Case Study — GTM Builders

COMPANY OVERVIEW

GTM Builders — A premier home builder

Established in the year 2000, GTM Builders has emerged as a premier home builder centrally based in Tooele Valley, Utah. GTM is committed to delivering a seamless and enjoyable experience for individuals embarking on the journey of building a new home.

CHALLENGES

Navigating Intercompany Accounting: GTM’s Search for the Right Solution

In the realm of construction financial management, GTM grappled with the ongoing challenge of finding the right accounting solution to support their growing business. Frustrated with the limitations of QuickBooks desktop, GTM transitioned to NetSuite in anticipation of a more robust solution capable of providing the consolidated financials required to support their multi-entity organization. Despite NetSuite’s promises of advanced intercompany accounting and multi-entity reporting capabilities, GTM soon discovered that the allure of these features came at the hidden cost of fees and customizations. While NetSuite exhibited transaction-handling capabilities, it required cumbersome workarounds, and additional solutions were only offered as expensive add-ons, prompting GTM to seek a more efficient and cost-effective alternative.

Their challenges extended to the accounts payable (AP) side, where GTM encountered additional hurdles related to intercompany functionality within NetSuite. The manual management of intercompany activity, involving multiple entries, significantly increased the workload for their accounting team. Determined to discover a user-friendly, cloud-based financial management solution that genuinely supported their business needs, GTM began the search for a new software solution.

OUTCOMES

A Project-Based Solution for GTM’s Inter-entity Accounting Needs

After acknowledging the challenges posed by their existing financial system, GTM turned to CBIZ CompuData for a solution that could effectively address their intercompany accounting and multi-entity reporting needs. CBIZ CompuData introduced Sage Intacct Construction, a robust and streamlined solution created specifically for construction companies, customized to fulfill GTM’s specific inter-entity accounting requirements.

Recognizing the unique needs of GTM as a home builder, CBIZ CompuData also highlighted the significance of accurate project reporting for precise cost analysis, making the customized reporting features within Sage Intacct a significant benefit for GTM. This enabled them to monitor, manage and automate tedious and critical home building processes from material suppliers, subcontracted work scopes, change orders, and customized financial reporting in one centralized ERP.

With over 30 years as a Sage partner, our team of Sage Consultants were able to provide detailed insights into functionality, Sage system expertise, and industry specific knowledge, ensuring GTM maximized the full potential of Sage Intacct. CBIZ CompuData not only helped with the decision to move to Sage Intacct Construction, but we performed the implementation, seamlessly transitioning GTM to a project-based software with advanced intercompany functionality tailored to their specific needs.

RESULTS

A Seamless Transition to Sage Intacct Construction

The successful implementation of Sage Intacct Construction for GTM has brought transformative results, significantly enhancing various aspects of their financial operations and strategically positioning them for sustained growth. The frustrations experienced with past systems, from QuickBooks to NetSuite, have been replaced by a newfound sense of stability and efficiency. CBIZ CompuData’s in-depth knowledge ensured a seamless migration, while the system’s user-friendly menu structure saved valuable time in daily operations, making this transition the easiest and most rewarding among GTM’s experiences with accounting solutions. Here’s a closer look at the benefits they’ve experienced:

• Sage Intacct Construction significantly improved GTM’s intercompany functionality and consolidations, simplifying complex processes.
• The system has improved GTM’s multi-entity reporting, providing a consolidated and transparent view of financial data across various entities
• The automation of intercompany transactions, as opposed to the previous cumbersome process with NetSuite, has resulted in notable time savings.
• Sage Intacct Construction simplified and streamlined GTM’s AP processes related to intercompany functionality.
• The system seamlessly handles intercompany activity on the back end, relieving the team from manual data entry. This simplified AP process not only saves time but also reduces the chances of errors, contributing to a more accurate and streamlined financial workflow.
• Customized reporting features provided by Sage Intacct Construction empowered GTM with critical insights into project costs. With a heightened need for precision in project reporting, especially in the current market dynamics with evolving interest rates, GTM now possesses the capability to delve into detailed insights.