Month-End Process: Dynamics 365 Project Operations vs. Adeaca PBA

Applying technology to standardize processes and data to automate and accelerate production is not so easy for project-based companies. Oftentimes, these companies have unique products and business processes that are not uniform. Simply purchasing a traditional cloud-based ERP application will not suffice because it was not built with projects in mind. This means project businesses end up purchasing additional tools and applications to support their critical business processes, because they really need a project business system.

[This is the fourth blog in a series that provides a comprehensive high-level overview of the project business functionality found in Dynamics 365 Project Operations and Adeaca PBA. See the third blog here.]

One of these processes is the month-end process, which involves closing out accounts and balances to do financial reporting at the end of each month. For a traditional business this is common practice that is supported in most ERPs. For project businesses, it is not so easy.

This blog takes a deep dive into the month-end process functionality in Dynamics 365 Project Operations (D365PO) and Adeaca PBA.

Microsoft Dynamics 365 Project Operations

The month-end process is any process or checklist that companies must complete on a monthly basis. This usually includes closing out monthly financials so companies can recognize revenue, report profits and start the invoicing process. There may also be additional operational checkpoints as well including closing outstanding issues or change sets.

While Microsoft D365PO has many benefits, the month-end process is entirely not supported and requires manual manipulation and exports of the data to do complete it.

Adeaca Project Business Automation

Adeaca PBA provides structure and format to the month-end process. The period close framework allows companies to setup mandatory risk reviews and checklists to complete before a project is closed off for the month. In addition, the costing sheet must be completed and signed off along with work breakdown sheet change sets and recent developments in project health indicators (sensor points). This enables companies to apply a standardized and consistent month-end process across the enterprise yielding comparable and trustworthy KPIs.

Above and beyond D365PO, Adeaca PBA adds the following capabilities (and more) to the month-end process:

• Operational and financial check lists
• Operational and financial risk reviews
• Operational and financial period status
• Period close workspace
• Costing sheet status tracking
• Sensor point delta tracking
• WBS change approval

Download this Whitepaper: Microsoft Dynamics 365 Project Operations vs Adeaca Project Business Automation to gain a detailed understanding of the capabilities of both systems and when to use each.

All-in-One Solution is the Way to Go

When delivering projects to your customers is how you make money, it’s important to continually evaluate project productivity, schedule and cost performance indexes, and comparing trends to previous month-end results. Project businesses need a solution that gives them access to real-time tracking of costs and commitments from production, procurement, time sheets, expense reports and inventory consumption. This allows them to have control and visibility into the status of individual projects.

For project businesses that deliver projects that are simple in complexity, D365PO may be enough. But it definitely does not meet the needs of a company with a high-level of complexity in their project business structure. If your projects last longer than a month, it is likely that you will need to recognize revenue on a monthly basis as the project progresses. You will need to look beyond D365PO to do that.

Adeaca PBA is designed to include all your project business processes inside one comprehensive solution. This enables you to know what’s going on with your projects, and how your business is doing overall in real time.