How to Implement New Construction Accounting Software Without Slowing your Business
There are so many moving parts to a construction project. A contractor’s ability to meet project deadlines and budget constraints can rely heavily on the level of technology and functionality in place to manage these moving parts. Construction firms require comprehensive and advanced solutions to manage their businesses and deliver excellent customer service. However, many businesses still rely on outdated systems, hindering their growth and competitiveness. Implementing leading cloud construction accounting software can support practices such as data centralization and connectivity across business functions. Although selecting and implementing new technology may seem daunting, proper evaluation and management can ensure a smooth transition and foster business growth. Keep reading and we’ll go over the steps on how you can implement a new construction accounting software without it slowing down your business.
Step 1: Identify your strengths and weaknesses
To successfully transition to a new construction accounting software, start by evaluating your current operations and identifying areas where your current system struggles. Select software that meets your needs and has reliable support to adapt to changing requirements.
The system’s capabilities will be monitored by your vendor and consultants, but it is up to you to make sure it offers the right functionality and is compatible with how your employees work. Keep in mind that software is just a collection of tools that can help your company serve its clients profitably. Your daily tasks should become simpler as a result of these tools, not more challenging.
Step 2: Find a solution that offers phased implementation
Instead of a “big bang” approach, plan a phased implementation where you roll out critical functionality first, followed by other pieces on a schedule that works for your business. Unfortunately, most solutions do not offer this flexible approach and require a large up-front investment.
Fortunately, there are solutions that support phased implementation and give you the freedom to start your digital transformation by adding a high-priority new feature first, and then additional capabilities or modules later. This approach reduces risk, spreads out costs and staffing burden, and is more manageable.
It is also possible to begin implementation in a single department or office location that is well-prepared to lead the effort before rolling it out to the rest of the team. To determine the best implementation plan for your specific needs, your construction accounting software vendor or independent consultants can assist you in developing a customized strategy.
Step 3: Consider a Fast Track implementation
When it comes to quickly implementing your construction accounting software, there are Fast Track options that enable faster implementation times. Typically with a Fast Track implementation, the customer takes responsibility for more aspects of the implementation, including data import, migration, and customizations. To accelerate the implementation and incorporate best practices, it may include preconfigured Chart of Accounts, Project Account Groups, and Standard Cost Codes. Be sure to evaluate if this is the right option for you as it’s not the right approach for every construction business.
Even with a short implementation time, choosing the right construction accounting software is a long-term decision. Make sure to fully investigate the vendor before considering the implementation of any long-term business system. It may be a good idea to research and find out from the vendor’s clients how well they support users both during and after implementation. You should have confidence that your supplier will be in business over the course of five, ten or even twenty years so they can continue supporting and expanding your system. A business system is not just a one-time purchase; rather, it is the start of a committed relationship that will help your business succeed.
If you’re interested in learning more about how to quickly and successfully implement a new construction accounting software, download this free pdf. If you’re ready to start implementing but need an experienced team that’s dedicated to helping you each step of the way, contact one of our construction software experts today.