In an industry as competitive as the construction sector, it’s important to keep expenses low so that you’re able to compete on price as well as quality. Of course, minimising expenses is often more easily said than done, particularly when managing other vital aspects of a firm’s accounts. We’ve picked out five of the most onerous overheads confronting successful modern construction firms – could you save your company thousands of pounds every year by addressing these expenses?
For many firms, a generic piece of accounting software will suffice. The matter of tracking incomings and outgoings is a simple procedure; products and services have a set value and cost, employees are consistent from one month to the next and it is easier to estimate the end-cost of a project on commencement. Sadly, the same cannot be said for the world of construction.
As providers of construction-specific accounting software, we’re often given the chance to witness innovations in the construction world when they are still in their early stages. Recently, we have played witness to a number of small revolutions affecting the ways in which accounts within the construction industry are managed.
The full launch of Real Time Information (RTI) started at 6am on Saturday 6 April. Since then over 70,000 Pay As You Earn (PAYE) returns have been submitted and HMRC say businesses should not be worried about the changes.
Mansell Finishes Ltd, users of Evolution construction accounting software from Integrity are celebrating after winning the 'Commercial Drylining - under £1 million' category at the FPDC Plaisterers' Awards 2012.
In a drive to prepare our customers for the introduction of the new RTI Payroll system from HMRC, Integrity Software are entering the final leg of a UK based Training Workshop Programme.
Whilst the financial investment required by a construction business to change accounting systems remains a key consideration, it’s the perceived disruption caused by the change which is now the largest reason businesses avoid a change to their accounting system.
You didn’t take the decision to upgrade your accounting software lightly – but you’ve decided to take the plunge and upgrade your old system now that it’s begun to show signs of age.
It took you some time to search through your options and collect recommendations from friends in the industry, but you’ve finally chosen your new software provider and you’re looking forward to the upgrade.
However, there’s a final hurdle to overcome before you can start seeing your software’s benefits: the implementation stage. This crucial period defines how successful the switch is: will it go smoothly and without a hitch, or turn into a disaster that damages your business?
These tips will help you achieve the first outcome.
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