Leveraging the Data You Get From Your Accounting Software

Owning and implementing construction accounting software allows for two very crucial things: keeping track of finances and analyzing key metrics.

While keeping track of receipts, bills, expenditures and other finances is important, tracking metrics is often overlooked, despite being far more important to construction companies. It is important for growing companies to remain organized when it comes to their finances, but the benefits of using accounting software reach their peak once you know what to do with the data that is recorded in your books.

The Onset of Big Data

We don’t have to prophesize about the coming onset of big data and what it can do for companies because the results are already in. Data analysis is becoming a top business priority for many companies. Retailers are projected to be able to increase their profits by up to 60 percent, while the healthcare industry is estimated to be able to save billions.

It’s a strategy that is still severely overlooked by companies across all industries, yet it is remarkably easy to implement, once you know what you are looking for.

Know Your KPIs

The first step to take when leveraging the data you collect is to know what metrics are important to you and which to ignore.  Before you go off looking for generic information on data collection and analysis, know that not every company, let alone every industry, should be interested in the same information.

The amount of data that can be collected is massive, and software programs like Sage are very good at aggregating a large range of figures. But you can spend countless hours sifting through all of it only to come up empty handed if you don’t have an understanding of what you are looking for.

The first essential step is identifying your key performance indicators. What is important to your business? Are you looking to cut down on expenses, better optimize your internal processes or make better use of your payroll budget? All of these can be answered from the data you collect, you just have to figure out bets relates to your business goals.

Great Metrics for Construction Companies

Some of the patterns that you may want to focus on are:

  • Checking billing invoices for errors and fraud

  • Trends in sales (seasonal, weather related, etc.)

  • When are your costs higher or lower (what external factors are affecting them)?

  • Where is your business coming from?

This all helps you plan ahead to see if you need to hire more workers, when the best time is to purchase equipment and when you may need to increase your marketing strategies to boost sales. It will also provide you with monthly and annual reports to help you budget better.

Software that Offers Solutions

So much more comes from owning a good construction accounting software than being able to organize your bills. It provides you with a clear look of your company’s finances so that you can make better business decisions in the future. Contact us today to learn more about the different types of software that are available to you.

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Testimonials

“We originally approached Techware due to their knowledge with the Sage 100 product we currently use. They provided outstanding support and training as needed. Techware assisted me many times by listening to our needs and coming up with product solutions we weren’t using at the time and also informed me of products we currently had, yet weren’t utilizing. Another thing I like is the offsite seminars they offer which allow me to meet other users in the area, and also learn of the new products that are currently offered. Working with the staff at Techware has been beneficial for our organization. I would recommend Techware because they are reliable and can help other companies become more efficient with software needs.”

-Paige Brosseth, Operations Accountant, Loeffler Construction & Consulting

“We interviewed several different IT companies, we selected Techware because of their expertise in Timberline and because of their trainers, who came highly recommended. I worked side by side with the trainer in the installation and training of our new software, I have not regretted my decision once. I highly recommend spending the time and money on trainers, it will make your life easier in the long run.”

“I highly recommend Techware for your IT needs, they have been responsive to our companies needs, in fact, we had a recent meeting with several of our partners, and Steve Pierce (owner) not only was present, but he included his entire team, the meeting was a success!
Thank you Techware!”

-Debra Hansen, Vice President, Greiner Construction

“When we first got Timberline I worked with Lila.  Lila is patient and knows Crystal Reports extremely well.  What I love about Lila is her willingness to teach me as she worked on the form because I want and need to learn Crystal Reports so that I could at least adjust the less complicated forms as necessary.  As Lila became more and more busy I was introduced to her new assistant Dan.  I was a little hesitant at first because Lila and I had such a good working relationship.  However, Dan has well proven he can handle quite complicated projects.  What he doesn’t know he will research and figure it out.  Dan and I have worked on equally complicated forms as I did with Lila, and Dan has completed everything we have asked of him.  As far as communication goes, I can most always get a hold of them in one call.  If not, they call or e-mail me back promptly.  I love working with them both.  The forms that they have made/adjusted for us are used each and every day and we are very thankful to have them.”

-Carol Brinkman – MB Companies, LLC

“I think that the easiest thing I have ever done is work with Lila Brown and could go on and on.  I would like to take a minute and share with you my experience.  Lila was so knowledgeable that writing our custom reports was a fast, simple and a pleasurable experience.  I will be honest with you; I was not looking forward to the down time that writing a custom report might entail.  To my surprise the process was painless.  Lila’s skills are such an asset to the procedure.  The reports were produced to my satisfaction including multiple changes after the fact, which were smooth and immediate.  I will highly recommend Lila Brown’s aptitude, professionalism, knowledge and ability; it was a great learning venture.”

-Cheryle L. Berg – Marathon

“I have no problem referring Lila as she was great and I really enjoyed working with her.  She is very friendly and easy to communicate with so it was easy to relay to her exactly what I wanted in my reports and that is what I got!  I would recommend her to anyone!”

-Monica Hlavac – Lovegreen

“Mr. Jim Hoeppner demonstrated his personal and professional qualities to be above reproach during our purchase, training and implementation of the Timberline Estimating Software package.  Mr. Hoeppner provided us with the detailed presentations, proposals and the support we were looking for during our initial product review. We purchased the software package in the fall of 2007. One of the options we wanted with the agreement was that he would provide on-site training to implement the software with our Civil, Mechanical and Electrical estimating departments. Mr. Hoeppner’s understanding of the Timberline Estimating Software product line was obvious during our on-site training. He was very thorough, knowledgeable and patient with our various disciplines and network implementation. Mr. Hoeppner worked around our schedule and was always available for a quick response if we had any issues when he was not on-site. He led our product implementation and was the force we needed to push us to use and understand the abilities of the software.  We currently (and have for some time now) used Timberline Estimating daily on all of our bid packages.  If you are looking for the support behind a product, you will not be disappointed if you get a chance to work with Mr. Hoeppner. His attitude was always upbeat and his rapport with our estimating team was excellent.  I would highly recommend Mr. Hoeppner, if you are considering implementing an estimating software package or looking for additional training.”

-Bruce Langseth – Fagen, Inc.

“Jim Hoeppner is the greatest!  As you know he has worked with us for several years helping us to learn the Timberline systems.  Not only does he know all about the Timberline systems but he seems to really understand our business as well and has taught us the way to use this software best for our organization.  We are very pleased with his style and availability when we have a problem.  Needless to say we highly recommend him to your future customers.”

-John Boyer – Boyer Building Corporation

“Steve, I have really enjoyed working with Kathy and she has done a tremendous job tackling, troubleshooting and being assertive getting solutions for me.  She really knows her stuff and always seems to “go the extra” and not afraid to avenue issues we haven’t done yet!!  Thank you for her!  I just think sometimes you have to know about it.”

-Charlee Anderson – MG McGrath

“Kathy knows the Timberline Accounting Software inside and out!  She is so knowledgeable in accounting and bookkeeping.  Our business is a small family owned and operated business.  I have complete trust in Kathy that all of our business matters are confidential and know that she is always looking out for the best interest for us and our business.  She has helped me so much in the past ten years.  I tell her every time she assists me, that she can never ever retire.  I would be lost without her!  I cannot say enough nice things about Kathy and how valuable her help and knowledge has been to me and our business.  I am so thankful she was sent my way.”

-Erin and Jason Kusske – Kusske Construction Company

Your team players are 100% rock stars!!! You and your team have been great to me for the past decade and it doesn’t go unnoticed. I appreciate Techware as a SERVICE provider because you guys are just so great. If you EVER need a recommendation on Techware, please put me at the top of your list.

-Robert M. Scott Vice President of Finance THOR Construction Inc. USA

We have worked very hard over the last year to develop and implement our Sage 300 (PE) Estimating system. Techware consultant Jim Hoeppner was instrumental in assisting us develop our database, assemblies and estimating system. We are now moving ahead at full speed using the entire system, including the Buyout on all new products. We look forward to our continued good relationship with Techware.

-Michael R. Roebuck Vice President Ron Clark Design & Construction Edina, MN

In our competitive industry, all the help you get to stay on top of the process and progress of a project can become life and death to a contractor. Sage 300 Construction Software and Real Estate Software is a great tool that has all the key elements that any construction company needs to be productive, efficient, and cost effective in the complete process from the notification stage to the final job stages.

Techware – what a great group of service providers; they are just a phone call away and always willing to help and find an answer to the important questions.

-Robin Peterson Business Systems Manager United Properties LLC Bloomington, MN