In the past, many construction firms relied on monthly job cost reports to manage job performance, but in this difficult economy business owners need a more proactive approach to developing strategies and monitoring output.

Having access to real-time information is crucial to achieving high efficiency in information management. Construction software tools such as project management and accounting can help provide firms with the data they need. Accounting professional William Klein notes that increased productivity can be reached by seamlessly integrating project management with accounting.

Project managers have to respond to unexpected overruns, which require access to up-to-date material and cost reports, while accounting staff must be aware of the project's status and whether the contract amount has changed. The information required by the two teams is intertwined. Klein recommends implementing a construction software package that facilitates the sharing of information between the project management software and accounting software. Also, it is important that employees are vigilant about filling in the data. If the software does not receive the information, it cannot provide added value.

Communication is key in any business, and it is especially important that project managers and accountants are able to share information in a timely manner.