Pictured above: Stuart Anderson, Operations Director,
Pegasus Software
Pegasus Software, a leading supplier of accounting and business
software, today launched Pegasus Construction Industry Solutions
(CIS) (3.00).
Pegasus CIS (3.00) is the latest version of Pegasus' leading
portfolio of software solutions specifically designed for the
construction and allied industries. Following more than a year and
a half of research and development, Pegasus has unveiled hundreds
of improvements to sales, purchasing, stock control, labour,
subcontracting and job costing modules.
Improvements include the capability to handle multi-currency
sales, including invoicing, applications and certificates, the
implementation of customer price books, external plant hire
management, procurement control, warehouses and bin locations,
stock transfers, returns and requisitions as well as Bill of
Requirements with budgets, discounts and revision levels.
These updates not only ensure that construction companies are
fully compliant with the demands of the taxman, but also deliver
significant, tangible efficiencies to contract management.
Compliance has recently become a signficant burden for the
construction industry with contractors receiving Construction
Industry Scheme penalty notices informing them of fines ranging
from £39,300 to £80,000. The size of these levies
results from the way the tariff increases by £100 each month
from an initial sum of £100. If a liable builder has not
filed the correct paperwork since the scheme was introduced in
April 2007, they would be liable to a total fine of £49,600
for the 31-month period.
Stuart Anderson, Operations Director, Pegasus Software explains:
"The average construction project suffers 150% cost overruns and
completes more than 175% late. Add to that the stringent
demands of regulation such as the HMRC Construction Industry
Scheme, which many companies are still struggling with, and you
start to see why construction companies need software that can help
calculate their liabilities. Even if they successfully appeal
against the fines, it takes time and effort away from the
business."
"In the last quarter of 2009 we saw new construction output
increase by 5% compared with the previous quarter, with new
housing, infrastructure and public non -housing all seeing
significant growth. It is encouraging to see the green shoots
of recovery starting to show in the construction market.
The raft of improvements we have made to Pegasus CIS will mean
that contractors and construction companies can make the most of
the small steps towards recovery that the sector is seeing.
We are very excited to release the results of such extensive
R&D."