Excel has long been a valuable tool for Real Estate Developers since its inception, but the program currently functions as more of a puzzle piece rather than an end-to-end solution for construction projects. Tracking projects on spreadsheets presents numerous issues for finance professionals and project managers.
Primarily, functions such as job costing are rudimentary, and plugging data into cells requires time-consuming manual entry. Inputting labor and materials costs in this fashion also subjects large projects to overestimation or underestimation, which could result from even a single misstated value or errant formula.
In this scenario, the inability to catch inaccurate projected expenses can lead to narrower realized margins, which will have a negative impact on the bottom line for owners or investors.
Also, since there are numerous ways to track job progress, each internal controller or CFO will likely have their own method of recording essential project information. Should any of these stakeholders exit the organization, more time must be spent on either learning how existing data flows work or redeveloping a new approach to land development accounting from the ground up. Valuable resources must then be allocated to a process that should be consistent as well as easy to learn and use.
A Solution to the Problem
Anton Systems gives Real Estate Developers a better way to manage projects with precision and accuracy. Budgetrac software eliminates the need to piece together multiple platforms in order to keep a project on track and on budget.
With a good software solution, all the accounting activities update the robust general ledger in real-time, enhancing your decision-making process with accurate, fresh, relevant data. An integrated software solution will eliminate costly errors associated with those programs and allow for easier day-to-day for your development projects.
From detailed reporting capabilities to estimated cost-of-completion snapshots to updates that track cost and income in real-time, Budgetrac covers all the bases for a successful development project.
Budgetrac Offers a Fully-Integrated, Cloud-Based Solution
Budgetrac is a modern solution that manages large amounts of data with ease; because it is software that is Cloud-based, your data is easily accessible everywhere, from office to job site, from desktop to mobile devices.
You’ll no longer have to settle for a disjointed software experience or unreliable Excel spreadsheets and can instead utilize an integrated accounting solution that requires no bridging information between programs.
Wondering what other features come with Budgetrac?
- Budgetrac has intelligent reporting to view all your projects in a single report and enables you to see both project cash flow and profit/loss on a single report.
- Budgetrac easily handles all aspects of real estate project development, from predevelopment cost to final funding and beyond.