As a company with a dispersed presence, Gideon Constructors addressed the growing need for centralizing project financial data and gaining quicker time-to-insight across all projects and the business. Frequent travel and the dynamic nature of construction operations required a cohesive platform that simplified the rigorous reporting demands and put timely information just a few clicks away at everyone’s fingertips.
President Brett Diamon pinpointed the excessive time dedicated to manipulating Excel spreadsheets and hunting for data in the accounting software as a hindrance to productive decision-making. In particular, the rigorous process of compiling data taking 2–3 hours per job to create the Work-in-Progress (WIP) Report consumed valuable time, slowing efficient communication to external stakeholders, like the surety.
Empowerment with Real-Time Financial Workflows & Analytics
In early 2023, Gideon Constructors integrated ProNovos into their operations, ushering in a transformative era of streamlined financial management. ProNovos provided an integrated platform that allowed easy access to financial data from any location. Diamon used the Executive dashboard, WIP Report, and Job Costs Report as instrumental tools that expedited financial analysis and projections. He noted, “ProNovos provides quick, easy checks on our financials versus having to hunt down the data then perform extensive calculations.” The shift from manual data manipulation to real-time insights significantly reduced the time spent on report preparation and provided a quick gauge into vital financial metrics. Diamon noted in regards to some of the out-of-the-box dashboards offered such as the financial ratios that it’s been invaluable to simplify complex financial concepts for the construction industry. He added, “It’s a good refresher and being able to translate it from CPA speak into construction speak was something that was important to not just myself but our folks.”
Gaining Peace of Mind into Strategic Decision-making
The adoption of ProNovos resulted in tangible benefits for Gideon Constructors. Diamon said that the platform enabled him to project profits, thereby facilitating informed decisions regarding investments in personnel and equipment. “ProNovos gives me the ability to see our projected profits which helps us with making decisions to invest in people and equipment. I can see if August or July is going to be a great month and I’ve got an opportunity to hire.”
This accessibility of having real-time data a few clicks away provides Brett with peace of mind and empowers strategic financial decision-making. Importantly, the ability to monitor estimated cost-to-complete versus actuals aids in cost control. “Having all this information at your fingertips is very viable to me,” he stated. The company’s intent to integrate account receivables data within ProNovos underscores the platform’s role in optimizing cash flow management and collections.