Read the latest news and views on the hot topics affecting the construction industry, along with construction accounting software insights from our expert team.
As the end of the tax year approaches in April, construction companies often find themselves grappling with numerous financial reports, complex project data, and regulatory compliance requirements. However, the advent of specialised construction accounting software has revolutionised the way you can manage finances and navigate tax season. By leveraging advanced features tailored to the industry's unique needs, industry specific software not only streamlines day-to-day operations but also facilitates a smoother tax year end process. Let's delve into how construction accounting software can make this daunting task much more manageable.
Ensuring Compliance and Mitigating Legal Risks: The Case for Construction Companies to Adopt Accounting Software
In this digital age, where technology continues to revolutionise various sectors, construction companies stand to benefit immensely from the adoption of accounting software. Not only does it streamline financial operations, but it also serves as a crucial tool in ensuring compliance and avoiding potential legal entanglements. Here's why construction companies should consider integrating accounting software into their operations.
In the construction industry managing your ordering can be a time-consuming task. As a part of our construction-specific accounting and management solution, our Sales Ordering module is ideal for construction businesses handling stock and speeds up the whole process of stock handling and order management.
It’s time to say goodbye to lost and forgotten paper timesheets and logs, and instead sync time worked directly back to Evolution Mx. Time Portal provides an easy to use cloud-based mobile time entry interface for your employees in the field.
In this competitive landscape, the integration of advanced business analytics tools becomes a game-changer for your business, empowering construction accountants to navigate the intricacies of their role with ease. When thinking about upgrading your accounting solution and making your life easier, you should consider the following benefits that a construction specific accounting solution like Evolution Mx can provide:
In an industry of cutting-edge technologies, it is essential to keep up to date for enhancing efficiency and accuracy in your business. One such technology we have seen making waves in the construction industry is Optical Character Recognition (OCR). In this article, we will explore what OCR is and delve into the ways our enhanced Invoice Registering module, powered by OCR, can significantly benefit construction accountants’ success in 2024.
Travelling the Road Ahead: A Guide for Construction Accountants Switching Construction Accounting Software
In construction accounting, staying ahead of the curve must involve embracing technological advancements. Whether you need to improve performance or replace software coming to the end of its life, switching to a new construction accounting software can be a sound strategic move.
Traditionally, the Goods Received Note has been a manual, time-consuming process involving the physical documentation of received goods on paper. This method is not without its challenges, as it opens the door to human errors, delays in information sharing, and difficulties in tracking inventory. In the fast-paced world of construction, timelines and accuracy is paramount. The adoption of digital technologies in 2024 can significantly streamline processes and help achieve a greater efficiency overall. GRNs are often forgotten, but the transition to digital GRNs offers construction companies a range of advantages, including improved accuracy and tracking to enhanced collaboration with staff. Here are some reasons why construction companies should consider making the switch to digital in 2024.
With technology being such a large part of our lives, construction accountants find themselves against an array of cybersecurity attacks that threaten the stability of their organisations. With approximately 2.39 million cases of cyber-crime in the past 12 months as digital transformation becomes integral to the future of the construction industry, accountants must remain vigilant and implement measures to stay ahead and keep data protect in 2024.
In the ever-evolving landscape of the construction industry, where precision and efficiency are paramount, construction accountants play a pivotal role in ensuring a business’s financial health. Because of this, the tool that has become indispensable for modern construction accountants is an advanced accounting software. Here we explore why construction accountants must master the their accounting software to maximize efficiency and contribute effectively to the overall success of the project.
A family owned business with nearly 50 years of experience; London based maintenance specialists Greyline Builders Ltd wanted something better for their accounts solution in 2024.
In the ever-evolving landscape of the construction industry, staying ahead of the curve is crucial for success. For construction accountants, adapting to the latest technologies is essential to improve efficiency, accuracy, and overall business performance. As we step into 2024, construction accountants have numerous opportunities to elevate their practices and contribute significantly to the success of their construction businesses. Here are some key strategies to consider when looking to make the most of 2024:
The staff at integrity are pleased to welcome Gloucestershire based Cavendish Park Bricklayers to Evolution M, as they work to build a more flexible, more efficient business, allowing the team at Cavendish to boost efficiency and assist in streamlining their existing accounting and management processes.
Working to manage your construction projects becomes harder and more costly when you have to adapt to your software, instead of using software that adapts to you. Here are three compelling reasons to say goodbye to an outdated system and adopt something made for your needs.
Six Ways that Accounting Software can help Construction Companies avoid Bankruptcy and Administration
It’s no secret that construction companies often face financial challenges that can lead to mismanagement, losses, or even administration if not managed efficiently. A powerful tool that can help UK construction companies navigate these financial pitfalls is a robust and modern construction accounting software. In this article, we will explore how the implementation of a construction specific accounting software can help businesses avoid a worst-case scenario and improve their financial stability.
The construction industry in the United Kingdom has long been a vital pillar of the nation's economy, however, in recent years, the sector has struggled to overcome a host of financial challenges that have posed considerable threats to the success and sustainability of construction companies.
Construction projects are complex and require careful planning, execution, and monitoring to ensure profitability. One critical aspect of managing a construction project is the cost value reconciliation process. “CVR” aims to compare and align the budgeted costs with the actual cost incurred during the project's lifecycle. With cost value reconciliation, project managers can identify any discrepancies, make informed decisions, and improve future project estimations.
Integrity Software are thrilled to announce that Built Interiors, a well-established Dublin-based interior design and construction company, has selected Evolution Mx as their comprehensive accounting, project costing, and ERP system. This partnership represents a significant step forward for both organisations, and we look forward to working closely with the team at Built Interiors to servicing their critical business needs.
The Construction Computing Awards or "The Hammers" are back for 2023. This is the 17th annual event and as always, the hosts are looking to showcase and reward the best technology, tools and solutions for the year. We are proud to announce that we have been nominated as 2023 finalists, because we think our construction accounting software is great - and others agree! Our Evolution Mx software has been recognised by a multitude of different industry awards, including the Construction Computing Award for Best Accounting Software for the last 6 consecutive years, along with a Building Innovation Award, too.
In the dynamic world of construction, financial management is paramount. Construction accountants play a critical role in ensuring the financial health and success of their organisations. To optimize their performance, they must adapt to the unique challenges and opportunities they face. This article explores tips that construction company accountants can employ to enhance performance and contribute to success.
As the summer months begin to wind down and the autumn season approaches, construction accountants need to look ahead. The transition between seasons can have a real impact on the profitability of construction projects. To ensure smooth financial operations and minimise potential risks, here are some key considerations that construction accountants need to keep in mind before autumn arrives.
End of the road for your accounting solution? Why “End-of-life” can bring new life and efficiency to your business
The smooth management of financial transactions, cost tracking, and project budgeting are critical for construction companies' success. However, as technological advancements continue to reshape industries, many construction companies are faced with the dilemma of dealing with end-of-life accounting software. In this blog article, we explore the reasons why construction companies should seriously consider switching their accounting software when their current solution is reaching the end of its life.
As construction projects grow in complexity and size, managing finances becomes increasingly challenging. To meet these evolving demands, scalable construction accounting software has become an essential tool for construction companies.
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