What is a Project Accounting ERP system?

Combine operations and finance into one system with intelligence and workflow.

 

How does it work?

1. Put everything in.

  • Time & expenses
  • Project budgets and change orders
  • Inventory, materials & equipment
  • Client information and invoicing requirements
  • GL and account structures
  • Employees, suppliers & contractors
  • Multiple companies & currencies

2. Achieve productivity and efficiency.

"I have a huge workload so to have such an easy to use system is great. A real time saver. And now that our reports are automated it’s a huge advantage."

IT User,
Calgary Engineering Firm

  • Configure the system to automate simple tasks
  • Use workflow and alerts to automate communications and approvals
  • Allow departments to view, add or change only relevant data
  • Everyone is up to date in 'real-time'
  • Manage and optimize resources and people

3. Create business intelligence and agility.

  • Project Managers track and manage project profit margins and control costs
  • Accounting departments invoice quicker and reduce receivables
  • Finance gets a full picture of organizational health and cash flow
  • Executives gain new business intelligence

What to look for: These core functions make all the difference

These functions are some of the features that will set a good project accounting system apart from a mediocre one.

  • Project budgeting
  • Change orders
  • WiP (Work in Progress)
  • Flexible Billing – change rates, hold time, choose when to bill time & expense,
  • Flexible revenue recognition
  • Create the reports that matter to you
  • Project allocator – an if/then rules engine that intelligently flows your project costs and revenues into your GL

But wait, there's more! a Project Accounting ERP can include many more functions...

  • Build to order
  • Build to sell
  • Inventory & Purchasing
  • Resource Planning
  • Service Contract
  • Service Dispatch
  • Contract Management
  • Equipment Management
  • Integrated CRM
  • Manufacturing
  • and more? ...possibly.

Just as you are unique so is each ERP system.

Each ERP system will have it's own combination of strengths and weaknesses and available modules. To help you navigate this, become clear on your priorities and then match that against what's available and configurable. Your final decision should include a maximizing what's on your list of requirements while ensuring that each problem you solve is actually going to add value to your organization in the long run. Tip: Don't fall into the trap of thinking that every possible feature will be used or needed. Just because it's possible to do something in a new system doesn't mean it's going to improve your processes, increase efficiency or add to your bottom line. This is where you can count on us to guide you during the selection and implementation of a system. We will ensure that what you implement is what's most important to your bottom line and help you increase the value of your system over time. 

 

What's Next?

Meet The Experts

  • Steve Swenson

    Steve is a project accounting expert. Since 1991 he has been working in accounting with financial systems. Steve has a broad range of project experience and exposure to a wide range of industries. He specializes in project accounting solutions focusing on system design, implementation, project management and long term client support.

    Steve oversees the consultative engagement process and facilitates determining the right solution for his clients. Steve offers every client his expertise on process assessment and process improvement and holds the client’s focus on their big picture priorities. In this way he ensures the best long term result for your entire organization.

    When Steve is not working you can find him racing cars, mountain biking, hanging out with his family, and coaching his son’s soccer team.

  • Scott Michael

    Scott is an IT professional with over 18 years’ experience designing, developing, and implementing business-critical systems across a wide range of industries. Scott has created a name for himself as an expert problem solver, programmer and developer. Scott is continually developing unique solutions for clients with dynamic needs in special industries.

    Scott’s creativity gives his clients a particular advantage. He has a knack for running through all scenarios and seeing the possibilities. Scott cuts to the bottom line asking for your desired end result. In this way he works with you to achieve your results in the most efficient and elegant way possible.

    Scott is an avid golfer in the summer and a ski-Dad in the winter. He spends many hours on the slopes with his family and daughters participating in national ski races.

  • Leon Hager, CMA

    Since 2001, Leon has been working with Microsoft Dynamics SL (Formerly Solomon) as a user, implementer and system administrator. His technical know-how combined with a strong business background allows Leon to provide customers with a well-rounded, tried and true approach that takes into account business processes as well as system processes.

    Leon is a financial accounting expert. Leon has seen many organizations through the implementation of a new financial system. Ask to have a conversation with Leon about improving your financial accounting, financial reporting, and system workflow. He will give you the straight goods on what works, what doesn’t and what will shift your organization into a competitive space where you can focus on your KPI’s while managing risk and growing your business.

    Outside of work you could find Leon on a ball diamond with one or both of his daughters or enjoying time outdoors quadding or waterskiing.  When not outdoors, Leon enjoys spending time with family and friends.