Introducing: Velixo for Sage Intacct Construction. A Game-Changer for the Construction Industry.
Montreal, October 3rd, 2024 – Velixo, a multi-award-winning, Excel-based solution specializing in Reporting, Forecasting & Data Automation for ERPs, today announced the availability of Velixo for Sage Intacct Construction, a powerful new solution specifically designed to address the unique challenges of the construction industry, for Sage Intacct users.
Building on the trusted Velixo platform, the solution offers a set of features and pre-built reports that combine Velixo’s extensive construction expertise with deep Sage Intacct integrations, all while maintaining the ease of use and flexibility of Excel. Now, construction companies can seamlessly manage their Sage Intacct project data and streamline reporting and internal workflows to boost their productivity, all within the Excel that the industry is very familiar with.
“With hundreds of construction customers across ERPs, we recognized the industry’s heavy reliance on manual Excel reporting, inefficient workflows, and time-consuming data entry—all of which can be fully streamlined using Velixo. Combined with the powerful features of Sage Intacct, we decided to solve those challenges with a full solution built specifically in Excel for Construction businesses on Sage Intacct. I believe this solution is game-changing for Sage Intacct and the industry!” says Gabriel Michaud, Founder & President at Velixo.
“The construction industry is fascinating—it utilizes most modules of an ERP, involves various types of contracts, and applies to residential or commercial developments of all sizes and investments. The number of stakeholders, processes, standards, and the amount of work performed behind the scenes by Construction businesses to guarantee projects are delivered on time and within budget are significant. Delivering a set of high-value tools and templates to increase visibility, streamline many workflows, and simply make the life of Construction pros easier and more productive were core goals for our Excel integration with Sage Intacct Construction. We can’t wait to keep innovating and augmenting this unique solution for the community!” says Damien Zwilllinger, Chief Product Officer at Velixo
Designed for Sage Intacct Users, Built for Construction
In the construction world, real-time access to financial data and project analytics is critical for success. Many companies rely heavily on Excel-based reports to manage their financials, track project progress, combine data to do their forecasting, and ensure cost control and profitability. Velixo bridges all the gaps between Sage Intacct and Excel, providing a comprehensive solution built specifically to extend Sage Intacct’s capabilities for the Construction industry and boost customers’ productivity while ensuring data integrity.
The benefits are wide-ranging:
- Excel-Powered Simplicity: Velixo allows users to work in Excel, which is familiar to both financial and construction professionals. No need to learn complex systems—if you know how to use Excel, you can easily navigate Velixo and start building robust reports using Sage Intacct data.
- Pre-Built Reports Tailored for Construction: Save time and improve accuracy with a suite of pre-built report templates specially designed for construction businesses and personas across several departments. Whether you need detailed cash flow reporting or Work-in-Progress (WIP) tracking as an accountant, Cost-to-Complete forecasting as a project manager, or detailed timesheet and commitment analysis as an Analyst, Velixo has you covered!
- Real-Time Reporting: Providing instant insights into project performance, budget tracking, and profitability—no need for a data warehouse or additional software. Just Sage Intacct, Velixo and Excel.
- Bi-Directional Data Flow: Not only can you pull data into Excel from Sage Intacct, but you can also push data back. For example: creating new project change order records, updating project data or AP Bills, creating project estimates or WIP adjustment journals, directly from your spreadsheet with Velixo’s writeback functionality.
- Enhanced Collaboration & Governance: Easily share reports with any internal or external stakeholders via email, store, track changes or integrate your Velixo reports in any of the many Microsoft 365 services. Microsoft 365 and Velixo together simplify governance and communication across teams ensuring everyone has access to the most up-to-date project information.
Pre-Built Templates Gallery
A subset of the Velixo for Sage Intacct Construction Templates
Type: Forecasting (uses: Project Estimate Writeback)
Persona: Project manager, Director of Construction
For project managers to:
- Track the costs associated with each cost code of a project over time.
- Analyze key financial, purchasing and project data to remain on-time and within contractual budgets.
- Input Cost to Complete Amount, Hours or directly the expected cost at completion, to forecast the margins of a project.
- Push the Cost at Completion as a Forecast Estimate in Sage Intacct, using Velixo Writeback.
Available in 4 versions (depending on the type of project contract): Amount, Billed Hours & Amount, Percent, and Cost at Completion.
Type: Reporting (uses: Journal Writeback)
Persona: CFO, Accountant, Controller
An essential part of Project accounting for the Construction industry. This report calculates the progress of all ongoing jobs, allowing an accountant to see what’s been done and what’s left to do, to manage budgets effectively.
The critical metrics of the Template include: Over/Under billing (to report how much is overbilled or underbilled), Forecasted Profit (to calculate the expected profits based on the forecasted cost at completion of the projects).
This Template also streamlines the creation of WIP Adjustment as GL Journal entries directly in Sage Intacct, using Velixo Journal Writeback.
Type: Reporting
Persona: CFO, Accountant, Controller
A project accounting report that analyzes Actual Revenue (billings) and Actual Cost to calculate the Profit to date of all projects, for the current month and to date based on a relative date.
This report also includes extra metrics to provide additional information on the completeness of the project, e.g. % Complete, Commitments Balance to Invoice.
Type: Reporting
Persona: CFO, Director of Construction, Project manager, AP managers
Designed to provide a detailed analysis of commitments by cost code.
This report is typically used by Project managers, AP managers or accountants to track financial commitments, analyze detailed transactions and balances for each purchase commitment to vendors. This ensures effective cost management and makes sure all necessary suppliers and services are accounted for, throughout the lifecycle of projects.
Type: Reporting
Persona: CFO, Controller, Director of Construction
Tracks and compares inbound billings with various outbound costs incurred for construction projects allowing to get a full picture of cash inflows and outflows from several areas of Sage Intacct.
It includes timesheet and expense entries for staff, Direct Cost Journals, AR Invoices and AP Bills helping project managers and financial teams ensure they have a single report detailing all transactions to gain better visibility on the cash flows of a project.
Type: Reporting
Persona: Finance professionals, Project manager
Reports such as the Employee Timesheet & Expenses Template enable the detailed monitoring and managing of timesheet entries and project-related expenses, by project and cost code.
It is typically used by project managers and finance teams to track entered hours worked for every employee, and ensure that expenses are accurately recorded and within budget.
Key functionality in this report includes the ability to review employee hours by project and identify variances.
Type: Reporting
Persona: Finance professionals, AR/AP managers
Gives a quick overview of the amounts due to customer/vendors, sorted by age of the outstanding balance and organized in configurable bucket of days. Also includes the retainage amounts withheld for ongoing construction projects.
This report provides important information for managing cash flow, prioritizing payments, and nurturing good relationships with vendors. It also offers visibility into funds that are being retained until the projects are completed.
Type: Tool (uses: Universal Writeback)
Persona: Finance pro., AR/AP manager
Designed to monitor and manage the flow of cash from an Accounts Receivable (AR) and Accounts Payable (AP) perspective. This report enables the careful monitoring of income and expenditures for a given period and enables finance professionals to strategically time the payment of AP bills to vendors when AR is received.
Additionally, armed with information about paid invoices per project, this template enables users to create new Payment requests for each outstanding AP bills of the project. This process facilitates the process of data entry and integrates with the approval process of Sage Intacct.
Type: Tool (uses: Universal Writeback)
Persona: Project manager, Analyst, AP manager
Tools like the Update Project data Template provide users with workbooks that let them rapidly review multiple records for a given Sage Intacct object such as Project, Contract or AP Bills, modify any value and push the changes back to Sage Intacct in bulk, using Velixo Writeback.
Tool Templates are typically used for data quality purposes (missing or erroneous data) and mass updating certain properties, such as Due date for AP Bills, or Status for Project. There are also many use cases for creating new records directly from Velixo in Excel, and this applies to every object supported by the Sage Intacct API.
Type: Forecasting (uses: Project Estimate Writeback)
Persona: Project manager, Director of Construction
For project managers to:
- Track the costs associated with each cost code of a project over time.
- Analyze key financial, purchasing and project data to remain on-time and within contractual budgets.
- Input Cost to Complete Amount, Hours or directly the expected cost at completion, to forecast the margins of a project.
- Push the Cost at Completion as a Forecast Estimate in Sage Intacct, using Velixo Writeback.
Available in 4 versions (depending on the type of project contract): Amount, Billed Hours & Amount, Percent, and Cost at Completion.
Type: Reporting (uses: Journal Writeback)
Persona: CFO, Accountant, Controller
An essential part of Project accounting for the Construction industry. This report calculates the progress of all ongoing jobs, allowing an accountant to see what’s been done and what’s left to do, to manage budgets effectively.
The critical metrics of the Template include: Over/Under billing (to report how much is overbilled or underbilled), Forecasted Profit (to calculate the expected profits based on the forecasted cost at completion of the projects).
This Template also streamlines the creation of WIP Adjustment as GL Journal entries directly in Sage Intacct, using Velixo Journal Writeback.
Type: Reporting
Persona: CFO, Accountant, Controller
A project accounting report that analyzes Actual Revenue (billings) and Actual Cost to calculate the Profit to date of all projects, for the current month and to date based on a relative date.
This report also includes extra metrics to provide additional information on the completeness of the project, e.g. % Complete, Commitments Balance to Invoice.
Type: Reporting
Persona: CFO, Director of Construction, Project manager, AP managers
Designed to provide a detailed analysis of commitments by cost code.
This report is typically used by Project managers, AP managers or accountants to track financial commitments, analyze detailed transactions and balances for each purchase commitment to vendors. This ensures effective cost management and makes sure all necessary suppliers and services are accounted for, throughout the lifecycle of projects.
Type: Reporting
Persona: CFO, Controller, Director of Construction
Tracks and compares inbound billings with various outbound costs incurred for construction projects allowing to get a full picture of cash inflows and outflows from several areas of Sage Intacct.
It includes timesheet and expense entries for staff, Direct Cost Journals, AR Invoices and AP Bills helping project managers and financial teams ensure they have a single report detailing all transactions to gain better visibility on the cash flows of a project.
Type: Reporting
Persona: Finance professionals, Project manager
Reports such as the Employee Timesheet & Expenses Template enable the detailed monitoring and managing of timesheet entries and project-related expenses, by project and cost code.
It is typically used by project managers and finance teams to track entered hours worked for every employee, and ensure that expenses are accurately recorded and within budget.
Key functionality in this report includes the ability to review employee hours by project and identify variances.
Type: Reporting
Persona: Finance professionals, AR/AP managers
Gives a quick overview of the amounts due to customer/vendors, sorted by age of the outstanding balance and organized in configurable bucket of days. Also includes the retainage amounts withheld for ongoing construction projects.
This report provides important information for managing cash flow, prioritizing payments, and nurturing good relationships with vendors. It also offers visibility into funds that are being retained until the projects are completed.
Type: Tool (uses: Universal Writeback)
Persona: Finance pro., AR/AP manager
Designed to monitor and manage the flow of cash from an Accounts Receivable (AR) and Accounts Payable (AP) perspective. This report enables the careful monitoring of income and expenditures for a given period and enables finance professionals to strategically time the payment of AP bills to vendors when AR is received.
Additionally, armed with information about paid invoices per project, this template enables users to create new Payment requests for each outstanding AP bills of the project. This process facilitates the process of data entry and integrates with the approval process of Sage Intacct.
Type: Tool (uses: Universal Writeback)
Persona: Project manager, Analyst, AP manager
Tools like the Update Project data Template provide users with workbooks that let them rapidly review multiple records for a given Sage Intacct object such as Project, Contract or AP Bills, modify any value and push the changes back to Sage Intacct in bulk, using Velixo Writeback.
Tool Templates are typically used for data quality purposes (missing or erroneous data) and mass updating certain properties, such as Due date for AP Bills, or Status for Project. There are also many use cases for creating new records directly from Velixo in Excel, and this applies to every object supported by the Sage Intacct API.
Testimonials
What Customers and Partners Say about the Construction solution
Velixo has already given us better visibility and made us more efficient. I estimate that using the Cost to Complete report alone, we save between 24 to 32 hours across our 6 project managers, every month. And now I also get all my data from them, on time!
Velixo transforms complexity into clarity, seamlessly integrating with Sage Intacct to enhance project budget monitoring, financial management, and reporting. With reporting options that surpass our ERP's capabilities, we accomplish more in less time. Additionally, the writeback feature enables us to send information directly from Excel to our ERP, effectively tracking changes over time and further streamlining our processes.
I am impressed by the ease of interaction with the Velixo Team. It is refreshing to get immediate answers, and more importantly solutions to, in some cases, complex requirements. Other reporting tools can look intimidating with a steep learning curve. Through the use of Excel, Velixo eliminates those concerns. Velixo is an attractive proposition to most prospects and existing clients in the Construction industry.
By leveraging our strong relationship and collaboration with Velixo, we can now offer several critical solutions to our clients such as: Project Cost Forecast (CAC) with Writeback, Substantiated Billing to collect data and images (invoice documents etc.) related to the specific project and time periods, Pay When Paid to collect data related to payments received on the projects and related to the payment requests downstream.
Typically, when I go through monthly updates for all the projects and budgets, it would take me roughly 1 week to finish all updates. Now, I can do it in a single day! All I have to do is refresh the workbook. As long as I have my dates right, I have everything in the blink of an eye!
Contact Us to Learn More!
Interested in digging deeper into Velixo for Sage Intacct Construction? Contact us to learn more!
