{"id":22066,"date":"2024-03-01T09:00:00","date_gmt":"2024-03-01T14:00:00","guid":{"rendered":"https:\/\/www.sage.com\/en-us\/blog\/?p=22066"},"modified":"2025-02-11T10:43:42","modified_gmt":"2025-02-11T15:43:42","slug":"financial-management-software-in-construction-higher-earnings","status":"publish","type":"post","link":"https:\/\/www.sage.com\/en-us\/blog\/financial-management-software-in-construction-higher-earnings\/","title":{"rendered":"How leveraging financial management software in your construction business can result in higher earnings\u00a0"},"content":{"rendered":"
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\n\t\t\t\t\t\tHow leveraging financial management software in your construction business can result in higher earnings \t\t\t\t\t<\/h1>\n\t\t\t\t<\/div>\n\n\t\t\t\t\t\t\t\t\t

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\n\t\t\t\n\t\t\t\t\"sergey-stepanov\"\t\t\t\tSergey Stepanov<\/span>\n\t\t\t<\/a>\n\n\t\t\t\t\t<\/div>\n\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t<\/div>\n<\/div>\n\n\n\n

You’re no stranger to the unpredictable nature of the construction industry.  <\/p>\n\n\n\n

Supply chain disruptions, fluctuating financial landscapes, and unexpected labour shortages are the new normal.  <\/p>\n\n\n\n

Despite these challenges, business is booming.  <\/p>\n\n\n\n

According to GlobalData<\/a>, the size of the Canadian construction market exceeded $349bn in 2022. Future growth in the industry will come from developments in the commercial, residential, energy, and educational sectors. <\/p>\n\n\n\n

There\u2019s plenty of business to be won, which means the pressure is on for sales and finance teams to deliver rapid and precise bids.  <\/p>\n\n\n\n

Quote quickly and accurately<\/strong> <\/h2>\n\n\n\n

If you\u2019re still relying on manual, paper-based estimates, you may be slowing down the bid preparation process.  <\/p>\n\n\n\n

Picture this: your bid preparation process, but 50% faster. How? With financial management software<\/a>. <\/p>\n\n\n\n

You can use it to standardize your best practices, and analyze costs, phases, and activities with a new level of precision. This will help to keep you ahead in the competitive construction market. <\/p>\n\n\n\n

Remember the days of manual material counts from blueprints?  <\/p>\n\n\n\n

Those days are gone with electronic takeoff software, which streamlines and automates the process of measuring and quantifying building materials and labour costs from blueprints and digital designs.  <\/p>\n\n\n\n

Financial management software for construction companies can transform how you extract material counts and it allows you to churn out more bids accurately, without increasing your staff.\u00a0\u00a0<\/p>\n\n\n\n

This is about more than software\u2014it’s about revolutionizing your entire bidding process. <\/p>\n\n\n\n

Win <\/strong>r<\/strong>epeat <\/strong>b<\/strong>usiness<\/strong> <\/h2>\n\n\n\n

The best way to win repeat business with a customer is to do the existing job well. <\/p>\n\n\n\n

Using job cost accounting software is a game-changer here.  <\/p>\n\n\n\n

It enables real-time tracking of all essential costs, from labour and materials to overhead.  <\/p>\n\n\n\n

This not only gives you a precise picture of profitability, but also lets you identify profit sources by cost codes, project managers, job types, and customers.  <\/p>\n\n\n\n

Benefits of using financial management software include: <\/p>\n\n\n\n