Sage launches cloud finance solution for UK construction

UK construction professionals have recently reported the lowest productivity levels compared to other regions, prompting a need for enhanced operational efficiency in the sector. In response, Sage has launched Sage Intacct Construction in the UK, a cloud-native financial management solution tailored specifically for the construction industry.

Sage Intacct Construction aims to address several of the ongoing challenges faced by the UK construction sector, including workforce shortages, supply chain disruptions, and increased costs. The solution has previously been successful in markets such as the US, Canada, and Australia, and it is now poised to assist UK builders, contractors, and developers in maintaining financial control and competitiveness.

The software is designed to improve productivity by automating processes and providing real-time data access. Businesses using the product have already reported significant efficiency gains, with a 40% increase in automation of accounts payable and receivable and up to 50% reduction in the time required to close month-end accounts.

"Sage Intacct Construction is a significant development for the UK market," commented Julie Adams, Senior Vice President, Construction & Real Estate at Sage. "We are building on a heritage of 50 years of trust and innovation that has helped tens of thousands of customers in other regions. This expertise will empower construction businesses in the UK with real-time insights, automation, and financial management tools to drive profitability and efficiency and position themselves for sustainable growth."

The introduction of Sage Intacct Construction provides a comprehensive solution for financial management within the industry, filling a gap in the market for a robust cloud-native product. The solution offers detailed job costing, revenue recognition, retention billing, and integration with project management tools such as Sage Construction Management to enhance workflow efficiency.

Steve Masters, Managing Director at Accord Consulting, expressed enthusiasm for the product's launch in the UK: "We're excited for the introduction of Sage Intacct Construction to UK businesses. The construction industry has long needed a cloud-native financial management solution tailored to its challenges. While specialised solutions and mobile apps have helped address some of the industry's connectivity needs, many businesses still struggle with a lack of integration that results in data silos and double data entry. Having an end-to-end cloud system helps construction firms improve efficiency and profitability in an increasingly complex market."

Further advantages of the system include improved financial visibility, reduced administrative time, and more efficient cash flow management. Businesses can expect to increase time spent on analysis and strategy by up to 75%.

Debbie Mitchell-Ball, Group Finance Manager at 3R Group, shared her experience with the new technology: "We chose Sage Intacct Construction because it was the only technology that could meet our needs - from managing leads and quotations to project completion in one system. It streamlines spend and can track profit and loss per project, it consolidates documents and eliminates the need for multiple spreadsheets. We also have real-time, integrated data at our fingertips, which means we can now generate reports in minutes instead of hours."

Sage Intacct Construction is now available to UK businesses, offering them a solution to leverage technology in addressing current industry challenges effectively.