Our latest Zavanti Connection enewsletter is now available online.
In this edition read about the recent Property Council Congress, which we were pleased to be a part of, the latest release of Corda CentreView 3.1, our new resellers in the UK and our membership of the Master Builder's Association (MBA).
Click Here to read online
27 August, 2008
18 August, 2008
Time for an Accounting System Overhaul?
In a recent IT Showcase News article, two leading UK Construction Software providers, RedSky IT and EasyBuild, presented their opinions as to why companies in the building and property development sector should look into an accounting system overhaul. We believe this is a significant issue considering today’s volatile economic climate, which is forcing many organisations to look at managing and tracking their business processes and costs more effectively.
Like RedSky IT and EasyBuild, we at Zavanti have found that most organisations usually have a core accounts system, which runs the ledgers and payroll, captures contract costs and maybe handles purchase order processing. In addition, they often have several other standalone systems providing Feasibility Analysis, Estimating and Valuations, as well as numerous Excel Spreadsheets.
However, more and more companies are coming to realise that using several different systems patched together is not the way forward. These organisations and are now looking at making the move to integrated systems which cover the complete construction and development lifecycle; from Feasibility and Estimating, through to Subcontract Tendering and Management, Purchase Orders, and Stock and Sales Management, as well as traditional backend Financials and Payroll.
There are many benefits to be gained from moving to a complete end-to-end business solution, which pulls the traditional banks of data that exist in separate departments together, from better decision making, increased operational efficiency and resource utilisation. A clear return on investment will also be achieved from a reduction in overheads and support fees.
EasyBuild advise that success can bring its own challenges. As you become established and your order book grows you need to know that you don’t have to worry about managing your accounts and that you can still maintain control and access to your key business information.
In addition, with tougher rules around financial compliance the connection between technology and business has never been stronger or more important. Integrated financial software systems are bringing greater levels of control and automation and audit ability to business processes.
EasyBuild argue that standard accounting systems have never been good at monitoring the leading operational indicators that drive profit. For this reason an industry specific solution that is aligned to these indicators should be considered to get the maximum benefit from your investment. Accurate financial information is critical to the decision making process and without the aid of a robust financial software system this is difficult to achieve.
Both RedSkyIT and EasyBuild conclude that technology is here to stay and businesses large and small should use it to their advantage. If you are a company with public sector or large corporate organisations as customers, the need to change is more significant as you could potentially be excluded from their supplier’s lists due to an inability to do business electronically.
Like RedSky IT and EasyBuild, we at Zavanti have found that most organisations usually have a core accounts system, which runs the ledgers and payroll, captures contract costs and maybe handles purchase order processing. In addition, they often have several other standalone systems providing Feasibility Analysis, Estimating and Valuations, as well as numerous Excel Spreadsheets.
However, more and more companies are coming to realise that using several different systems patched together is not the way forward. These organisations and are now looking at making the move to integrated systems which cover the complete construction and development lifecycle; from Feasibility and Estimating, through to Subcontract Tendering and Management, Purchase Orders, and Stock and Sales Management, as well as traditional backend Financials and Payroll.
There are many benefits to be gained from moving to a complete end-to-end business solution, which pulls the traditional banks of data that exist in separate departments together, from better decision making, increased operational efficiency and resource utilisation. A clear return on investment will also be achieved from a reduction in overheads and support fees.
EasyBuild advise that success can bring its own challenges. As you become established and your order book grows you need to know that you don’t have to worry about managing your accounts and that you can still maintain control and access to your key business information.
In addition, with tougher rules around financial compliance the connection between technology and business has never been stronger or more important. Integrated financial software systems are bringing greater levels of control and automation and audit ability to business processes.
EasyBuild argue that standard accounting systems have never been good at monitoring the leading operational indicators that drive profit. For this reason an industry specific solution that is aligned to these indicators should be considered to get the maximum benefit from your investment. Accurate financial information is critical to the decision making process and without the aid of a robust financial software system this is difficult to achieve.
Both RedSkyIT and EasyBuild conclude that technology is here to stay and businesses large and small should use it to their advantage. If you are a company with public sector or large corporate organisations as customers, the need to change is more significant as you could potentially be excluded from their supplier’s lists due to an inability to do business electronically.
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