The Importance of PM to Accounting Integration
In a construction project, you often find there is a very small margin for profit. With this in mind, it becomes extremely important to understand how financial changes can impact your bottom line. In order to make the necessary project decisions, construction teams need to keep a close eye on the financial obligations in any given project. If the proper financial data isn’t available, PM’s will have to rely on guesswork from possibly outdated information, causing costly delays.
Imagine this, the end of the month arrives and you are looking to consolidate your financial data. After careful analysis, you realize the information you gathered for the month doesn’t match up. Could this be? You know you entered all the information manually yourself. Soon you begin to wonder if you may have made an error copying the data from your PM solution. You may think you couldn’t have made a simple mistake, so you start to wonder if someone didn’t understand what the foreman wrote on a timesheet? And even if the error is discovered, how much time and effort will be needed to fix the error.
The solution to these accounting issues is quite simple, an integrated accounting construction software. With accounting integration you will find two main benefits to solve these issues:
Single Source of Truth
Accounting integration through field, office, and accounting ensures full visibility throughout the business. The software will handle all financial data, which reduces double entry, saving you time and money. All information is entered into ONE system, whether it be from the PM or internal associates, and all the data will be accounted in real time.
Profitability
An integrated solution gives you the ability to track job costs accurately and provides a single solution for all job data inputted so your employees can focus on what matters. This allows the PM to drill down into the financial data and know at any time how jobs are performing. With this info you can confidently made real-time decisions, reducing time and money spent.
Integrated Accounting Software for Construction Companies
eSUB’s construction management software provides adaptable accounting integration to help your firm dramatically increase project accountability and efficiency. It’s easy to connect your accounting software with eSUB. The complete control over your budgets and forecasting will save your team loads of time, effort, as well as maximizing efficiency.
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