Keeping track of the various complexities in the construction supply industry can be a daunting task. For example, there may be multiple transactions over the course of a contract that must be billed separately. If you lose track of a step, you could wind up holding the bill for services you rendered.
There are many forms of accounting software that can be quite effective at handling complex billing cycles. However, as a distributor or manufacturer of architectural opening products, door and hardware, and many other commercial building materials, you need robust accounting that is designed to fit your specific needs. That’s where an industry-tailored ERP solution can help.
“Progress Billing” is about much more than basic accounting software
ContractERP offers comprehensive accounting tools integrated into our ERP (enterprise resource planning) software. You’ll get general ledger, accounts receivable, accounts payable, and budgeting. However, the financial tools we offer go much further than that.
We give you dynamic “Progress Billing.”
Essentially, you’ve got to be able to bill for every step of each of your projects. That includes special orders and project based sales. Overlooking any part of the billing cycle can wind up costing you big. With progress billing from ContractERP, you have a centralized platform with which to manage all your billing. It’s also integrated with your other processes, so you can compare billing to finances, inventory, delivery, and other aspects of your business.
ContractERP helps you:
- Keep track of each and every accounting transaction
- Shorten your average collection period
- Make adjustments on the fly, without throwing a wrench in your collections process
- Manage your billing for projects from start to finish
- Make informed predictions so you can effectively manage inventory
- So much more
Progress Billing is a Valuable Customer Service Tool
The customer service aspect of accounting and billing is often overlooked. However, with an ERP solution you can easily access billing details on the fly over the phone with clients. That’s certainly much better than “I’ll have to get back with you on that.”
In addition to providing a platform for integrated accounting, ContractERP progress billing allows you to automate many of the tasks you used to have to input manually. For example, billing information only needs to be recorded once instead of every time an invoice is drafted.
View your company’s “Big Picture” finances
Perhaps the best benefit of ERP progress billing is the ability to easily view your company’s “big picture” finances. This aids in setting quarterly and annual budgets, making strategic decisions, and guiding your company toward higher growth and profitability for years in the future.
Before implementing an ERP solution for your company, it’s important to understand how you’ll be generating a positive return on your investment. We can help with that—to learn more about ContractERP’s dynamic billing software, request a demo today!