Understanding what is ERP software for project management
Picture this: project-driven work with well-defined goals, milestones, and deliverables, each project having its unique start and end date. Whether it’s a quick-hour turnaround or a months-long endeavor, the duration varies, tailoring the approach to the specific needs of the project and the business.
For project-driven companies like yours, it’s all about managing customer expectations, ensuring timely service delivery, adhering to budgetary constraints, and complying with regulatory frameworks.
Envision a system that seamlessly encompasses project management, job costing, data analysis, and material management—a cohesive suite of features facilitating end-to-end control. This isn’t just an ERP; it’s a specialised project ERP meticulously crafted for the nuances of the project lifecycle.
In contrast to conventional ERP solutions designed for manufacturing processes, your operational landscape demands a solution tailored for the bespoke intricacies of project-centric organisations.
When can an ERP be considered project-driven?
It should include the following features:
Comprehensive project management: It’s not just about managing projects but also overseeing programs and portfolios.
End-to-end solution: Your ERP should be a single platform, seamlessly covering every aspect of project-driven work within your company.
Resource and cost tracking: on both project and portfolio levels.
Front and back office features: bridging the gap between the front office (sales and marketing) and back office (procurement).
Supplier and subcontractor management: it should handle suppliers, subcontractors, contracts, bids, and tenders, creating a streamlined process.
Time and expense tracking: for a smoothless project accounting.
Integration with HR and payroll: ensuring a unified organisational approach.
Which KPIs should be supported by software for project management?
Microsoft Business Central + Advanced Projects for the win
Let’s witness the synergy of Microsoft Dynamics 365 Business Central and Advanced Projects catering to the intricate needs of project-driven companies.
Advanced Projects, finely crafted for project-centric businesses, brings forth a suite of features that align with the requirements of Project Accounting, Project Management, Project Resource Management, and Project Reporting. Developed by industry experts who understand the complexities of project-driven companies, Advanced Projects stands out as cloud-based software for project management and project accounting.
This dynamic duo fills a void left by the on-premises solution Microsoft Dynamics SL, especially as mainstream support is concluding in 2024. Advanced Projects steps in seamlessly to bridge the gap, providing essential project-driven ERP components that Microsoft Dynamics 365 Business Central alone may lack.
Advanced Projects offers robust task tracking, team productivity assessment, and a comprehensive feature set including project accounting, resource management, time and expense tracking, subscription management, Jira and DevOps integration, scheduling, and Microsoft 365 Outlook calendar integration. The inclusion of Power BI reports and Power Automate features further elevates its prowess. The integration of Microsoft Copilot adds a touch of AI and natural language processing, empowering even more users to elimintate manual processes.
How do the benefits materialise?
The add-on for Microsoft Business Central solution has ushered in a wave of benefits, empowering your operations with a suite of features designed for efficiency and profitability!
- Forecasting and profitability visibility: Gain unparalleled insights into project profitability with robust forecasting capabilities.
- Weekly timesheets: Move beyond the constraints of monthly tracking, embracing the agility of weekly timesheets for more granular and responsive project management.
- Analytical dashboards: Stay at the helm of project management with analytical dashboards that provide a comprehensive overview, ensuring you’re always in control.
- Pipeline to forecast conversion: Seamlessly convert pipeline data into accurate forecasts, enhancing your ability to plan and strategise effectively.
- Increased visibility for real-time decision-making: Make informed decisions on the fly with increased visibility, ensuring your actions are always aligned with real-time insights.
- Workflow approvals and resource management: Streamline operations with efficient workflow approvals and resource management, optimizing your workforce for maximum productivity.
- Increased cash flow and profitability: Experience a positive impact on cash flow and profitability, reflecting the efficiency and strategic foresight embedded in the new system.
- Better project management: Elevate your project management game, ensuring projects are executed seamlessly and within defined parameters.
- Limiting overruns: Mitigate project overruns by implementing effective controls and visibility, allowing for proactive management and prevention.
Looking for more input on your software for project management discovery journey? 👇