Reduce risks in this modern world by relying on our mobile construction accounting software, instead of on older technology. Read on to see the consequences of not updating your construction accounting software.
Outdated Technology Puts You at Risk
As many Construction accounting systems were developed more than 20 years ago, they are not able to keep up with the ever-evolving construction businesses. Although your current system feels comfortable, keep in mind the risks you are taking using outdated technology.
Top 3 risks
- Limiting of field team’s capabilities
The goal for your teams in the field is to work as effectively and efficiently as possible. However, using scattered various communication apps for accounting and construction systems may actually result in a lack of communication. These systems will only be able to “talk” to each other when they’re customized to do so, which is expensive and inefficient to maintain and often results in difficult access of business data in the field.
- Costs and frustrations
Virtual private networks (VPNs) or Citrix may be used by older systems to give teams in the field remote access to business data. In addition to the communication described above, these networks also have additional costs. Secondly, you are unable to filter data in the software that is most efficient for the field teams. Instead you often give them access to the entire system which may cause some frustrations among your employees.
- Dissatisfying subcontractors
Not updating business software can result in inefficiency and a slowed down communication. For example when reviews and approvals of subcontractor invoices between the field team and the main office have to be completed. Lack of communication speed can negatively affect business relations, in a time where it is already difficult to find good subcontractors.
Benefits of an Updated, Modern System
Instant delivery of information at any time and place is a clear need for construction companies, which can be achieved by investing in modern Construction Accounting Software.
With cloud-based software, businesses can cut costs for hardware and servers. A true cloud option is offered by Acumatica with all the possible needed resources, expandable at any time. Companies no longer have to spend company staff time to update application software and operating systems, the software updates for Acumatica are done automatically and handled by highly trained IT professionals. And data entered using one device means access from any location throughout the company.
True Cloud Software is Vital
An instant and seamless connection between the field teams and the main office are easily attained with true mobile Construction Accounting software. Customer information can always be accessed, compliance can be checked, and all parties involved are confident that every is on the same page because everyone uses the same source.
One important difference to keep in mind when updating your old system is the difference between fake and true cloud options. Fake systems often do not have full integration options and will confuse you with the offered solutions. True options on the other hand, like Acumatica Construction Edition, provide an end-to-end construction solution that’s purposefully cloud-based. It ensures you can keep track of your business’ performance through KPI management and much more.
Acumatica Construction Edition was showcased at the NAHB International Builders Show in Las Vegas. Builders across the country had the opportunity to see the comprehensiveness of the software in action. Contact our team for a demonstration or more information and stay tuned for more posts on the transformation cloud construction software can give to your company.
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