Pegasus Launches Construction Solution for Ireland

March 2008

Pegasus Software today announced the launch of its Pegasus Construction Industry Solutions (Pegasus CIS) for Ireland.  Pegasus CIS has been designed to provide construction companies with complete control over every aspect of contract management, from contract costing, purchasing, timesheets and payment applications through to invoicing and cash receipt matching.  Pegasus CIS also ensures compliance with guidelines set out by the Irish Taxation Institute including Relevant Contracts Tax (RCT) legislation. 

Pegasus Software has had considerable experience in helping construction companies implement systems to manage the finances of their construction projects.  As construction markets are highly competitive, it is crucial that projects are actively managed to ensure their profitability.  Pegasus CIS integrates the sales revenue to the cash expenditure to ensure cash flow is in balance whilst at the same time monitoring the cash expenditure to the budgets to ensure that projected cost overruns are identified at the earliest stage so that actions can be taken to bring them back into line with their budgets.  This active management of the finances is a unique part of the design of Pegasus CIS, which will undoubtedly make it the preferred choice for many Irish construction companies.

Pegasus CIS improves the quality, accuracy and timeliness of business and financial information which is fundamental to effective management of the complex elements of today’s construction projects, and ultimately, the profitability of these projects. 

Pegasus CIS can also scale to meet the needs of both small and medium sized construction firms.  Combined with its rich functionality and seamless integration with business applications such as payroll  and core finance solutions, as well as business intelligence tools such as Pegasus XRL, makes it unique in the market place.  No other vendor can offer the depth and breadth of functionality from within a single solution.

Pegasus CIS is the only solution of its kind that is fully integrated with Pegasus and Sage ledgers, cashbook and Micropay payroll and can therefore facilitate rapid access to critical information held anywhere in the CIS system itself or in the firm’s accounting system. It is highly intuitive and can provide users with the ability to drill down into this information, extract data for further analysis and deliver detailed status reports covering key project elements such as subcontractor activities, labour, stock or purchasing.

Data can be sorted, filtered, grouped and totalled to suit the information needs of the organisation and the resulting reports can be presented in any format.  The flexibility to interrogate data so easily from within a single system is both time and cost effective.  Business users can tailor their view of the data held within the system without complex report writing or re-programming. The resulting data is crucial to the ongoing monitoring of business performance and to strategic decision making processes.

Kevin McCallum, commercial director, Pegasus Software, comments: “The construction industry in Ireland is a very significant proportion of the economy as well as major growth area and construction firms require IT systems which will enable them to remain competitive.  Through being able to access the right information in the right format at the right time, operational efficiency can be increased and strategic decision-making improved.  

He continues:  
“Pegasus CIS provides rich functionality which can help to drive down costs and increase productivity for construction companies.  As regulation shows few signs of abating, the need for construction companies to implement more effective controls and have access to accurate company wide information has never been so crucial.  Pegasus CIS enables construction companies in the Ireland to adopt a proactive approach to managing their business and to navigate the legislative maze, in particular compliance with rules set out by the Irish Taxation Institute.” 

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