Do Your Project Managers Have Real-Time Insight on Revenue, Margin and Billing Status?

Financially-savvy and successful project managers need comprehensive capabilities for reporting on project revenue and invoiced data for time & materials, fixed price and cost plus contracts. For fixed-price projects, there are a number of different methods needed for recognizing revenue, based on a fixed schedule, percent of work complete, or simply when the work is invoiced.

Whatever method is appropriate to recognize revenue on a contract, it is invaluable for project managers to have real-time insight into key financial metrics such as: what is billable and what has been billed; what is unearned versus recognized revenue; and the differences between billed and earned amounts. This enables project managers to monitor whether projects are proceeding as planned from a billing and revenue perspective.

Furthermore, real-time insight for project managers on the fully-burdened cost of accomplishing the work, and thereby project profitability or net margin, can be invaluable, especially as deadlines or funding thresholds are approached. Analysis should include both actual costs as well as forecasts. Whether through summary or detailed tabular reports, or via graphical charts, empowering project managers with the information they need at a glance increases their financial savvy so that they can ensure project profitability is maximized, and customer expectations are met.

To learn more about how Unanet can make your project managers more financially-savvy, Contact Us and ask for a demonstration of Unanet Project Accounting Capabilities.

 

"I love Unanet! It is great that you can run a report and easily see who is available, what projects a person is assigned to, and how many hours people are charging."- Michelle Graffin Controller, Orbital Technologies
An invoice that used to take 1 person 2-3 days that is now complete in 30 minutes, and a report that used to take 2 hours that is now produced in 2 minutes! - TJ Guarino, Tessada

 

"I’ve never done a timesheet so fast in my life! What an incredible change. I’m so glad we switched. They’ve really done a lot to polish it up, too."- Paco Hope Managing Consultant Cigital, Inc.
"Unanet billing is so great. I don't know why anyone wouldn't use this!"- Jackie York Controller, Quallion
Being able to see where we are on projects REAL TIME instead of waiting for Monday processing has made it much easier to let clients know exactly where we are with their projects. Unanet has set a higher standard for project reporting and there is more to come!. - Jenny Clark director, solvability