Engineering Services and Project Consulting companies can keep their projects ‘on track’ with Sage Accpac ERP
What business challenges made it necessary for the project engineering vertical to adopt Sage Accpac ERP solution?
Our customers faced typical challenges related project and material management. For every project that is won, post analysis and requirement scoping, a detailed design and component selection is undertaken. A Bill of materials is then created which goes to the purchase department wherein it has to be logged in against the specific project. In such a complex scenario there is a major challenge in material management, tracking and planning. Also since there are various costs to be incorporated into the project billing, such as material cost, time cost of man-hours spent by personnel from multiple departments, you require a system that could ensure accurate time and materials costing. The billing process is also quite complex as invoices need to be raised at any phase of the project. To summarize accurate project cost visibility across all phases is a major challenge
Apart from needing a project job costing solution, there is also a requirement for robust accounting software tightly integrated with the project job costing module to ensure accurate financial visibility.
What are the modules of Sage Accpac ERP used in this vertical?
Purchase Order, Inventory Control, Project and Job Costing, General Ledger, Accounts Receivable, Accounts Payable and Optional Fields are the modules which the Sage Accpac ERP system for this vertical.
How has the process improved and what are the benefits accrued with the implementation of Sage Accpac ERP?
• Project Engineering companies require strong material management. The Project Job Costing module of Sage Accpac ERP enables companies to do efficient material management, keep inventory costs under control and streamline material procurement process. The benefit- timely delivery to customers
• Sage Accpac ERP with its project cost tracking capabilities ensures accurate tracking of various cost elements relating to people, material and travel. Since it automatically tracks the project cost throughout its life cycle, it allows the managers to keep track of project profitability at all times.
• Tight integration of the Project and Job Costing system with finance and purchase functions benefit to evade duplication of entries and ensures accuracy of data. Also the automated billing features in the job cost accounting software streamlines customer invoicing this makes certain there are no leakages in the billing and it takes place on time.