Homebuilders looking to take more of a best-of-breed approach to their accounting practices continue to have more options at their disposal.

This week BuilderMT, www.buildermt.com, Lakewood, Colo., entered into a technology and marketing alliance with Event 1 Software, www.event1software.com, Vancouver, Wash., which develops Microsoft Excel-based reporting, inquiry, and business intelligence software. The company provides a unique tool to the construction-technology marketplace in that it allows Excel to become an interactive reporting tool that connects directly to your company database.

With the integration, BuilderMT announces Liberty Reports for its WMS (Workflow Management System) in which Event 1 Software will provide its customers with integrated Excel-based financial reporting. This is critical because the integration will work regardless of which accounting package a homebuilder is using. In essence, it will enable builders to use company data in combination with the set of features that exist within Excel in order to create highly detailed business reporting.

By using Liberty Reports for WMS, a homebuilder’s Excel spreadsheet becomes the environment in which they can design and run reports using realtime updates and data feeds. The tool can calculate and present interactive results for business intelligence reports, management reports, and exception reports. In fact, the technology might even serve as a tool builders can use for audits.

In addition, the Liberty Reports platform offers the ability to have one reporting resource that actively pulls data from multiple vendors or sources. This will provide a unique ability to consolidate information from multiple data sources into a single workbook.

Event 1 Software has long been known as a software partner for Sage, www.na.sage.com, Beaverton, Ore., but also works with other technology providers like Meridian Systems, www.meridiansystems.com, Folsom, Calif. This is another extension of its services in construction and signals a definite step forward for serving residential builders and contractors.

In all, this announcement is significant in that it pushes the use of Excel—a widely used tool in construction—even further, and that it allows this data to be intelligently used across the enterprise regardless of which backend financial system is in place.