The software company has faced a challenge in this market from Acumatica, which introduced its Construction Edition in 2018 and signed up most major Timberline resellers quickly. However, Sage Intacct says its new product will bring the market a construction package with features it is known for, such as multi-entity consolidation, along with dimensional reporting.
Stuart Langer, director of product management, financial applications, said recently the construction market has been resistant to cloud software. But that is changing. ”It an industry that is relatively new to cloud adoption,” Langer said. “We are now seeing a generational shift” as new generations take over construction businesses, he continued.
The new Construction package is first aimed at “general contractors with limited self-performing capabilities as well as production home builders,” Langer said.
Expansion is partly in the hands of third parties. For example, Langer said the Intacct payroll partners do not yet have fully construction complaint applications. By year’s end, Intacct will have introduced “big things around retainage and change management in the latter part of year,” Langer said. He also expects “by then we will have Sage Estimating fully integrated.”
That will enable Sage to address broader kinds of general contractors and specific subcontractors with the new application.