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Accounting Industry Insight Job Costing Resources Trends & Technology

Jonas Premier Listed in Top 10 by SoftwareAdvice

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In a recent article, SoftwareAdvice.com listed Jonas Premier amongst the top ten most popular construction software products. The three metrics used to determine the rankings were, user adoption level, search traffic, and social media presence weighted by 75%, 14% and 10% respectively. Of these companies, Premier ranked the highest of the providers that offer true cloud, combined integrated project management and accounting software.

 

As a general contractor, moving to a cloud-based project management and accounting software is the first step towards expanding the scope of your business. By moving to an electronic cloud-based, integrated solution you can expect a significant improvement in job costing and tracking, greatly reduced double entry, and data access in any situation. Moving to cloud will keep you relevant in the ever-evolving world of construction and provide you with an edge against the competition.

 

Jonas Premier is crafted on a modern software architecture that is both flexible and simple to use. Some of the features that Premier offers include sides of Accounting, Job Cost, Progress Billing, Subcontract Management, Financials, Customer Portals and MS Projects Integration just to name a few.

 

About Software Advice

Software Advice is a trusted resource for construction software buyers. They provide detailed reviews and research on thousands of software applications.

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Jonas Premier Construction Software Continues to Grow and Increase Client Portfolio

Highway road going up
Highway road going up as an arrow

Brookfield Multiplex has been delivering landmark property and infrastructure assets for more than 50 years. They are a leading international contractor with a focus on sustainable growth. Their resume includes 852 projects completed with $61 billion in earnings, over 630 awards, in 7 countries. A few examples of locations where they have completed projects include the Hilton Surfers Paradise Hotel and Residences in Australasia, the Trump International Hotel & Tower in Toronto, and the home of the Chelsea Football Club, Stamford Bridge Stadium in London.

 

According to Taylor Rogers, Project Manager at Brookfield Multiplex, the reasons they decided to partner with Jonas Premier were:

  •     Ease of use and very functional.
  •     Cloud based technology, with no hardware or software required.
  •     Diverse functionalities in one solution, such as job costing, invoicing, inventory, and PO’s.
  •     Modern graphics and layouts, which are easy to operate and navigate.
  •     Easy integration with current systems and highly scalable.
  •     Consistent reports that mimic current reports requested.

 

Cityzen Developments is one of the Greater Toronto Area’s most recognized builders with a passion for design. Their urban communities are highly sought after and their award-winning architects and designers are always pushing boundaries. Their mission is to make each community feel comfortable, convenient and refined. Projects they have worked on include the Ion Condos, L Tower, Garrison Point, Pier 27 Tower, and Absolute World to name a few.

 

Karoline Lapko, Vice President of Jonas Premier Construction Software, is pleased with the continuous growth and advancement of Jonas Premier, “Through continually partnering with new clients, our industry leading cloud construction software solution helps us further solidify our place within the market. With diverse clients such as Brookfield Multiplex and Cityzen Developments, it is quite evident that our solution meets the needs of a wide range of construction businesses. Jonas Premier has the necessary functionalities to provide our clients with a competitive advantage and truly help take them to the next level.”

 

About Premier Construction Software

Premier Construction Software is a fully integrated, cloud-based construction accounting software solution ideal for General Contracting businesses. Running in the cloud, it provides you with the ability to access and input key business information anytime, anywhere. It is built on modern software architecture, fully flexible and is simple to use. The complete offering for contractors includes: Accounting, Job Cost, Subcontract Management, Billing, Progress Billing, T&M Billing, Financials, Project Management, Bank Management, Purchase Order, Inventory, Time Entry, Integrated Document Storage, Field Mobile Apps, and Vendor and Customer Portals.

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Top 5 Most Beautiful Constructions Across the Globe

New York Skyline
New York Skyline

Premier’s goal is to help make the world a more beautiful place. We do this through assisting Contractors to complete their jobs efficiently and effectively. Here are our top 5 inspirational constructions that inspire our team and hopefully will inspire yours.

Regatta Hotel – Indonesia: This impressive hotel was designed by Atelier Enam, based on the nautical theme, where the centerpiece is an aerodynamically shaped hotel bound to be one of the most striking landscape features which overlooks the Java Sea

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Songjiang Hotel – China: Located in the city of Shanghai in the Songjiang district – this 400 bedroom resort is situated in a 100m deep quarry. Some features include sport facilities, cafes and an underwater public area where guestrooms will face an aquarium wall of aquatic life.

5

Russia Tower – Moscow: This skyscraper was planned for the Moscow International Centre. Construction began in 2007 and is expected to be completed in 2016. This tower will stand 1,180 ft. and will contain 118 floors, 101 elevators and will hold a maximum capacity of 30,000 people.

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Mecca Royal Tower – Saudi Arabia: This building complex in Mecca is part of the King Abdulaziz Endowment Project that strives to modernize the holy city. This complex holds world records, such as the tallest hotel in the world, tallest clock and also the world’s largest floor area.

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Zhuhai Macau Bridge – Hong Kong: This bridge is an ongoing construction project which will consist of a series of bridges and tunnels that will connect Hong Kong, Macau and Zhuhai – the three major cities on the Pearl River in Eastern Asia. The proposed 50 km link is expected to cost a total of $10.7 Billion USD. The project is expected to complete in 2016.

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Premier is constantly working towards making the world around us, more beautiful…We do this by:

  • Helping Contractors stay organized which leads to faster job completion.
  • Premier helps Owners and Project Managers keep track of their costs and billings on all jobs, making them more efficient.
  • We also take pride in the unique way we have integrated job costing and accounting which makes double entry to record these components obsolete.
  • We have ensured that our software is available anywhere around the world by creating a product that is true cloud, this way, anyone requiring access to a job can have it, no matter where or when they require information.
  • Premier is also extremely flexible and completely configurable which means any General Contractor can embrace the software and make it their own.

Premier’s goal as a software provider is to assist Contractors in any way they can to conduct business efficiently and effectively which in turn helps to increase our world’s beauty, one project at a time.

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Job Costing Resources

Importance of Job Cost Reporting

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Valuable job cost reports provide crucial information about the current status of a job and can help estimate how you will finish on each job from a cost and revenue perspective. If you have many jobs in progress it can be difficult to manage, which is why it’s important to understand the reports so you can quickly identify exceptions and job overruns before it’s too late and address them accordingly.

In order to ensure you have real-time reports, you will require a truly integrated construction accounting and job costing software solution. It’s important to map out electronic workflow processes to ensure accounts payable invoices, purchase order and subcontract commitments are entered in as quickly as possible and distributed to the proper job allocation. If there are many jobs in progress, there is a strong chance that costs will be incorrectly assigned, but the function of the job costing system makes that highly auditable.

Job costing provides discrete “buckets” of information about each job so that the accountant can allocate costs directly to the job and division code, commonly referred to as the cost item. Advanced software solutions such as Premier provide cost item grouping and up to five levels of job cost breakdown for greater transparency.

If a job is expected to run for a long period of time, then the cost accountant can periodically compare the costs accumulated in the bucket for that job to its budget, and give management advanced warning if costs appear to be running ahead of projections. This gives management time to get costs under control over the remainder of the project, or possibly to approach the customer about a billing increase to cover some or all of the cost overruns. A considerable amount of costing precision is required especially when dealing with cost plus contracts where the customer pays all costs incurred. In most companies, controllers may cost code a job incorrectly which can misrepresent the job cost breakdown. For situations such as that, electronic approval systems are becoming a must have when evaluating job cost accounting software solutions.

Another advantage of utilizing proper job cost tracking is that you can better ascertain whether specific jobs are desirable to pursue in the future or what changes should be made next time bidding on similar work. It can be time consuming to enter in all the costs to the proper cost items but the introduction of mobile apps and proper job cost accounting software allows for real time costing and makes it easier to capture the information, thus leading to greater efficiency in the long run. The lack of detailed job cost reporting is why companies end up moving away from smaller accounting focused programs such as QuickBooks.  Here are a few sample reports that you should be able to run directly out of your accounting job costing system to determine variances, work in progress, and if you are over or under billing. Click HERE to see how Jonas Premier can help your business!

 

Job Cost Reporting #1

Job Cost Reporting #2

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Resources Trends & Technology

Secrets of Construction Software – Cloud vs Traditional ERP

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Construction Software has become more powerful and there are many more options available in the market today. How do you decide what is best for you and how can you hedge your risk? Well, it’s not that easy! It’s important to educate yourself on which questions are crucial to ask so that you can easily differentiate the old from the new and identify software that adds real value to your organization.

 

The main challenge is finding an integrated accounting and job costing software that is robust, powerful, and easy to install and use.  With the introduction of cloud, software companies are challenged to move from traditional ERP to SaaS based models. To build software that is true cloud requires a significant investment. Most construction software companies do not have the development resources and required investment to compete in the cloud market so they take shortcuts such as using a third party hosting provider to host their software in the cloud. This is not a true cloud solution but rather dated technology camouflaged in a new technology framework.

 

Traditional ERP software contracts are structured in a way that locks customers in and increases the risk for businesses. It’s important to review the contract in detail so you don’t invest your hard earned dollars in software that is dated, comprehensive and can take several months to install. Also, traditional ERP software packages specialize in customizations and target multiple verticals. This results in numerous flags which lead to lengthy and time consuming installs.

 

Additionally, traditional ERP software solutions charge a high upfront license fee and lock you into a contract that is very difficult to terminate. In hindsight, they have very little incentive to provide a quality product and exceptional customer service. Under the new model – SaaS, there is no contract which significantly mitigates the risk for your business. It also holds the software vendors accountable to deliver what was promised during the sales demo – a quality product and exceptional customer support.

 

The differences between true cloud and traditional hosted ERP solutions quickly become apparent when you calculate the cost savings. Traditional ERP software vendors try to compete in the cloud market by hosting their software using a third party provider. There is an associated hosting fee and Citrix/VPN are required to run the software application. Not only is this costly but it is very time consuming, slow and usually there are connection issues and delays. Also, servers must be upgraded, maintained and require in house I.T support for back-ups, storage, corruption etc.

 

True cloud does not require a server or hosting fees and all back-ups and upgrades are included.

 

Most importantly, SaaS based companies have shifted their focus on customer satisfaction by taking the time to learn about construction businesses.  Establishing a meaningful partnership drastically positively impacts development and advances the software.  Most traditional ERP solutions set a lower budget for the number of training hours required for an implementation in order to make the quote appear more favorable. It is important to gain clarification around this to ensure an accurate number of hours is quoted. Most vendors charge for additional training whereas most SaaS based vendors are rolling out unlimited training models to ensure high adoption and satisfaction rates among customers. Typically users of SaaS based systems are using over 80% of the software’s capability whereas users of traditional models are left to train themselves and end up using less than 50%.

 

As you can see, the two solutions – true cloud versus traditional ERP – are drastically different. It’s important to take into consideration more than just the purchase price. If you make the wrong decision, it can disrupt your work environment, deter employees from change and end up costing you time and a significant lost investment. Choosing the right software is critical to a company’s success. If chosen correctly, it can increase productivity, centralize your team, provide meaningful reports and help you grow your business with less resources.