Is your software scalable? Reasons to upgrade your construction accountancy and cost management software
In short, software scalability is how well your software is able to cope with a growing amount of work - in both the short term, and the long term. In a business sense, having scalable construction accounting software means having a solution that will grow with your business and not hinder that growth.
You’ll know if your software isn’t scalable if it becomes slow and or you’re trying to input lots of rows of data or store large files. You might also find that you need extra functionality and your current system simply can’t do what you want it to do. As your business grows, lack of system scalability becomes a big problem.
As more data and users are added to the system, processes take more time and the risk of errors increases. You might attempt to solve the issue with multiple, disjointed systems but these aren’t real solutions. Look for truly scalable and unified software: a single system that future proofs your company and can deal with the increases in use.
Integrity’s Evolution M is scalable whatever the size of your business, now or in the future. Here’s why you should consider making the switch:
#1 Document management
A central database for documents eliminates the need for physical storage and drastically reduces the chance of losing or misfiling vital documents. As more users access your files, it’s important to have a single system for document management instead of multiple systems that may only be accessed by single users. With Evolution M you can drill down to the documents you need from different ledgers meaning you no longer have to search multiple places for the files you need.
However good your software is, it’s not perfect for you unless you can customise certain parts of it. Evolution M lets you define your own fields and drop-down boxes, so you can use your company terminology within the software. This customisation extends to reports and many other areas of the software
#3 Integration with other software
Although you usually want to keep your data within the software itself, there are some situations where it needs to be straightforward to export your data elsewhere. Perhaps you want to use Word’s mail merge feature to send letters to subcontractors, or you want to email a report to someone who doesn’t have access to the system. Evolution M lets you export data to Excel in a single click, with exporting options also available for Word and Outlook. Data can also be imported from Excel into Evolution M creating a seamless workflow. Data from purchase ledger invoices, timesheets for payroll and subcontractors, sales ledger transactions and contracts can all be brought into the system saving time and effort.
#4 Accuracy and time-saving
Improve the accuracy of your ledgers by using accounting periods and a transaction date on all transactions in every ledger. This removes any incompatibilities between reports and saves significant reconciliation time when balancing your month end accounts. In fact, 90% of Evolution M customers found that the upgrade saved them at least two days each month. Departmentalised accounts can further speed up these processes whilst providing full visibility of every transaction and its impact on the business.
#5 Automatic subcontractor verification
We understand that the construction industry faces plenty of red tape. It’s therefore important to automate processes wherever possible - such as subcontractor CIS300 verification. Find a system that is HMRC approved, such as Evolution M so you can automatically file CIS submissions for your subcontractors. In Ireland the process is different with RCT being applicable and Evolution M caters for both UK and Irish tax systems.
If your accounts and cost management software isn’t scalable, it’s important to act sooner rather than the later - before those temporary bugbears become ever-present headaches. Fore more information about scalable accounting software you can reach out here and book a free demonstration today.