Construction is a major contributor to the U.S. economy.
According to the Associated General Contractors of America, the industry has more than 680,000 employers with an excess of 7 million employees and builds nearly $1.3 trillion worth of structures each year.
Building Sage Intacct Construction
More than 50,000 construction companies rely on Sage to drive success in over 7 million sub-contracts and 500,000 construction projects. Sage is in a unique position to build on this success with the Sage Intacct cloud platform.
Collaboration between Sage Intacct and the team responsible for Timberline has delivered a standout, cloud financial management solution designed to address the unique needs of construction companies. Bringing together the most trusted names in cloud accounting and construction software, Sage Intacct Construction delivers leading construction financial management functionality on our multi-tenant cloud platform.
From the first proof of concept to an early adopter release in March 2020, Sage Intacct Construction has come a long way to deliver on the complex needs of construction customers. Together, the combined team has translated construction-specific designs to the Sage Intacct platform, with the goal of providing our customers with a best-in-class construction financial management solution on a native cloud platform starting with a standard work breakdown structure plus two new standard dimensions.
Construction and native-cloud collaboration
Built as a native-cloud solution, Sage Intacct Construction empowers construction financial managers to make critical financial decisions, track and manage costs and productivity in real-time, from any location, and reduce typical financial consolidation from 100+ hours down to just minutes.
For the first time, construction companies have access to the preferred financial management system of the American Institute of Certified Public Accountants (AICPA). Sage customers have the option to leverage a best-in-class cloud financial management system at the time they need it most.
The early adopter release delivered a full multi-tenancy, multi-entity, multi-currency foundation with open APIs for integration partners such as Procore. Major features like standard work-breakdown structures for construction job management and the addition of two general ledger dimensions which are supported in transaction objects in all modules. Subsequent releases have also included critical features such as job estimates and AP/AR retainage for construction contracts.
Sage Intacct Construction is architected to connect with the mix of applications used by construction companies to handle both back office automation and operational tasks in the field. This ease of integration with an array of applications ensures Sage Intacct Construction customers are always using the best technology available to address their business needs. Plus, the native cloud solution removes the IT burden for construction customers, delivers automatic software updates, and offers accessibility to a remote workforce.
Cutting the ribbon
Since we unveiled the early adopter release, there has been an overwhelming amount of interest from financial managers in the construction industry and we anticipate this interest to grow as we continue to build more advanced product features based on customer feedback.
Additional functionality will roll out over the next several months as we approach our general availability release, including additional product integrations.
Learn more about Sage Intacct Construction here.