Right Software, Wrong Execution

An electrical contractor enjoyed continued growth over the years.  As they grew, they wanted to branch off into different areas of electrical contracting.  Three entities were created, while they shared the benefit of a single accounting department.  The contractor implemented Timberline accounting software, but as the operations grew the accounting department struggled to keep up with the reporting needs of the company.  The financial system that they heavily invested in was not set up optimally and rather than being a part of the solution, it was a big part of the problem.  Financial reports were six months behind.  The owners, auditors, surety, and bankers were increasingly frustrated and concerned.  The owners had to make changes, and make them fast.
 

• Solution
  • Re-configuration of Timberline
  • Standardization across all entities
  • Implementation of paperless AP approval system
  • Reallocation of tasks and training provided to current staff
  • Implementation of weekly job cost meetings
  • Resources provided to quickly get all data input, current, and reconciled

 

• Results
  • 23% reduction in accounting related overhead costs
  • Financials for all entities provided on time each month
  • Accurate and timely job cost information
  • Management given the information to make operational decisions