[vc_row][vc_column][vc_column_text]Project-based companies run projects for external clients as well as for traditional service-or product-oriented companies. It involves grouping employees into teams to complete a project. The company determines the scope and budget of each project based on an estimate of the labor and materials needed to deliver the customer specifications. [Companies in project-centric industries must carefully segment, monitor, and report on time and resources more carefully and granularly than other product (or service) based organizations.]
The challenges faced by this line of business are different from those witnessed by product-focused companies. Companies often struggle to set the right scope for projects, allocate the right resources, and effectively execute. The other challenges that project-based businesses must overcome to capture the full margin potential are: [Like any project, the goals are typically: On-time delivery, on budget, and meeting the scope and goals of the project itself. Accurately tracking time, resources and cost are obviously important but quickly identifying inefficiencies, scope creep and other elements that lead to not meeting the above are critical. Managing this not only requires post activity reporting but also helping to anticipate shortages or risk. Some components include:
Project-based companies, therefore, need to invest in technologies that provide a more holistic view of the company’s processes along with project management practices and features.
What We’ve Learned (and, client feedback):
Microsoft Dynamics 365 helps project-based companies to optimize the management of their projects all the way from start to finish. We’ve worked with project-based companies in: Construction, Manufacturing (Engineer/Make To Order), Distribution Services, Real-estate development and more.
This means that you can maximize your performance, deliver projects on time and budget, and therefore, increase billing. The solution is designed to:
Typical Modules Implemented:
Finance, Human Resource, Payroll, Project Management and accounting and Service Management[/vc_column_text][/vc_column][/vc_row]