Fall 2011 issue of Horizons

company’s accounting system in order to improve management’s decision-making ability. While applications such as Microsoft Excel represent the most basic business intelligence tools, many contractors have found significant added benefits in implementing more advanced business intelligence tools to their financial management systems. Such tools can be integrated with a company’s existing accounting system in order to: • Query existing data and generate more meaningful reports for project management • Generate alerts to users when certain triggering events occur (e.g. jobs going over their predetermined cost budgets) • Conduct on-line analytical processing (OLAP) for large quantities of data

Many providers of software and database solutions, such as SAP, Oracle, and IBM, have recognized the importance of such business intelligence tools and have created advanced applications that are designed to be integrated with a company’s current accounting system. They have done this in response to the growing demand for companies to better analyze and understand the information accumulated within their own accounting systems. In today’s challenging environment of excess capacity, it is critical that contractors remain competitive within the marketplace. In addition to cutting costs, companies should consider the potential benefits of certain technologies and process improvements. The potential benefits of enhancing operational efficiencies, productivity improvements, and customer service should be carefully evaluated and measured against the costs involved.

• Perform analysis to create graphical representations of underlying data or “dashboards”

RubinBrown’s Contractor Services Group We provide services to general contractors, specialty subcontractors and related companies in the construction industry.

Frank Hogg, CPA - St. Louis Partner-In-Charge Contractors Services Group frank.hogg@rubinbrown.com 314.290.3413

Glenn Henderson, CPA, CFP - Kansas City Partner Contractors Services Group glenn.henderson@rubinbrown.com 913.499.4429

Jim Massaro, CPA - Denver Partner Contractors Services Group jim.massaro@rubinbrown.com 303.952.1211

Matt Finke, CPA - St. Louis Manager Contractors Services Group matt.finke@rubinbrown.com 314.290.3365

www.rubinbrown.com

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