Streamline your estimates to projects

For any professional services or projects-based business, “time” is your most precious commodity. Your profitability is dependent on efficient use of time, accurately estimating time on projects, and accurately billing time and expenses. The best way to control your profitability is through your ERP solution with project accounting functionality.

If your ERP is siloed with disparate information, you won’t be accurate. If you have to perform manual data entry, you can’t be efficient. If it is not integrated into one central location and accessible anytime and anywhere, you won’t have true visibility to make strategic decisions on estimating, resourcing, analysing and adjusting project performance.

The “Estimates-to-Projects” process is a method used in project management to transition from initial project estimates to the actual project execution. It consists of several steps to convert the initial estimates into actionable project plans. This process starts with the project initiation and initial estimates, followed by detailed requirements gathering to refine the estimates as well as resource allocation, project planning, etc.

Leveraging Microsoft Dynamics 365 BC with Advanced Projects, you can easily streamline your Estimates-to-Projects process by empowering users to accurately estimate projects and purposefully set them up by:

Accessing data on resources, customers, vendors, and inventory for more precise estimating

Setting up an estimate, a budget, billing arrangements, including any discounts, and then easily converting it to an order to create a project.

Using a template to create an estimate; copying all the tasks or just choosing some of them or setting up an estimate or project by copying another project, its budget, and/or tasks.

Making an existing budget into a new estimate.

Setting up “dimensions” to assign codes to projects and tasks to affect reporting.

Creating projects to measure each activity or task against the budget to track project performance.

Learn more about all the project accounting functionalities of Advanced Projects.

  • project management and accounting

Project management and accounting

The financial prosperity of a project-driven organisation depends on several crucial elements, including the excellence of its deliverables, effective management, and the capacity to obtain contracts. However, at the [...]

  • project management for beginners

Project management for beginners

The ability to steer projects to success – on time, within budget, and in sync with business objectives – is absolutely essential for project-driven companies. Let’s have a look [...]

  • construction industry scheme

What’s the Construction Industry Scheme?

The Construction Industry Scheme (CIS) serves as a regulatory framework for contractors and subcontractors operating within the United Kingdom’s construction sector aimed at ensuring compliance and efficiency within the [...]