As a specialty contractor, you face unique operational challenges. Using the wrong construction accounting software can create gaps that hinder efficiency and visibility, causing project delays, inefficiencies, and revenue loss. While QuickBooks has supported many businesses, it often lacks the advanced features specialty contractors need. Its limitations restrict operational visibility, impact decision-making, slow growth, and reduce customer satisfaction.
Sage Intacct for Specialty Contractors is an end-to-end construction ERP platform built specifically for preconstruction, finance, and operations. It integrates all aspects of your business, improves collaboration, and offers greater visibility into project and business performance. Its cloud-based suite provides real-time data access, keeps team members coordinated, and supports informed decision-making, thereby increasing productivity and profitability across every project phase. Explore five areas where Sage Intacct offers enhanced capabilities for specialty contractors.
5 Ways Sage Intacct Improves Financial and Project Visibility
Dashboards and Financial Reporting for Specialty Contractors
QuickBooks lacks advanced reporting capabilities, often forcing users to rely on manual Excel spreadsheets. This can lead to errors, outdated data, and inefficiencies that waste time and resources. Without robust reporting tools, contractors struggle to gain a comprehensive view of their financial health and project performance.
Sage Intacct for Specialty Contractors provides highly customizable dashboards and reporting tools that offer real-time visibility into key metrics. Users can create tailored dashboards to monitor specific data, such as budgeted versus actual spend and estimated versus actual hours worked. The platform’s flexible report templates and Excel-like formulas enable precise financial statements and insights. Role-based dashboards ensure that each team member has access to the information needed for informed decisions, improving project performance and overall efficiency.
Resources Management and Labor Utilization
Effective resource management is crucial for specialty contractors. QuickBooks often falls short in this area, making it challenging to allocate resources accurately and track their use across projects. Sage Intacct for Specialty Contractors addresses these issues through advanced features such as timesheet tracking, labor costing, and field employee monitoring. It helps contractors manage teams working on multiple short-term projects daily while ensuring proper labor allocation and cost control. Real-time visibility into employee performance, including positions, union affiliations, and trade details, supports precise labor-cost allocation and improves resource-management efficiency.
Inventory Management for Specialty Contractors
Effective inventory management can be a significant challenge for specialty contractors without the right software. Sage Intacct for Specialty Contractors provides a robust, integrated solution that simplifies this process. It enables contractors to track inventory levels, handle procurement, and streamline the receiving process. This feature is especially valuable for contractors like plumbers who need to keep trucks fully stocked. Sage Intacct allows teams to create inventory kits for these trucks and automate restocking as items are used, ensuring materials are always available when needed. The system also provides project managers with insight into inventory performance, thereby improving overall project efficiency.
Customer Payments and Cash Flow Management
Processing customer payments efficiently is crucial for maintaining cash flow and ensuring timely project completion. QuickBooks offers basic payment processing capabilities, but it often falls short when handling complex situations such as advance payments. Sage Intacct provides advanced capabilities that support more sophisticated billing workflows. Contractors can automate invoicing, manage payment schedules, and accept multiple payment methods. Sage Intacct also supports automating accounts receivable advances, enabling contractors to receive upfront payments before work begins. This feature allows contractors to create customer payments before generating revenue. Once a project is completed, these advances can be converted into revenue, streamlining the financial process and improving cash flow management.
Customizations for Contractor Accounting Workflows
Specialty contractors often face unique operational needs that a generic platform like QuickBooks may not fully support. Sage Intacct for Specialty Contractors provides a flexible, customizable solution that scales with your business. Users can customize dashboards, reports, integrations, and other features to match specific operational processes and requirements.
For example, the system allows customization within GAAP accounting workflows. In one case, a client needed to track project costs as liabilities on the balance sheet and automatically transfer these costs to the profit and loss (P&L) statement once the project was completed. Sage Intacct supported this customization by automating the movement of funds from the balance sheet liability account to the P&L statement when the project status changed to completed. This flexibility allows contractors to tailor the system to their accounting workflows, improving efficiency.
Choosing the Right Construction ERP Partner
Selecting the right technology is just one part of a successful ERP transformation. Specialty contractors also need an implementation partner who understands construction accounting, project management, and the complexities of operations. At CBIZ, our advisors assist contractors in evaluating, implementing, and optimizing Sage Intacct for Specialty Contractors to enhance financial visibility, operational efficiency, and scalability.
As a Sage Diamond Partner with over 30 years of experience implementing Sage solutions, CBIZ offers guidance throughout the migration and implementation process. To learn how our advisors can help you reach your business goals with Sage Intacct for Specialty Contractors, contact our team.
© Copyright CBIZ, Inc. All rights reserved. Use of the material contained herein without the express written consent of the firms is prohibited by law. This publication is distributed with the understanding that CBIZ is not rendering legal, accounting or other professional advice. The reader is advised to contact a tax professional prior to taking any action based upon this information. CBIZ assumes no liability whatsoever in connection with the use of this information and assumes no obligation to inform the reader of any changes in tax laws or other factors that could affect the information contained herein. Material contained in this publication is informational and promotional in nature and not intended to be specific financial, tax or consulting advice. Readers are advised to seek professional consultation regarding circumstances affecting their organization.
“CBIZ” is the brand name under which CBIZ CPAs P.C. and CBIZ, Inc. and its subsidiaries, including CBIZ Advisors, LLC, provide professional services. CBIZ CPAs P.C. and CBIZ, Inc. (and its subsidiaries) practice as an alternative practice structure in accordance with the AICPA Code of Professional Conduct and applicable law, regulations, and professional standards. CBIZ CPAs P.C. is a licensed independent CPA firm that provides attest services to its clients. CBIZ, Inc. and its subsidiary entities provide tax, advisory, and consulting services to their clients. CBIZ, Inc. and its subsidiary entities are not licensed CPA firms and, therefore, cannot provide attest services.
