Sage Announces New Tool to Help Contractors Automate Reporting for the CFMA Financial Benchmarker Survey
Contractors save time and improve accuracy by importing financial data directly from Sage 300 Construction and Real Estate into CFMA
Sage, the market leader in cloud business management solutions, announced an integration between Sage 300 Construction and Real Estate and the industry leading construction benchmarking tool, the Construction Financial Management Association (CFMA) Financial Benchmarker Survey. Powered by Event 1 Software’s Office Connecter Query, the integration allows users to automatically populate the industry leading Financial Benchmarker survey with their own accounting data from Sage 300 Construction and Real Estate.
Armed with a company’s own financial data, the CFMA Financial Benchmarker provides an interactive, side-by-side comparison of a construction firm’s financials versus the industry benchmarks. Contractors can compare financial data such as company net income as a percentage of revenue, company days in accounts receivable or accounts payable, and company performance compared to best-in-class contractors.
“Many of our customers complete the CFMA Financial Benchmarker Survey each year so we developed a way for them to complete the survey quickly and more accurately,” said Dustin Anderson, Vice President of Sage Construction and Real Estate. “This offering is the latest in our commitment to helping construction firms improve their financial health. We have partnered with CFMA since 2013 to deliver high quality, easily accessible educational programs to CFMA members and the construction industry overall.”
The Sage template uses Event 1 Software’s Office Connector Query and Financials modules to pull data from Sage 300 Construction and Real Estate and populate the survey in Microsoft Excel. Users map each of their Sage 300 CRE base accounts to the respective CFMA Financial Benchmarker input cell to ensure the right data is being used for each section of the survey. The mapping is a one-time process meaning contractors can re-use it each time they need to fill out surveys for additional companies. It will also be saved to re-use each year.
The 2019 CFMA Financial Benchmarker Survey is now open and will be available until May 17, 2019.
Sage Construction and Real Estate is the market leader for financial, project management, and estimating systems used by more than 50,000 construction and real estate companies in North America. With a whole spectrum of solutions from back-office accounting to cloud-based collaboration tools, Sage helps construction companies to manage more than 500,000 jobs, 7 million subcontracts, and 622,000 rental units each year.