Story at a glance:
- Sage shares efficient solutions for any company in the construction and real estate industry who wants to benefit from the cloud.
- Construction continues to face many challenges, including supply chain issues and material shortages. Technology can help bridge the gap.
- The use of cloud-based technologies across the construction and real estate industry is on the rise.
More than 50,000 construction companies rely on Sage to drive success in more than 7 million sub-contracts, 500,000 construction projects, and 600,000 rental units. That’s a lot of work, and Sage streamlines it all.
As the market leader for integrated accounting, payroll, and payment systems, Sage offers a number of solutions to help today’s businesses manage everything from money to people. When it comes to cloud options, they have solutions for any size business.
We recently sat down with Dustin Stephens, vice president of construction and real estate for Sage, to find out more about some of the top solutions for businesses in the construction and real estate industry—namely exploring products like Sage 100 Contractor, Sage 300 Construction and Real Estate, and Sage Intacct Construction.
What are the biggest differences between these products?
The biggest difference is that Sage Intacct Construction is a native cloud solution, purpose-built for construction on the trusted Sage Intacct platform.
Sage 100 Contractor helps manage all phases of construction and service management in one simple, out-of-the-box solution.
Sage 100 Contractor and Sage 300 Construction and Real Estate, while not native cloud solutions, can be deployed in the cloud through the use of a private cloud or third-party hosting provider.
What are the biggest benefits?
Sage 100 Contractor helps manage all phases of construction and service management in one simple, out-of-the-box solution. With easy access to critical business and project information, Sage 100 Contractor helps small to mid-sized contractors manage business operations more effectively. Sage 100 allows you to:
- Manage critical business operations
- Get easy access to critical job cost and project details
- Get instant access to project status
- Integrate estimating and export budgets, proposals, subcontracts, and purchase orders
Sage 300 Construction and Real Estate is the market leader in end-to-end construction and property management software. It helps contractors, developers, and property managers build and maintain projects and properties with precision and confidence. It also helps teams manage risks related to subcontractors and vendors, improve visibility with custom reporting, and collaborate across all project phases. Sage 300 Construction and Real Estate is geared toward mid-sized to large contractors and offers:
- Service operations
- Business visibility
- Document management
- Project management
- Service management
- Real estate management
Sage Intacct Construction
Sage Intacct Construction is a native-cloud construction solution built to handle the specific needs of commercial contractors and real estate developers. It provides anytime/anywhere access to data, real-time visibility and insights, continuous consolidation or multiple locations and entities, and improved efficiency with automated AP/AR processes—providing 20 to 40% efficiency gains. Plus, the true cloud technology with an open API allows for easy integrations.
Sage Intacct allows you to:
- Automate AP/AR processes. Gain 20 to 40% in work efficiency.
- Reduce average month end close time by 25 to 50%
- Minimize busy work. Increase time spent on analysis and business strategy by 25 to 75%
Regardless of which solution a business chooses, they will benefit from Sage’s more than 50 years of experience serving the construction industry along with Sage’s superior customer support, strong network of local business partners, and robust product training and resources, including the newly launched Sage Membership. It’s no wonder over 50,000 construction companies rely on Sage to manage over 7 million sub-contracts, 500,000 construction projects, and 600,000 rental units each year.
How is this technology evolving?
The recent environment has highlighted the importance of having anytime/anywhere access to project critical information, so more businesses are turning to cloud-based solutions. There isn’t a one-size-fits-all solution when it comes to technology, so it is important to select a solution with an open API.
At Sage we believe in giving our customers the power of choice to use our solutions with other industry-leading solutions they are using or may use in the future. Our strong industry partnerships and integrations help ensure their tech stack addresses their individual business needs.
Why is this important?
As a trusted technology provider, we strive to break down barriers so everyone can thrive. It is important to deliver real solutions to address issues our customers are experiencing. Construction continues to face many challenges, including supply chain issues, material shortages, project delays, and a qualified worker shortage. In an industry with already slim margins, this makes it increasingly more difficult to deliver projects on time and within budget. Fortunately, technology can help to bridge some of the gaps many businesses face, enabling them to perform necessary tasks much more quickly and with fewer resources.
56% of firms surveyed use cloud-based technology for project management, and 47% of contractors use cloud technology for field operations.
As anytime/anywhere access has become more critical for construction firms, it is not surprising that we have seen gains in the use of cloud-based technologies over the past few years. The 2022 Construction Hiring and Business Outlook conducted by Sage and the AGC found that 56% of firms surveyed use cloud-based technology for project management and 47% of contractors use cloud technology for field operations.
Accounting is the area in which we have seen the biggest increase in cloud technology usage over the past couple of years—45% are now using cloud technology for accounting, up from 38% last year, and 31% in 2020. We will continue to innovate to deliver solutions that empower our customers to knock down barriers and succeed.