For growing small and mid-size Professional Services firms, effective project management is the key to success. You need to deliver projects on time and on budget. Achieving that is dependent on the systems you have in place to manage your projects and your business as a whole.
Time for New Project Management Software?
Many firms start out using a combination of spreadsheets, Microsoft Project and maybe some ad-hoc systems to manage their business. As you grow, you’ll likely find it difficult to keep track of all the moving parts. The challenges only increase as you expand your team and take on more projects. Here are some common signs that you’re ready to upgrade to a new integrated project management solution.
- Creating accurate project budgets is difficult because your historical data has limited detail.
- You lack a clear view of individual and company-wide resource commitments, making it difficult to assign the right resources to the right project tasks.
- You’re constantly transferring data back and forth between your project, accounting and employee compensation systems, resulting in data errors.
- Your project managers struggle to get a complete picture of their project costs.
- You can’t evaluate the success of a project until after it’s completed because of limited reporting capabilities.
- Projects are falling behind schedule because team members don’t know what they’re supposed to be working on.
- You end up spending so much time on administrative tasks that it’s challenging to meet promised timelines and your profits aren’t what they could be.
- You don’t have a quick, easy way to check your project and overall corporate status.
Benefits of an Integrated Business and Project Management System
The Eralis Project solution, powered by SAP Business One, allows small and mid-size project-based firms like yours to streamline their entire business. The solution integrates project management with the rest of your business transactions, resulting in increased efficiency and profitability.
- Allocate resources and planned time commitments.
- Assign budgets at the project and activity level.
- Easily set and adjust schedules with a visual GANTT tool.
- Get a clear picture of your resource capacity to more effectively plan your book of business.
- Employees track time and expenses against project activities with an intuitive browser-based application.
- Reduce frequency of overdue or over budget projects with real-time visibility.
- Spend less time in status meetings and more time actually working on projects.
- Improve cash flow with faster, more accurate billing to clients.
- Easily gauge resource efficiency by comparing planned and actual time.
- Get a clear and accurate picture of profitability on each and every project.
- Gain a better understanding of your resource utilization.
- Feed insights into planning of future projects to continually optimize efficiency and profitability.
- Use real-time data to take corrective action on projects that need attention.