5 Key Reasons to Use Construction Accounting Software
Our construction accounting software is built specifically for the needs of the construction industry and is designed to improve efficiency throughout all areas of the business.
Based on the specialist requirements of a construction business, it becomes difficult to use generic accounting software. Your construction business needs accounting software that is tailored to these specific needs, including the CIS scheme, subcontractors, retentions and more.
Read on to discover the 5 key reasons your business should be using construction accounting software:
1. Reporting and Analytics
The reporting and analytic functions are the backbone of any great piece of accounting software, particularly when it comes to construction accounting. By using our construction accounting software Evolution Mx, creating your own custom reports has never been easier.
Configurable dashboard views also make key information and real-time data easily accessible. With the option of using graphs, charts and tiles to display this data, monitoring your contract KPIs has been made quicker and simple.
2. Reduces risk
By using construction accounting software all members of the team (that have been granted access) can share project information and data that is always up to date. This removes the need for multiple, standalone spreadsheets that are often outdated, unsecure and can lead to errors.
Our software Evolution Mx can be configured to alert users when a project may be going over budget, and by having this information easily accessible it can reduce financial risk for the company.
Another way that risk is removed by using construction accounting software, is thanks to the inclusion of built-in CIS accounting functionality. By using a software that has a direct link to HMRC’s portal, subcontractors can easily be verified and all their relevant documentation can be stored. This reduces the risk of using subcontractors that are no longer insured and can help the company stay compliant with regulations.
3. Full integration
One benefit of using fully integrated construction accounting software such as Evolution Mx, is the ability to streamline the range of different processes the company has to use.
As Evolution Mx covers everything from payroll to contract management, subcontractors to retentions, and more, having everything all in one place boosts efficiency and ensures all information is easy to access.
And the integration doesn’t end there; our construction-specific accounting software is also integrated with Microsoft Office, allowing you to export data to Excel and email documents from the system using Outlook seamlessly.
4. Remote accessibility
Construction accounting software allows your team to access real-time, up to date information from anywhere, providing they have an internet connection. This is a perfect solution for when your team are working remotely or out of the office, allowing them to gain access to the information they require easily.
Being able to log in at any time from a remote setting may also boost efficiency within your team, as employees may be more productive outside of traditional office hours.
Based on the four reasons previously discussed, it’s clear to see how much time using construction accounting software can save by having all your construction accounting processes integrated into one, single easy to use system.
This makes information and data much easier and quicker to manage. Construction accounting software allows your company to save time whilst also reducing risk and improving efficiency so it’s a win-win!
Book your demo today
Our software Evolution Mx is a powerful construction management and financial accounting solution that caters to all the niche requirements of the construction industry, plus much more.
Why not switch to using our construction accounting software to make your business more efficient, productive, and profitable. To find out more information about our construction accounting software book your free demo today.
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