out its demo to make sure it fits the needs of your processes.