b'ACCOUNTING COLUMNAUTOMATING FINANCES O Y O U C A N F O C U S O N Y O U R B U S I N E S SBY BRIAN LAVECK, CPA, CAeal estate and construction leaders and owners have a lotNot only do you have to deal with fluctuating prices, a labour R of demands placed on them. You have the potential toshortage and demand for services, but youre also making critical gain from major activities and projects, but you also havebusiness decisions based on information that requires a lot of work a lot of back-office tasks, and you have to be purposeful with yourto obtain accurately. Often, decisions are delayed or not to your time and resources.satisfaction based on the information you have because you dont have the time or staff to do it.The accounting and finance function can especially prove to be cumbersome and time consuming.Thats where cloud and digital solutions come in. The applications that make up your back office, and how they play into your decision making, are a critical factor in your organizations success. CHALLENGES IN MANAGING The COVID-19 pandemic has accelerated change in the industry THE FINANCE FUNCTION and increased the need for cloud solutions, with efficient and From receipts piling up, payments and invoicing, to managingremote on-the-go access becoming essential.cash flows, the real estate and construction industry has significant financial management requirements. The COVID-19 pandemicCLOUD-BASED SOLUTIONS CAN BRIDGE THE GAPhas only exacerbated challenges such as: For real estate and construction companies, specific departmental Ensuring payments are coming in on time solutions are significantly more valuable than large and often unnecessary enterprise-wide solutions. And nowhere does the need Paying suppliers on time for back-office solutions become as necessary as it does in the area of finance, accounting and bookkeeping. Invoicing efficientlyA smoothly operating finance function ensures that time is not spent on manual and retroactive tasks and helps you stay focused on Seeing cash flow in real time, especially with costs going up projects and growth by delivering updated financials faster than ever. Filing receipts on the go Cloud-based solutions also follow best-in-class cybersecurityguidelines. Your information is secure and protected in the cloud, Tax and GST or HST planning delivering peace of mind around the growing threat of cyber crime. WEST KOOTENAY MECHANICALGeneral Mechanical ContractorWorking safely,Keeping safetyMotivatedPhone:Fax:www.mqn.caRevitalizing communitiesE-mail:250.542.1199 one building at a time licensed by:38 SOUTHERN INTERIOR CONSTRUCTION ASSOCIATION'