Hitting the Limits of Excel: Overcoming Challenges with ProNovos

Avi quickly recognized the limitations of relying on Excel and even ERP systems like Sage Intacct to manage the complexities of his construction business. Three major issues stood out:

1.
Complexity and Cumbersome Systems

As Envision grew, Excel’s macros and advanced features became cumbersome and error-prone. “I’ve taken Excel the distance,” Avi notes, “but you’ll eventually hit a point where it’s a cumbersome system sensitive to errors.” While Excel may suffice for simpler business models, it becomes unmanageable as construction projects scale in size and complexity.

ProNovos addresses this challenge by offering a user-friendly interface that eliminates the need for complex workarounds, reduces the risk of errors, and makes financial data more accessible and actionable.

2.
Inaccurate Revenue Tracking

In construction, accurately tracking project start dates and recognizing revenue is critical. Excel struggled to handle these timelines, leading to inaccuracies that could have profound financial implications.

ProNovos overcomes this issue by providing construction-specific tools that ensure accurate revenue tracking. This allows Envision to manage timelines effectively and avoid the financial pitfalls associated with delayed or incorrect revenue recognition.

3.
Inadequate Work-in-Progress Tracking

Accurate WIP tracking is essential for understanding project progress and financial standing. However, Excel wasn’t designed for this, leading to unreliable data that hindered informed decision-making.

ProNovos offers advanced WIP tracking capabilities that integrate seamlessly with Envision’s existing systems. It delivers reliable data that empowers the team to make informed decisions and maintain control over project outcomes.

Recognizing these limitations, Avi sought a more robust solution in ProNovos, which provided the financial visibility and control necessary for Envision’s continued growth and success.

Advanced Construction-Specific Reporting and Forecasting

While Sage Intacct served Envision well for tracking resources and WIP, it fell short in effectively presenting the information. Avi found Sage Intacct’s enterprise-level dashboards overly technical and not helpful for problem-solving. In contrast, ProNovos offered a user-friendly interface that simplified complex financial data, making it easier for executives, managers, and project teams to act on what matters most.

Transforming Month-End Close and Strategic Planning

ProNovos has revolutionized how Envision approaches month-end close and strategic planning. “In any business, reviewing P&L statements at the end of a period provides a clear view of past performance, but it doesn’t allow for real-time decision-making,” says Avi.

With ProNovos, Envision shifted from relying solely on historical P&L reviews to using real-time forecasting as the primary driver for decision-making. “Our focus has changed to continuously updating our forecasts based on current data, helping us adjust our strategies in real-time,” Avi explains. This proactive approach has streamlined Envision’s internal processes and improved its competitive positioning. “We use this data to show clients how effectively we track project progress, which has set us apart from competitors and helped us secure more jobs,” Avi adds.

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ProNovos provides us the clarity and insight to identify problems and determine actionable solutions. It delivers construction-specific forecasts and reporting in a straightforward, accessible way, empowering our team to address issues effectively.

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How are you going to improve something that you don’t measure, especially measuring properly? ProNovos is doing that for us.