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Get to Know Global: Project Costing

10/15/2017

Because the pace of change in business is greater than ever before, both employees and business leaders need timely access to accurate information to effectively improve their company’s performance. With ProcessPro Global, the next generation of batch process manufacturing software, necessary functionality is readily available for your business to prosper in this challenging business environment. In this featured blog series, “Get to Know Global,” we highlight extended applications that provide your company with additional functionalities to succeed. The focus of this blog is Project Costing, a budgeting and costing tool for tracking the progress of projects or jobs.  

What is Global?

ProcessPro Global is built on leading-edge Microsoft technologies, designed for flexibility, ease-of-use and scalability to meet the unique requirements of batch process manufacturers. Powered by the Global Adaptable ERP platform, this solution offers a comprehensive set of applications, while at the same time offering seamless incorporation of future updates. Global is designed for multi-language, multi-currency, multi-company and multi-industry by leveraging broad functional capabilities.

What is Project Costing?

When under the constraint of limited budgets, it is important to ensure you get the most return on your investment no matter the project. Project Costing functionality provides the real-time, accurate solution you are looking for. This application enables your company to estimate costs to determine project viability, as well as cost-effectiveness, allowing you to make educated decisions about which projects to advance. Once a project is adopted, the Project Costing function serves to better manage your budget by creating a cost management plan that determines the policies, procedures and documentation that will be used for planning, executing and controlling project costs.

How Does ProcessPro Global Handle Project Costing?

This application enables your company to track resources to a specific project or capital expenditure by capturing cost and revenue and converting it to project status and profitability reports. With ProcessPro’s fully integrated Global solution, project costs can easily be captured and analyzed to determine if the project should be adopted. Features of the application include:

  • Defining the structure of the project, type of project, accounting levels accrual of income/costs and handling of billing
  • Assignment and modification of project-specific settings
  • Interactive views provide actual project-to-date information compared to estimates, display information about specific projects or tasks and offer drill-down features for greater detail
  • Automated billing of posted time and material charges
  • Service as a time billing solution in addition to job costing
  • Retrieve, income, cost, and/or billing information on a month-to-date, year-to-date and project-to-date basis
  • Create projects that are speculative in nature and change them to billable projects later

As a batch process manufacturer, it is indispensable to have an accurate, timely pulse on your financial well-being as well as the intricate details of individual project financials. With ProcessPro Global and its Project Costing functionality, you can ensure that any project you engage in is worth the return on investment. Contact ProcessPro today for a software demonstration on how Global can take your business to the next level.  

To learn more, check out the other blogs in the “Get to Know Global” series: Fixed Assets.

Tags: Processs Manufacturing Industry