Using ERP to Control Job Costing & Project Accounting
Depending on who you ask, a project manager may be juggling between five and twelve projects at any given time. The days of using spreadsheets and simplistic calendar tasks to manage this number of projects are way behind us. Corralling growing numbers of budgets, stakeholders, timelines, and workers requires more than these manual processes can manage. But ERP software handles these complex and challenging tasks beautifully.
ERP Improves the Performance of Project Management
Errors are the primary problem with manual job costing / project accounting tools like calendars and spreadsheets. Manual data entry, especially when multiple people are entering, is a recipe for errors, omissions, duplications, etc. ERP software automates many of these manual processes, helping to keep data clean and correct, thereby improving the performance of project managers and their staff. ERP can also be customized to match a particular company and its projects, delivering the precise solution for projects to come in on time and within budget constraints.
How NexTec Group Helps Project Managers Help Themselves
NexTec Group can help you find an enterprise project management solution that provides several key functions to make this solution particularly useful to project managers for job costing and project accounting. For example, the right ERP software features:
- Timeline management – This allows each member of a team to track his or her own tasks, giving the project manager complete visibility across the team and project. It shows the project manager when deadlines are approaching and how much work is left to do before that date.
- Budget management – This helps project managers stay within their budgets by keeping track of the resources that have been used, the per-hour costs of those resources, and what resources are currently available.
- Communications capabilities – This feature gives the project manager and her team the ability to communicate the status of the project in progress, including issues that have arisen, and how they’re resolving those issues. Better communications are essential to keeping projects on time, within budget, and up to standards.
- Allocation of resources – This feature gives the project manager real-time data on resource allocation. She can see immediately when problems come up, and can manage resource utilization by team member, including scheduling any downtime associated with the use of the resource.
- Progress reporting – This feature offers advanced, built-in reporting capabilities that allow each team member to generate and submit reports quickly and effortlessly.
- Set and meet goals – The right ERP solution gives project managers the ability to track and monitor resource usage, to assign equipment to team members, and help them meet the goals set for each of the projects they manage.
To learn more about how NexTec can help you find the right ERP solution for your enterprise, and how it can help your business achieve all your goals, download the NexTec Brochure now. You will find it loaded with helpful information.