Finley Structures Limited are a family owned company providing structural steelwork to the construction industry. Whilst providing a wide range of structural solutions, the company specialises in the production of portals, trusses, beams and columns.
Finley Structures have been Eque2 customers since 2013, using a wide range of our products including Construct for Sage 50 Accounts, the Intelligent Construction Analysis reporting tool and Invoice Capture module. Due to company growth Finley also opted to upgrade their Sage 50 Accounts to Sage 200 Accounts in 2017 to provide them with greater control over their financials.
Managing construction-specific processes and reporting
Kelly Vasey, Financial Controller at Finley Structures discusses how they use Construct, “Eque2 allows us to manage and track our CIS processing effectively, we are able to raise applications, copies of payment certificates and quickly and easily see what has been paid and what retentions have been held. We can also manage our procurement effectively, the software allows us to scan documents with unique barcodes which are then automatically attached to transactions in Construct, leaving no room for error.”
Kelly continued, “The reporting tool also adds great value, we added ICA (Intelligent Construction Analysis) which allows us to tailor our reports and analyse our data in detail. We can easily track our committed costs and see what is being held back from our customers. Another report that works really well for us is the work in progress report, this is something I use often and really benefit from.”
Supporting growth with Sage 200
With Finley Structures experiencing growth within their business, Kelly and the team decided it was time to look at upgrading their accounts solution to a system that would still integrate with their Construct software.
In 2017, they made the decision to upgrade to Sage 200 Accounts to gain tighter control over their finances. Kelly Vasey explains, “Sage 50 Accounts was great but as our business grew we encountered some restrictions around how we managed our financials, this led to us having to do our payment runs manually. Within Sage 50 Accounts we were having to open each supplier and select which one we wanted to pay and how much, in Sage 200 Accounts the software has a suggested payments routine which is really useful. The software pulls up all of our outstanding purchase orders with filters such as which ones have been outstanding the longest and suggests these are paid. We then just need to untick the ones we don’t want to pay, meaning everything is in one screen allowing one slick streamlined process. Payment runs used to take my colleague a full day. They now take approx 2hrs”.
Closed period accounting
“Sage 200 also allows closed period accounting which is fantastic as this ensures our reports are accurate. If a month is closed we can still post a late invoice with the correct date so that when it comes to reporting everything is accurate and where it needs to be. Another benefit is around the way in which Sage 200 handles accruals. At the beginning of the financial year we can post the full 12 months’ worth of accruals which are then held, meaning when we come to run our month end we just have to check these and post rather than processing the journals again.
“Construct for Sage 200 Accounts gives us peace of mind, as our business continues to grow we feel comforted by the fact our software can grow with us. There are still so many exciting tools that we are yet to use and learn about which will be great for our business moving forward.”
Discussing how Construct for Sage 200 Accounts has helped Finley Structures, Kelly finishes by saying, “Construct for Sage 200 is a unique solution. I’ve used previous systems in the past which still required a lot of manual work and I couldn’t fully rely on the information. Construct for Sage 200 is seamless, everything can be done at the click of a button and we can rely on the data presented. The software has transformed our business and we look forward to learning more.”