09 May 2018

New solution offers seamless transactions for project-based businesses

Submitted by Kerryn

New integrated project & business management solution to increase control, better manage activities and increase budget tracking.

Projects can range from simple, one-day undertakings through to extremely complex assignments. Therefore, engineering and manufacturing businesses need to become flexible to adapt to the requirements of each project. There are also increasing pressures from clients to ensure projects are executed correctly, efficiently and timeously. To help guarantee that projects are managed efficiently from start to finish, Bluekey Seidor is offering the powerful new SAP Business One Projects solution. 

“Technological innovation, machine automation, systems integration, precise material requirements and job costing are just some of the engineering and manufacturing industry challenges that small to medium sized enterprises (SMEs) have to keep up with,” said Craig Johnston, marketing manager of Bluekey Seidor, the fastest growing SAP Business One partner in Africa. “Implementing and using integrated business management technology will assist SMEs in managing multiple projects simultaneously and streamline the entire lifecycle of each project, from proposal through to invoicing.” 

Some of the common pain points for project-based businesses include:

  • control over total project costs
  • ensuring that schedules are followed and deadlines are met
  • accurate predictability of job completion dates
  • lack of interdepartmental information-sharing and visibility between team members
  • lack of traceable accountability
  • slow turnaround times when putting together project plans for tenders, often resulting in inaccurate budgets and timelines
  • inefficient billing   

According to Johnston, the key advantages of implementing an integrated business and project management solution include streamlining project planning, gaining clearer insight into resource management, traceable project accounting and predictive business intelligence.  

Here is a quick overview of the benefits this new solution offers:

Project planning: Managers can become more efficient by compiling project plans using historical data from projects that are similar in nature. This decreases the time required to build project plans and increases the accuracy and control by using previously refined processes. Resource management: Thanks to interdepartmental information-sharing and visibility between team members, managers can track project activities, tickets, time and expenses on a single project management platform. This will help reduce time constraints through effective resource allocation and detailed planning in order to uphold delivery promises.

Project accounting: All related costs are captured by linking direct labour and material expenses to the current project. Expenses can easily be tracked against budget allocations with real-time accounting reports and visual dashboards. Having better control over costs ensures that projects meet their profitability requirements. 

Business intelligence: Business owners and managers can proactively analyse and manage the business and individual projects using real-time reports. Potential overruns can be identified in advance in order to avoid financial losses and unhappy customers. Details of the profitability of a project can be analysed in real-time, and more informed decisions can be made to ensure that profit margins are achieved and maintained. 

“Implementing an Enterprise Resource Planning (ERP) system with integrated project management capabilities will help project-based businesses better manage their resources, timelines and budgets to protect their bottom line and secure long-term sustainability.” Johnston concluded.