Tactic 2 from 4 Tactics to Convert Time into Money on Projects
What if you could consistently control your operating expenses on projects? What if you could use historical data on lists of detailed tasks to more accurately budget for a project? And accurately estimate required resources, materials, and expenses? What if you could track project profitability and take timely, corrective action?
If your response to such questions is “If only,” your business management system is probably holding you back.
The best way to control project budgets, expenses, and resourcing is through a fully integrated software system with project accounting and budgeting functionality.
This blog series shares 4 tactics to convert time into money on your projects through a cloud-based, modern ERP with advanced project accounting. For small-to-medium businesses, Advanced Projects for Microsoft Dynamics 365 Business Central can help you ensure a healthy profitability for your project-based firm. It empowers your users and project managers to:
- Use templates to streamline the creation of new projects
- Leverage historical data to better estimate new projects
- See utilization rates of your team
- Track actual results against a project’s budget
- Assign the right people to each project based on resource skill and capabilities
- Measure and analyze project profitability during each project’s lifecycle
Project Budgeting Software
Advanced Project Accounting for Dynamics 365 Business Central leverages Microsoft Power BI to give you quick views of things like budgets-versus-actuals on projects and tasks, where your resources are on projects, what utilization rates are, and details about project performance.
It can look at a previous project’s actuals to help you build a new budget. It shows the percentage complete of projects by cost or quantity based on items, expenses, or resources.
Watch this on-demand Velosio webinar to see how it all works: Project Management, Operations and Finance tools for Project-Based Companies.