You wouldn’t be in business unless you were making money, and you’ll be most successful if you keep close tabs on financial matters. Financials typically include such specific applications as the general ledger, accounts payable (the people you owe), accounts receivable (the people who owe you), and billing. In the project world, you need your financial tools to give you the ability to track your financials at the project level.
For example, if you want to track the profitability of a specific project, you need to know your revenue from that project (how much do you expect to be paid?) as well as that project’s specific costs (including labor, materials, and other expenses) — the difference between those two numbers is that project’s profit. Sounds simple enough, but if your ERP system can’t track those costs and revenues at the project level, finding the difference isn’t really all that easy.
But we can even take it a level further. Can you tell which types of projects are more profitable than others? Are there certain industries or geographies are are bringing your profitability down? Are there certain Clients that you think are good for the firm, but in reality they are not?
Well, that is the premise of the new Project ERP for Dummies book that was just released. We will be holding a webcast to launch the book and preview some of the topics covered with the books authors. Attendees will get a FREE digital copy of the book, so reserve your spot today.
Project-Based ERP for Dummies introduces the basic concepts of ERP systems that are intended to serve project-based businesses. Companies that are project-based typically include government contractors, not-for-profit non governmental organization (NGOs), consulting firms, architectural and engineering firms, oil and gas operations, accounting businesses, legal firms, and agencies. If projects are in your company’s DNA, you can benefit from this webcast and book.