Why Fast and Accurate Financial Reporting is Critical for Construction Firms

Why Fast and Accurate Financial Reporting is Critical for Construction Firms Financial reporting in the construction industry commonly focuses on the need for historical project information for informed decision-making on costs and the need for analytic and reporting tools to capture critical, realtime data from ERP systems such as Viewpoint, Sage, and COINs to address timely cash flow issues. According to a recent 2020 Engineering and Construction Industry Outlook report by Deloitte, “…cost pressures, labor shortages, and trends toward fixed-bid projects…are likely to persist in the future. In 2020, the industry will focus on mitigating these challenges while capitalizing on trends that help improve operations and deliver a competitive advantage.”

Via: https://insightsoftware.com/blog/infographic-why-fast-and-accuratefinancial-reporting-is-critical-for-construction-firms/