In 2008, businesses felt the effects of the worst economic downturn since the great depression. The impact was global and every industry sector was affected. For those in the construction industry, this was a particularly difficult time. Many firms were forced to change the way they operated and adapt to the situation in order to survive. Boost in demand and lower interest rates means that conditions are now right for growth in this sector after years of suffering. The industry is in recovery and those working within construction can finally feel optimistic about the future.
The question is, with the promise of a period of sustained growth, are their IT systems built for profitability?
One problem that is commonplace amongst our clients within the construction industry is how difficult it can be to complete construction projects on time and within budget. When you consider that the average construction project suffers 150% cost overruns and completes more than 175% late, there’s clearly a great need for a solution that can help to deliver projects on time and within budget – and in turn, transform their profitability.
It is vital that construction companies that are looking to maintain competitive advantage and ensure maximum return on investment, opt for IT solutions and software that:
Is completely flexible and totally customisable to suit the needs of their business
Enables projects to be delivered on time and within budget
Is scalable to support changing demands and strategies
Is compliant with the HMRC Construction Industry Scheme
Discover software that keeps your IT on a level
Pegasus CIS provides complete control over all aspects of contracts management, from costing and timesheets through to payment applications, VAT invoicing and cash receipt matching. Fully integrated to the Sales, Purchase and Nominal Ledgers, Cashbook and Payroll, Pegasus CIS conforms to the requirements and regulations of HMRC’s Construction Industry Scheme. Pegasus CIS recognises the complex business requirements of the construction sector, offering an unparalleled level of management control over contracts and subcontractors. It integrates with Opera 3, Opera II, Sage 50 and Sage 200.
It is a truly integrated solution where payments, receipts, retentions, cashflow and management reporting are all controlled from within Pegasus CIS, to give you a central place to manage your contracts. Ease of use coupled with some of the most powerful reporting tools available will transform the management of your contracts. To see how this software can help your business grow, contact one of our experts on 0845 456 0050.