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INDUSTRYcomment<br />
Adapt or fail<br />
As Eque2's construction specific applications move to the cloud, its<br />
CEO, Justin Moule, provides a stark warning for companies that<br />
don't adapt to the need for tighter control over their operations<br />
In the drive to promote digitisation within<br />
the construction industry, Eque2 is<br />
moving its core products to the cloud.<br />
The industry is renowned for being behind<br />
the curve when it comes to modernisation,<br />
but the current turbulence within the market<br />
is forcing companies to adopt more up-todate<br />
business management systems that<br />
will enable them to weather the current<br />
storm and then to thrive in the future.<br />
Eque2, the Maidenhead based company,<br />
formerly launched in 1994 as Sage<br />
Construction, until an MBO in 2014, has<br />
made its Construct for Sage Accounts<br />
(SME solution) and EVision Microsoft<br />
Business Central (Enterprise ERP) solutions<br />
available to customers on the cloud.<br />
Both Construct for Sage and EVision<br />
provide industry-specific functionality<br />
which fully integrate with widely used and<br />
trusted accounting packages such as<br />
Sage, or in the case of EVision, with<br />
Microsoft's comprehensive business<br />
management software. It's a popular<br />
combination, as Eque2 claim that its<br />
customers want to gain the benefits of<br />
industry-specific functionality that is in the<br />
cloud, enables access to real-time data<br />
from any hardware device with an Internet<br />
connection, and doesn't require them to<br />
moving away from their tried and trusted<br />
Sage or Microsoft solutions.<br />
Justin Moule, CEO of Eque2 believes that<br />
the complexity of the demands in the<br />
market post-Brexit and Covid, has led<br />
many in the construction sector to realise<br />
the benefit of real time management<br />
information. "Everyone is talking about<br />
material shortages and supply chain<br />
issues but there are many other factors at<br />
play. Escalating labour, material and<br />
delivery charges, for instance, are all<br />
having a detrimental effect on the<br />
profitability of projects and highlight just<br />
one of the reasons why having accurate<br />
data is so valuable.<br />
"Although our software can't solve the root<br />
issues, it can help companies manage<br />
their finances, estimating and contract<br />
management much more efficiently. By<br />
being able to access information on any<br />
device, at any time, from anywhere, it puts<br />
them back in control and prevents that<br />
heart-stopping moment when unexpected<br />
bills start arriving after a job has been<br />
quoted, completed and invoiced.<br />
"Crucially, it can also identify unprofitable<br />
jobs early on so they are able to take<br />
remedial action before things escalate out<br />
of control. Our estimating software<br />
interfaces with Laxton's pricing information<br />
and is continually updated, which<br />
customers really value."<br />
THOSE WHO DON'T ADAPT WILL FAIL<br />
Moule expounded further on his view,<br />
saying that Eque2 is on target to double<br />
turnover and customer numbers over the<br />
next three years as contractors make the<br />
switch to tech-enabled business<br />
management systems. He also believes<br />
that cashflow and margin control are the<br />
biggest cause of concern post-Covid,<br />
adding that banks and investors are<br />
insisting on improved financial information<br />
and greater transparency, which is why<br />
adoption of technology is accelerating at<br />
such a pace.<br />
In order to deal with increased demand<br />
he does not rule out acquiring another<br />
business, and has recently overseen a<br />
major strategic reorganisation at Eque2.<br />
As well as moving some of its products to<br />
the cloud and allowing businesses the<br />
flexibility of accessing their information from<br />
anywhere on any device, the company has<br />
also introduced monthly subscriptions so<br />
that customers avoid the expense of<br />
upfront capital outlay on software.<br />
Moule, however, has a stark warning for<br />
those companies still reluctant to embrace<br />
digitalisation: "We've been around a long<br />
time. We live and breathe construction so<br />
we know what works and how to bring real<br />
value to our customers. That said, there<br />
are over 65,000 contractors in the UK that<br />
could benefit from an industry-specific ERP<br />
system - but staggeringly only around 10<br />
per cent of them have one. In this<br />
increasingly digitalised world, businesses<br />
that continue to use paper-based systems<br />
and manual administration to run their<br />
operations will be at a significant<br />
disadvantage."<br />
Eque2 is a fast growing company, adding<br />
over 250 customers every year to its 3000<br />
UK customer base. The company places<br />
significant resource and investment in<br />
customer retention and satisfaction<br />
activities which include UK telephone<br />
based support, a dedicated customer<br />
onboarding team, online knowledge bases<br />
for all products and hundreds of years<br />
industry experience across the business,<br />
and proactive account management.<br />
CONSTRUCTION A<strong>CC</strong>OUNTING<br />
SOFTWARE FOR SMES<br />
Eque2's construction-specific application,<br />
Construct for Sage, provides an integrated<br />
construction accounting and commercial<br />
management solution for SME contactor. It<br />
allows clients to manage all aspects of<br />
14<br />
<strong>Jan</strong>uary/<strong>Feb</strong>ruary <strong>2022</strong>
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