Construction Spending Growth in November 2017

Big Gains for Construction: Spending Beats Estimates

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The construction industry continues to see a winning streak. Just days after the passage of tax reform, a new report from the United States Census Bureau found that the construction industry continues to beat estimates—nearly 1 percent above October estimates and nearly 2.5 percent above predictions made one year ago.

November Construction Sees Growth and Gains

From the Census Bureau January 3 Release:

“Construction spending during November 2017 was estimated at a seasonally adjusted annual rate of $1,257.0 billion, 0.8 percent above the revised October estimate of $1,247.1 billion. The November figure is 2.4 percent above the November 2016 estimate of $1,227.0 billion.”

Driven by major gains in private construction (seasonally adjusted annual rate of $964.3 billion, 1.0 percent (± 1.0 percent)* above the revised October estimate of $955.1 billion), this continues a winning streak for the construction industry, which has beaten estimates for [x] months and whose executives can look forward to sunnier futures now that they can put more money back in their business.

Private Construction Spending in 2017

Looking back over 2017 (December spending reports to be released in February), the outlook has been positive for private construction spending, and the industry has beaten it. Below, you can see the seasonally adjusted annual rates compared to estimates of the same month in 2016 and 2015.

*Please Note: We used revised numbers and final estimates where possible to calculate the percent change. This results in different percentage change numbers than those in the press release. For example, in the October spending PR from the Census Bureau, private construction spending was estimated at $949.9B, and revised to $955.1B in the November release.

Month Spending (in Billions) Prior Year (in Billions) % Change 2015 % Change from 2015
December TBA $909.7 N/A  $    844.1
November (Projected)  $    964.3 $939.5 2.40%  $    853.7 12.96%
October (Revised)  $    955.1  $    920.1 3.20%  $    845.7 12.94%
September (Revised)  $    954.2  $    914.3 4.36%  $    858.9 11.10%
August  $    945.8  $    911.5 3.76%  $    848.6 11.45%
July  $    947.5  $    907.9 4.36%  $    838.3 13.03%
June  $    955.7  $    893.6 6.95%  $    829.9 15.16%
May  $    954.5  $    888.3 7.45%  $    820.7 16.30%
April  $    942.6  $    854.6 10.30%  $    797.5 18.19%
March  $    950.8  $    879.0 8.17%  $    776.3 22.48%
February  $    949.3  $    858.1 10.63%  $    764.9 24.11%
January  $    946.3  $    858.1 10.28%  $    759.4 24.61%

 

With much of the economic uncertainty out of the picture, and promises of tax reform lurking since the November 2016 election, it’s no surprise that there were multiple months in which spending saw 10%+ growth year-over-year, and nearly 25% growth over the past two years. Following the passage of the tax reform bill, it’s even more likely that you can expect more construction spending on the horizon.

Even more, with the idea of an infrastructure bill being floated around, there could even be larger increases in nonresidential construction spending as the years progress.

Biggest Winners in the November 2017 Construction Spending Report:

Residential spending continues to recover post-recession, seeing just under 10% year-over-year growth. Among the biggest growers in 2017, transportation, commercial building, and healthcare have all seen large year-over-year increases, and single-family units have kept residential construction on the rise. For more information, including year to date value, please read the entire press release.

Ready to Go in 2018?

As construction spending continues to increase, businesses can expect growth is on the horizon. This said, the current lull in business is the time you should start looking at options for the busy season. If you feel like you’re pushing your current accounting solution to its limits, now is the time to look at your next step. Sage Intacct is one of those options. Designed to meet or exceed the needs of growing businesses in the services industries, construction companies now have an option designed in the cloud, backed by one of the leaders in the construction industry. We’d like to invite you to learn more about Sage Intacct for construction companies here, and contact us for more information.

Tax Reform in the Construction Industry

Tax Reform is a Reality: What Construction Companies Need to Know

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The first major legislative victory on behalf of President Trump, and the first major accomplishment since the appointment of Supreme Court Justice Gorsuch, and the largest tax reform package in over 30 years, the Tax Cuts and Jobs Act was finalized by Legislators on December 20, 2017 and was signed into law just days later.

While the bill will save money for nearly everyone (outside of high-income earners in high income tax states—due to the removal of the SALT deductions), the bill will create opportunities for a great deal of Americans and American employers. Today, we would like to discuss some of the important caveats and cutouts that affect the construction industry.

Six Things Construction Companies Need to Know about the Tax Cuts and Jobs Act

The construction industry is one of the many beneficiaries of the tax bill, set to reduce corporate tax rates, increase pass-through deductions, and make the United States more competitive in the global economy. Below, we would like to address some of the biggest benefits (and a few of the challenges) that will result from the new tax code.

Reduction in the Corporate Rate

One of the most prominent changes in the new tax code is the massive reduction in the corporate tax rate from 35% (the highest in the industrialized world) to a more competitive 21%. Construction companies, many of whom face cash flow challenges day in and day out, stand to benefit from keeping more of their own money.

Repeal of the Alternative Minimum Tax

Under current law, the Corporate Alternative Minimum Tax is 20%, with an exemption up to $40,000, and corporations averaging less than $7.5 million in gross receipts over the past 3 years were exempt.  Under the new law, the corporate alternative minimum tax is repealed.

The repeal of the AMT is hugely important for all corporations, especially those in the construction industry, as it removes a complex yet necessary process from the bookkeeping process. Under current law, the AMT required companies to essentially keep two sets of books making it both costly and paperwork-heavy. The new tax code will make life easier for accountants, bookkeepers, and business leaders at construction firms.

Section 179 Equipment Expensing

If there is one thing that will be advantageous for construction firms looking to purchase business equipment over the next five years, it will be the expansion of Section 179 equipment expensing—now doubled from $500,000 to $1 Million. There are two ways to look at this.

First, by doubling the amount that can be expensed, it will encourage investment in machinery and other equipment at construction firms. It will also reduce the hassles of depreciating an item over five, six, ten years, or eighteen years. However, there is huge value in expensing everything you can in 2017. With the corporate tax rates dropping in 2018, you will benefit from reducing your taxable income as much as possibly this year. We recommend expensing anything you can in 2017 to maximize your benefit.

Pass-Through Entity Tax Relief

Many construction companies exist as pass-through entities, and the new bill will allow them to keep more money. Now, sole proprietorships, partnerships, LLCs and S-corporations in architecture, engineering, and construction have been recognized for their role in building America, and will receive their reward for this role.

In the early versions of the bill, architects, engineers, doctors, lawyers, financial services firms and numerous other types of businesses were grouped together and excluded from the deduction. However, a redraft made a compromise for engineers and architects (including construction firms), recognizing their “integral role in facilitating capital investment” and ultimately qualifying them for the pass-through benefit.

Starting in 2018, Pass through entities (S-Corps / Partnerships) except for service entities will receive a 20% deduction on qualified income, subject to the greater of 50% of W-2 wages paid or 25% of W-2 wages paid and 2.5% of property placed in service.

Potential Challenges: Higher Interest, Increased Talent Demands, Lower Homeowner Demand

For some construction firms, the tax bill may not be 100% sunny. Raymond Torto, head of Raymond Torto Commercial Real Estate Advisory Services, believes that a tax cut during full employment could be too much of a good thing, ultimately leading to capacity strain and inflation. “Commercial real estate will suffer higher interest rates with steady demand—a good outlook if debt is not excessive for the asset class.”

Additionally, the new tax bill could pose challenges for realtors—and in turn, those in residential (single- and multi-family) construction. By doubling the standard deduction and reducing the mortgage interest rate deduction, the legislation blunts the benefit of the mortgage interest deduction—one of the key factors in the home-buying decision.

Forging Ahead: Construction Industry’s Future under the New Tax Plan

In 2017, Construction is one of the most heavily-taxed industries in the United States—second only to the retail industry in effective tax rates at 28.7%, and stands to benefit from this bill. While the new tax plan hasn’t made strides to cut spending and tackle the long term sustainability of the United States fiscal future, this has been a much-needed break for companies across the United States. As you forge ahead into the coming years, we would love to help.

In 2017, rinehimerbaker launched its construction-focused accounting technology practice, designed to help construction companies simplify their accounting, save time and money, and grow their business.

By working with one of the most trusted names in construction accounting software—Sage—we are proudly helping construction firms to find their way into the cloud with Sage Intacct—a best-in-class cloud ERP designed to help you increase project profitability and visibility. Contact us to learn more.

Empowering Service Technicians at Home Services Businesses

How Home Services Companies Can Empower Service Technicians

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The home services business is a highly competitive one that relies on quality service, rapid response, and customer satisfaction. In this, it is imperative that everyone is on the same page throughout the entire customer buying process—from the first time they look for a review on Yelp/Angie’s List/Home Advisor to the first interaction they make with your customer service representative to the final repair or improvement project that your service technician completes.

As we discussed in a recent blog, there is a lot of confidence among home services businesses, but little to back it up—come companies are seeing decreased revenues, some companies can’t find talent, and some companies are having trouble moving homeowners from lead to customer. In that blog, we discussed a few ways to empower your entire team with technology, and today, we would like to look at how to drive higher levels of satisfaction by making your service teams’ jobs easier.

Empowering Your Service Team to Complete the Last Mile of Customer Interaction

Your lead called in, spoke with a caring, knowledgeable sales/customer service representative, and has decided to move forward with your organization. Now comes the completion of the job. All of the legwork was done to set up the service technician for success, right?

If so, the technician can get in quickly, get the job done to the specs of the customer, and you can look forward to this customer telling his or her friends about you and calling you next time they need a home service.

However, without the right planning, briefing, or flow of information, there are many things that can go wrong. Poor scheduling could result in the technician being late. Poor planning could result in your technician not having the tools or materials for the job. Poor communication could result in unexpected slip-ups. Below, we discuss a few snags that could result in your service technicians being “hung out to dry,” and your customers feeling short-changed.

Issue 1: Scheduling

Your technician just got off a job. Now they have to drive 40 miles across town—and they have to do it in an hour and a half. Failing to plan is planning to fail, and improper scheduling could result in your service technician being late, getting stressed out by a long hassle-filled commute, and ultimately not arriving at a customer’s home ready to help.

How can you address this? You can try to tackle the problem by drawing on a map, writing down schedules in a book, and trying to balance all of your dispatches in a spreadsheet, or you could leverage easy-to-use, drag-and-drop dispatching technology. Through this technology, you can give your customers status updates and your technicians ample time to prepare and get to a location. This results in less stress for both customer and technician, and higher satisfaction of both.

When a technician arrives to a call promptly and ready to solve that particular customer’s problem, it sets the stage for a memorable service experience and creates an ideal selling environment. Learn more about creating a memorable experience for customers here.

Issue 2: Knowing Your Customer

“Doug Jones needs [repair].” So, what does your technician need to know about this person, about the repair, and about the home? Providing top levels of service means you’ve accounted for anything that could go wrong before it does.

By leveraging the right technology, you can brief your service technician on important customer and job details before they arrive at the job site. No rummaging through papers, no hiccups in invoicing. Just a simple, streamlined process that lets your technicians get in, get out, and get on to the next job.

Issue 3: “That’s a Nice Dog You Have ”

Even if your technician is a dog person, it’s unlikely they want to be carrying tools to the door when, out of nowhere, a large dog comes bounding at them. Simply put, no one likes surprises that much.

Luckily, technology has even made this interaction easier. Now, customer service representatives can send customers reminders about the time, and even let customers track when the technician is pulling up with technician tracking. One such example of this is ServiceTitan, which automates a lot of the final steps before a technician arrives, sending a notification when your tech is on his or her way, giving the customer ample time to put the dogs away.

Issue 4: Transparent Pricing and Billing

The last touchpoint could be the make-or-break one. An inconvenient payment process or an unanticipated charge could turn a five-star review into a one-star one. Make the process easier on your technicians and customers by leveraging technology to provide transparent pricing, simple invoicing, and in-field payment capture to clients. Take this further by providing simple financing options with rapid decisions.

Happy Technicians, Happy Customers: Why Fast-Growing Home Services Organizations Are Turning to ServiceTitan

Customer service is the name of the game, and with so many different touchpoints, one slip-up could result in poor reviews, fewer word-of-mouth recommendations, and lower business. By focusing on the last mile of the customer interaction—the service itself—you can improve technician and customer satisfaction. With easy to use scheduling and dispatching, advanced features like option builder and rapid financing, and customer-focused tools like technician tracking and reminder texts, you can reduce the risk of slip-ups and allow everyone to rest easier knowing the job will be done on time, on budget, and exactly as the customer expected.

This is why many of the fastest-growing service companies are turning to ServiceTitan. ServiceTitan is designed to help home services professionals do more, grow faster, and provide better service. Learn more about the platform here.

Taking It Further with Sage Intacct Integration

While the software was originally designed to integrate with QuickBooks, implementing ServiceTitan has been such a boon for companies, that many have found QuickBooks to be unable to handle their needs as they grow. This is why an increasing number of growing home services companies are turning to Sage Intacct to handle their back-office needs. From cash flow to contract revenue, general ledger to project accounting, AP to AR, Sage Intacct is becoming a game changer for businesses in need of automation, productivity, and support for growth.

Learn more about ServiceTitan by taking a product tour, and learn about our relationship with the company by reading our blog, Why Trade Services Companies Turn Toward the Cloud.

How Home Services Companies Can Generate New Business

Paths to Confidence: What Home Services Companies Need to Do to Drive More Business in 2018

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Following major hurricanes and other adverse weather events throughout the southeast, home services organizations are feeling more confident than ever in their ability to grow revenues, support customers, and convert leads to sales. However, recent research has found that many of these companies may have misplaced confidence in their futures, with many expecting tempered revenues or lead conversion challenges. We would like to look at recent research among these professionals and offer tips on improving in 2018 and beyond. Read more

ServiceTitan

Product Spotlight: ServiceTitan Home Services Software

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Whether HVAC, Plumbing, Electrical, Garage Door, or one of the many other home services industries, companies that offer repairs, maintenance, and improvements face high levels of competition, and one bad review could spell disaster. For those organizations, customer service is a top priority, and they need to put as much focus on providing high-quality service. This is why they not only need a complete view of the customer, they need to have a complete view of their service technicians, customer service representatives, and more.

Simplifying Service, Sales, and Operations for Home Services Professionals

Home services organizations—from those with a few techs to those with dozens or even hundreds—have the same concerns. From knowing the who, what, where, why and when to taking steps to increase bookings, measure success, and improve efficiency, the challenges are often similar. However, how the companies tackle these challenges is what separates the successful ones from the average ones. Enter ServiceTitan.

ServiceTitan was founded to help companies grow revenues, increase customer service, and integrate with leading finance and back-office applications to save time and money.

Simply put, ServiceTitan empowers your home services organization to:

  • Grow revenue and increase your average ticket: Book more estimates from the office with intelligent call tracking features, then win more jobs in the field with a powerful visual sales experience.
  • Connect your office to your techs with real-time data: Forget double entry, keep your team on the same page, and be more efficient with real-time updates between the field and the office.
  • Create an extraordinary customer experience: Send automated “meet-the-tech” bios and let customers see their tech driving to their house on a map to reduce anxiety and prepare for the call.

Call Booking

If you’re looking to improve your conversions, build rapport with customers, and track the effectiveness of your customer service people, call booking is a can’t-miss feature that ServiceTitan has designed for its home services customers. ServiceTitan makes this easy by:

  • Revealing high performing and underperforming customer service representatives by tracking conversion rates.
  • Record and listen to conversations to create coaching opportunities.
  • Know and identify return customers, empowering sales and customer service people and allowing for improved satisfaction and increased sales opportunities.

Customer Experience

Keep your customers up to date and well-informed. ServiceTitan allows you to create an unforgettable customer experience by doing the little things customers love:

  • Send text and email reminders to customers
  • Provide easy to create, information-rich bios of service technicians, reducing stress and putting a face to a service.
  • Display where the technician is and when they will be there—allowing customers to prepare for the arrival.

Dispatching

ServiceTitan’s dispatching software can help you ensure there is minimal downtime for technicians, increase satisfaction by putting the right person on the job, and improve route efficiency by allowing CSRs to map out routes and schedules easily, accurately, and efficiently.

  • Save time with easy to use drag-and-drop scheduling and dispatching.
  • Match the technician to the job, allowing for improved service quality for customers.
  • See technician capacity and availability in real-time.

Marketing

Marketing your home services business is a challenge, but ServiceTitan makes it easy, taking care of tracking, measurement, and reporting so that you can focus on providing top quality service.

  • Generate custom, unique phone numbers to track exactly where each new lead came from.
  • Prove the value of your marketing efforts by automatically attributing the campaign to the job.
  • Know that your efforts are providing value by displaying revenue per campaign, acquisition cost, and more.

Financing

If you’re working major jobs, your customers may not always have $5,000 or more on hand. This is why ServiceTitan integrates with financing companies to provide near-immediate approvals with minimal paperwork. ServiceTitan connects customer to financer and makes the financing process simple,

  • Display and offer financing options to customers with no additional paperwork.
  • Let customers know whether they’ve been approved within thirty seconds.

All of this has combined to provide ServiceTitan Customers amazing growth and high ratings. With more than 1,000 customers in the home services community, ServiceTitan is growing at a torrid pace—and so are their customers: The average increase in revenue for ServiceTitan customers is 25%.

Ramp Up the Benefits: Sage Intacct Integration

ServiceTitan is designed to help home services professionals do more, grow faster, and provide better service. While the software was originally designed to integrate with QuickBooks, implementing ServiceTitan has been such a boon for companies, that many have found QuickBooks to be unable to handle their needs as they grow.

This is why an increasing number of growing home services companies are turning to Sage Intacct to handle their back-office needs. From cash flow to contract revenue, general ledger to project accounting, AP to AR, Sage Intacct is becoming a game changer for businesses in need of automation, productivity, and support for growth.

Learn more about ServiceTitan by taking a product tour, and learn about our relationship with the company by reading our blog, Why Trade Services Companies Turn Toward the Cloud.

Specialty Trade Contractors in the Cloud

Why Trade Services Companies Turn Toward the Cloud

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Day in and day out, specialty trade contractors are in steeped in providing exceptional service. Customers have high demands—sometimes urgent—and there’s always a willing competitor around every corner, ready to swoop in and over-deliver. So the more time business owners and admin staff can focus on providing value-added service, the better.

That’s why simplifying back office activities through cloud-based financial management and accounting process automation is part of a winning strategy for growing trade services companies. Here, we’ll take a closer look at the reasons why.

Automating Across the Business—And Making it Mobile

Time is of the essence, especially for companies with seasonal field service operations. From managing an already loaded calendar to accommodating emergency service calls, focusing on anything but the customer can be a challenge. And thanks to modern technology, more of the business management is happening out in the field, where every employee is on the go.

This helps explain why tech adoption among trade services companies emphasizes cloud-based, mobile-ready solutions. For example:

  • Mobile field service management and fleet telematics tools help business owners and fleet managers schedule and dispatch technicians, optimize their vehicle health and safety efforts, and prepare for tax time—all while remaining responsive to customers.
  • Customer billing and payment and employee expense management software solutions are handy in the field and the office, removing steps from traditionally paper-centric processes that take time and energy away from more strategic, customer-focused activities.
  • Financial management and accounting software frees up time for decision-makers by taking the highly transactional, manual, and spreadsheet-based heavy lifting out of the back office and into the cloud, where actionable data can be accessed from anywhere.

Integrating Data for Process Optimization

All-of-the-above cloud-based software systems provide business owners with game-changing data. Fleet telematics data can be used to route drivers and deliveries more efficiently; employee expense data can help business owners allocate budgets more effectively; historical or even real-time financial performance reports can uncover opportunities to improve vendor relationships and contract pricing. It’s easy to see the bottom-line impact of the right information coming in at the right time in a user-friendly way.

When data from disparate systems is connected, managers get an even richer view into operations. Take the field management platform Service Titan, for instance, a cloud-based technology vendor providing comprehensive solutions to home services business. Their tools are multi-faceted, as they touch different areas of a business, from technician scheduling to marketing to customer service. The data generated from these processes is powerful on its own—and Service Titan arms customers with robust business intelligence tools. But consider how much more powerful the insights become when they can be “sliced and diced” alongside data from other business systems, like Sage Intacct’s financial management and accounting software.

With this front office (Service Titan) and back office (Sage Intaact) integration, a specialty trade contractor is given one single view of customer and financial information across their entire business. They also experiences these benefits of automation:

  • Elimination of manual data entry for invoices and purchase orders into the accounting software.
  • The systems can work together to allow comprehensive financial consolidation, reporting, and analysis across multiple business entities.
  • Non-accounting staff can access financial information from within the ServiceTitan platform they’re familiar with.

As the first Sage Intacct VAR partner to complete integration between Sage Intacct and Service Titan, rinehimerbaker can help you maximize the data coming from your cloud-based field service management and financial management software. Contact us to find out more.

Trade Contractor Accounting Challenges

Three Financial Time Drains for Trade Contractors

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There are over 10 million trade service contractors, and while some operate as single independent contractors, many others operate in a larger business unit, with large-scale time management, purchasing, and accounting needs, run either by a business manager or staff who needs to manage purchasing, labor, billing and more.

Whether you’re in the business of electrical work, plumbing, HVAC services, data networking, roofing, painting, carpentry, sheet metal, or one of the many other trades, your industry faces some unique back office challenges.

With this in mind, one of the biggest concerns is likely this: You’re doing more and more work each month, and expected to get it done in the same amount of time. While you used to be making or supporting decisions that positioned your company for growth, nowadays you’re struggling to just complete the basics. In essence, you’re working in your business, not working on it.

Working in vs. Working on Your Trade Contractor Business

For an accounting professional, manager, or other business leader at a trade contractor, working in your business is simple: spending your day completing the necessary tasks in line with your job description.

However, when you’re working on your business, you’re getting all of the necessary tasks done, but also doing work to improve the business. This could include anything from highlighting opportunities for purchasing to save money, finding new opportunities for the project department to improve efficiency, or even finding ways to generate new business. Simply put, working on your business is where the money is made.

Unfortunately, one of the problems that trade contractors face is that leaders constantly get caught up in the minutiae of the daily grind and lose sight of the big picture. With rare exceptions, the people at a business want to help said business grow, but they often lack the processes or technology to do so.

If you really want to start focusing on the big picture, you need to take a step back, look at your everyday tasks, and look for certain things you can automate, so you to get back to working on your business.

Three Necessary Time Drains Preventing You from Working On Your Business

While the trade may differ, the process of accounting for it is relatively similar, and if you’re like most, you waste away on manual processes surrounding one or more of the following tasks.

Contracts, Completion, and Revenue Recognition

Much of your work is based in contracts, and whether you’re looking at the current way of doing business (PCM/CCM) or the ones about to take hold (performance obligation), bringing everything together poses challenges and creates a lot of work.

If the current method seems laborious, the new standards about to take hold will create a new set of challenges, as the contractor task force has been among the most vocal of the AICPA working groups who have noted implementation challenges. For businesses with outdated, manual processes, this means you will be doing a lot more work transitioning to the new standard and managing contracts under it.

The Cure: Technology Designed with ASC 606 in Mind

Revenue Recognition for trade contractor organizations can be a complex series of decisions and paperwork—both under the new and old standard. However, with major changes on the horizon, having plans, processes, and technology in place can be the first step in a successful transition to new standards. Sage Intacct was built to make contract management under the new standard simple, handling the complex requirements and providing peace of mind for accounting and project teams.

Learn more about the new standard and how Sage Intacct is ready to tackle the challenges it presents here.

Project Cost and Profitability Tracking

You have to answer a lot of questions on a daily basis. Will this job be completed on time? On budget? Do we have the people to take this job on this date?

Back-office professionals at trade contractors need to be able to answer these questions quickly, efficiently, and accurately. If your answer to any of these questions was “I don’t know” or “let me get back to you,” you don’t have a complete picture of your business. You need to have a complete view of each project—from materials to labor—before, during, and after the project. More importantly, it’s vital that you can come up with answers to these questions quickly.

The Cure: Speed through Automation, Visibility Through Dashboards and More

By automating your processes and setting up dashboards, you can receive and present information quickly, clearly, and compellingly—when and where you need to present it. Sage Intacct offers the right project insight when and where you need it. Whether in the form of dashboards, analytics, or project accounting-focused design, Sage Intacct can handle anything a finance team at a trade contractor can throw at it.

Cash Flow

Just as you need to look at projects before, during, and after, you need to be able to present a cash flow statement for both these projects and for the organization as a whole. This is the job not only of the back office, but of the project manager as well, who needs to be able to accurately present a schedule of values.

Financially savvy companies use standardized processes to ensure that the ability to be cash flow positive exists earlier in the project. PMs need to understand that their goal is to define a revenue recognition strategy that ensures a good cash position for their projects.

The Cure: Anytime, Anywhere Access for Those Who Need It Most

To make this happen, trade contractors need to combine automation with mobility, allowing project managers to access the numbers, submit costs, mark up the costs based on predetermined standards, and get all of this to billing—whenever and wherever. However, thanks to the cloud, providing access to the people who need it is easier than ever. Sage Intacct was recently recognized for its cash management function. Learn more about the feature and how it can make everything from billing to planning easier here.

The Challenges in Accounting for Trade Contractors Don’t Stop There

These are just a few of the time drains that finance and accounting professionals at trade contractors face every day, month, quarter, or year. However, by taking steps to increase automation, mobility, and reporting, the jobs mentioned above can be completed in less time, so you can get back to working on your business.

Sage Intacct provides the automation, reporting capabilities, and analytics you need to make decisions and prepare for the road ahead. Whether you need to manage a team of 10, 100, or 1,000 contractors, Sage Intacct can grow with you, working with other technology you need to manage your business.