Building Body Joins Forces with Reckon to Cloud-Empower Modern Tradies

SYDNEY, Australia – July 26, 2017 – To enable Australian building professionals to run better businesses and ultimately derive improved outcomes, the Housing Industry Association (HIA) and accounting software provider Reckon have joined forces to drive the adoption of cloud technology to boost operational efficiencies and solve every day financial management challenges. 

The peak industry body is home to over 31,000 members across the country, with the number set to grow as the residential construction industry further cements its spot as one of the top employment industries in Australia[i].

The strategic move aims to empower builders with the right knowledge and tools to strengthen their financial management capabilities – a key foundational building block of successful enterprises, but often an area of neglect for small businesses due to constraints in time, resources and financial know-how. As part of the partnership, Reckon will work with HIA to offer business insights and importantly, best practice cloud-based financial management techniques to HIA members. 

“Two thirds of our member base is made up of sole traders and small businesses that face considerable time and resource challenges. Business assessments are unfortunately often left on the backburner as a result,” said Guillermo Risco, HIA’s National Manager – Member Benefits and Programs. “In fact, financial performance should be continuously monitored throughout the financial year to make businesses more responsive to required changes during the year.  

“Moreover, as the building and construction industry continues to experience unprecedented growth, we can also expect more millennials and Generation Z to enter the sector – the cohorts driven by instant solutions and technology. What this means is that making things quick and easy is what matters most. For one, mobility and the ability to execute tasks on the go will be essential for next gen, digitally advanced tradies,” he added. 

Cloud-Empowering Modern Tradies
Leveraging Reckon’s leading cloud accounting software Reckon One, small business owners will be able to gain greater visibility over their business performance and real-time insight into their financials anytime, anywhere. At the same time, it will also aid in streamlining reporting requirements and ensuring compliance with SuperStream, GST, Payroll Tax, amongst others.

Further to that, the partnership also aims to support builders in speeding up their cash flow cycle, by ensuring a seamless invoicing and payment process via Reckon One. 

“Many small businesses including builders tend to be bogged down by the core responsibilities of running a successful business, such as winning new contracts, employing and managing people, satisfying client requirements, all whilst finding the time to properly manage cash flow and meet financial obligations,” said Sam Allert, Managing Director for ANZ at Reckon.

“Without a thorough comprehension of their financial performance, their ability to make timely, informed decisions that could potentially advance the course of their business is impeded,” he added. Stina Gustafsson, Industry Alliance Partner said “By partnering with HIA, we want to help builders ease the burden of financial management and time-consuming administration, so they can effectively focus on other revenue-driving aspects of their business as well as ensure a healthy work-life balance.” 

The partnership has developed through representations at HIA Trade Nights in New South Wales, HIA Building and Business Workshops in Victoria, HIA Building and Business Shows in Sydney, and will continue throughout the year with ongoing webinar sessions with HIA members online and Women in Construction luncheons. Members will also get a complimentary three-months subscription of Reckon One. 

For more information, visit https://hia.com.au/Membership/MemberOffers/Reckon.aspx.

For further information, please contact: 
Daphne Chuah 
Red Agency 
daphne.chuah@redagency.com.au or +61 (2) 9963 7840 

About Reckon 
Reckon is an ASX listed and Australian owned company with over 30 years experience delivering market leading solutions to accountants and bookkeepers, legal professionals and small to medium sized businesses. Reckon’s software services are designed to make accounting faster, easier and more productive. Find out more at www.reckon.com.