With NetSuite, construction companies can streamline their operations and benefit from a comprehensive suite of tools to manage projects effectively. Key Benefits of using NetSuite for Construction Companies:
Drive successful projects with real-time collaboration
Estimate project profitability with ease
Create revenue and cost estimates to manage your financials
Utilize project templates to easily set up projects
Track all financial metrics to stay on top of your budget
Manage subcontractors for streamlined project management
Stay ahead of Work In Progress
Keep track of important documentation for easy access and organization
10 Reasons Why Companies Choose to Work With Our NetSuite Team
AIA Invoicing & Schedule of Values
NetSuite offers comprehensive functionalities for AIA invoicing for construction companies. Here are some of the key features:
- Sources Billing percentage of completion from Projects, making AIA invoicing effortless.
- Milestone Billing or manually setting quantity on line items – the choice is yours.
- Generate Application for Payment and Continuation Sheet directly from Invoices or Projects.
- The ability to export an Excel type of AIA Invoice – giving you more customization options.
With these features, AIA invoicing has never been so convenient. NetSuite makes the entire process hassle-free, leaving you with more time to focus on your core business operations.
Retainage Management for Invoicing & Payables
NetSuite makes managing your finances easy with comprehensive tools that help you stay on top of your accounts and receivables. Here are some of the key features for financial management:
- Manage unbilled receivables and collections preferences at various levels, from Sales Orders to Invoices and Projects.
- Automatically calculate remaining retainage for partial claims, making the process more efficient.
- Provides AIA output for Retainage claims, saving time and effort for your team.
- Easily set Order or Line level % of Retainage to customize your workflow and meet your business needs.
NetSuite is designed to help construction companies stay on top of their finances with ease. With these features, managing your accounts and receivables has never been more straightforward.
Simplify Change Orders with NetSuite
Managing change orders can be a daunting task, but with NetSuite, construction companies can easily streamline their workflows. Here are some of the key features for change order management:
- Easily manage change orders through email and status – whether it’s a Rejection, Request for Modification, or Approval, NetSuite has got you covered.
- Perform Change Orders through the DocuSign routing process, making it easy to store and manage these documents in one place.
- Manual overrides are available for instances when you need to make a change outside of the standard workflow.
- Change Orders for AIA output capability, so you can ensure that your financials are accurate.
- Create Change Orders on a Project or Sales Order level, making it easy to keep track of all your change orders in one place.
NetSuite makes the change order process straightforward and easy to manage, saving you time and effort in the long run.
Streamlining Revenue Recognition with NetSuite
Managing revenue recognition can be a challenging aspect of running a construction business. But with NetSuite, construction companies can automate this process, saving time and effort. Here are some of the key features for revenue recognition:
- Automatic calculation of Revenue based on chosen Activity Code(s), giving you more control over how your revenue is allocated.
- Choose between Labor only or Labor and Materials to better understand your project’s financials.
- Uses Project Percent Complete Override via ARM, making it easy to keep track of how your projects are progressing.
- The ability to keep track of Percent Complete Override changes, ensuring that your revenue recognition is accurate and up-to-date.
NetSuite takes the hassle out of revenue recognition in construction. With these features, you’ll have better control over your financials and more time to focus on your core business operations.
Seamlessly Connect Procore and NetSuite with Integration
Integrating Procore with NetSuite can benefit construction companies in numerous ways. Here are some of the key features of Procore to NetSuite Integration:
- Accounting teams can access real-time field data from Procore and synchronize it with NetSuite, eliminating the need for manual double-entry and siloed systems.
- Stay free from costly errors by eliminating duplicated data entry.
- Protect your bottom line with visibility into unforeseen changes, ensuring that you can proactively address any potential project issues before they become bigger problems.
- Monitor trends and the financial health of projects, ensuring that your construction company is always operating at its fullest potential.
With NetSuite’s integration with Procore, construction companies can collaborate more effectively and manage their finances with ease. Say goodbye to manual data entry and get real-time access to important financial data.
NetSuite is the #1 cloud ERP system on the market that helps 34,000 businesses run more efficiently and cost-effectively.
