A new partnership between ServiceTitan, a field service management software platform for the trades, and Ryvit, a cloud-based integration development tool for construction and other industries, opens the door for easier accounting integrations with a variety of software ERPs many companies already use.
Running a construction company, no matter its size, requires quite the juggling act. From maintaining a tight control over costs, keeping construction projects on schedule, and managing crews during each phase of a large job, the whole process can quickly become unwieldy.
Modern construction companies need digital solutions to automate workflows, increase productivity, and streamline accounting efficiency. Problems occur when companies utilize multiple software applications to manage different divisions, such as expense and accounting, field management, subcontractors, and more.
When apps don’t integrate seamlessly, communication breaks down.
Recognizing that the construction industry can lag behind other industries in adopting technology, Ryvit CEO and Founder Tom Stemm sought to improve the process.
“Our mission is to accelerate adoption and use of technology for construction companies, period,” Stemm says of Ryvit. “We've purposely done that by being partner-centric in our approach. Partnerships like the one we've established with ServiceTitan are critical, in my opinion, to helping achieve that outcome for construction companies.”
Small to medium-sized construction firms, for instance, soon realize they need an all-in-one software platform such as ServiceTitan to run their businesses more efficiently, especially when it comes to estimating, procurement, job costing, progress billing, and more. But, they also need their accounting software to integrate seamlessly to manage payroll, invoicing, and payments.
Considering the difficulties some firms face with implementing technology, being forced to change your accounting software to accommodate a business management system is too much to ask in most cases.
Ryvit solves that problem for many construction companies. ServiceTitan integrates seamlessly with QuickBooks and Intacct, and the new partnership with Ryvit’s dedicated integration platform opens the door to connect with a variety of other accounting software applications or Enterprise Resource Planning (ERP) systems, such as Viewpoint Spectrum, Viewpoint Vista, Sage 100 Contractor, and Sage 300 Construction and Real Estate.
"The construction industry market segment has ERP systems that are preferred over Intacct for good business reasons, and ServiceTitan needs to accommodate them," says Jamie Johns, ServiceTitan Senior Director of Customer Experience. ”ServiceTitan can’t build the integrations our customers want fast enough, so using expert third-party system integrators such as Ryvit for construction—for any industry sector, essentially—is a big deal.”
Stemm says Ryvit currently engages with nearly 1,000 construction companies moving data through the platform and partners with a growing handful of the top logos in the space.
“ServiceTitan is a new partnership for us, but obviously one that we're very excited about, just in terms of what I think we'll be able to achieve together,” Stemm says.
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Ryvit’s beginnings, and how it works
Before introducing Ryvit to the marketplace more than five years ago, Stemm created his own consulting company to bring a more sophisticated approach to Information Technology (IT) to small businesses. As a consultant, Stemm began working with several construction companies on a technology investment model.
“I really started to learn how construction companies make money, and sometimes don't make money, and how they use tech, and oftentimes don't use tech, to really power that mission,” Stemm explains.
After struggling to demonstrate the same level of return on investment for construction companies as compared to other industries in the trades, Stemm says the idea for Ryvit came to life.
"It’s about establishing a go-to-market strategy that's centered around integration and streamlining the way these companies operate,” he says.
When apps are integrated properly, they allow for a seamless flow of data by automatically inputting the data into the construction management system. This helps construction companies:
Save money
Improve time management
Reduce human error
Keep projects on schedule
Automate workflows
Control costs
Break down information silos
Improve planning and collaboration, and
Enhance process efficiency
With Ryvit’s dedicated integration platform, construction companies on ServiceTitan get a turnkey system, versus trying to figure it all out on their own. Ryvit addresses concerns about security, data protection, and privacy when moving to the cloud.
“Our technology effectively cloud-enables access to data within their operating environment, whether it's their ERP or other sources of data we need to touch and access on a customer's behalf, in order to establish that integrated data environment,” Stemm says.
It’s all about using the right data-processing system and understanding the workflows that happen inside a construction company.
“We're very strong in the financial workflows that exist inside of a construction company,” Stemm says of Ryvit. “We're very strong at understanding how to organize and process accounting data. We're very strong at understanding the relationship between the same data that has to inform different functions.
“You have to get the data into the right place, so you can run job cost reports, but you also have to get it into the right place so you can run your financial statements and have all that data hit the GL (general ledger) correctly,” he explains.
With extensive knowledge of the industry’s financial workflows, Stemm says Ryvit shortens the duration for construction companies to achieve a robust, streamlined, and well-designed accounting integration in a way that helps to immediately establish best practices.
“I wouldn’t hesitate to say that we're probably the only type of solution on the market that can really help enable that type of an outcome,” Stemm says.
ServiceTitan has a very good understanding of what it takes to have a strong technical foundation for integration.”
Why Partner with ServiceTitan?
Recognizing the impact ServiceTitan delivers to its customer base and its continued investment to improve technology for the trades, Stemm says it just made sense for Ryvit to partner with the powerful, all-in-one, cloud-based platform.
“We did spend a lot of time together to really do a deep technical evaluation between both platforms, to really inform how we brought the strategy and the rationale for the partnership to life,” Stemm says. “ServiceTitan has a very good understanding of what it takes to have a strong technical foundation for integration.”
For now, the partnership will focus mostly on improving the accounting integration for construction companies, and removing the barriers to integration with more ERPs.
“By working toward becoming ERP system agnostic, and by utilizing our own resources and trusted third-party system integrators, we can serve customers who prefer their present ERP systems,” Johns says. “And we can serve more customers at a faster pace along the way, as they choose their preferred ERP systems.”
Ultimately, Stemm says, the goal is to provide an umbrella strategy that puts the right solutions in the right team member’s hands at the right time.
“We're going to give these companies that option they've been lacking in the past,” Stemm says. “They can now pick and choose those best-of-breed solutions they're going to use to run their business. And the companies that choose to pick the best-of-breed are going to be looking at ServiceTitan and the type of integrations Ryvit can help them establish with whatever other solutions they're using in their environment.”
ServiceTitan and Ryvit are currently accepting inquiries for our Viewpoint Vista integration. If your company leverages Viewpoint Vista and is at least considering ServiceTitan (or are already a customer), then click here to learn more about the integration and schedule a demo with our sales team.
