Project Financials and Accounting
Real-Time Financial Insight into Your Projects. CBS, Budget Management, Project Costing, Earned Value (EVA), Subcontracts.
What if you could instantly see the financial impact of operational issues in your projects? You can with Adeaca Project Business Automation™ (PBA).
Discover How Project Business Transformation Can Revolutionize Your Organization
Are you ready to transform the way your project business operates? You need more than just software. You need to transform your project organization. Download our exclusive eBook: Project Business Transformation with PBA to uncover the strategies you need to revolutionize project business management in your organization.
What you will learn:
- How Project Business Transformation (PBT) optimizes your project business processes end-to-end.
- Why traditional approaches using tools and solutions simply don’t work long-term.
- The key steps to prepare your organization for a seamless transformation.
- The benefits of real-time insights, reduced risk, and improved decision-making through a unified project business system.
- How Project Business Automation from Adeaca will help you accomplish this transformation
Discover how to take your project business to the next level through Project Business Transformation with Adeaca PBA.
Download your eBook today.
Adeaca PBA™ for Project Financials – See How it Works
Eliminate the need for spreadsheets and standalone project accounting software to financially manage your portfolio of projects.
- Align your financials with your operations in real time, so your financial reports always reflect the current operational plan
- Leverage the WBS to feed your CBS with the most accurate cost estimates from the updated timeline
- Automate the change order process to eliminate manual workloads
- Evaluate cost to complete with real-time work estimates from the schedule
- Report on the financial impact of schedule changes immediately
Create the optimal project estimates right from the start
The PBA Project Modeler™ offers a superior budgeting experience compared to other tools, spreadsheets and estimating apps.
With the Adeaca Project Modeler, your project estimates are created faster and with more accuracy than ever before. Gain speed and control. Enhance your sales and/or initiation process by creating the best project budget from the start.
- Project estimates are formulated through carefully curated cost models
- Enable your estimators and controllers to produce optimal budgets in minimal time and with minimal errors
Financial Project Management Redefined
To effectively manage your project financials, you need a solution which sets projects center stage. Adeaca Project Business Automation™ (PBA) provides a genuine project centric business solution that eliminates the need for complimentary point solutions.
Much more than just project accounting
Effective financial management of projects requires much more than what traditional project accounting systems provide. Adeaca PBA closes the gap between what project industries need and what mainstream ERP and point solutions offer.
A solid accounting framework is certainly required to track actual costs and invoices, revenue recognition, accruals and budgets. However, when it comes to securing project profitability, earned value and supporting effective decision making it is much more important to project and track EAC, variances, profitability, contingencies and productivity while at the same time identifying trends and maintaining a full audit trail.
Project hierarchies
The project portfolio/program hierarchy is the enterprise wide structure which signifies organizational position of any given project. Portfolios are extensively used as reporting dimensions as well as to manage access rights and project aggregation.
To provide the necessary level of reporting granularity and to effectively manage actuals, commitments, budgets and forecasts, projects are broken down into Cost Breakdown Structures. By dividing a project into smaller and logical financial positions, controllers can easily identify variations even at the start of the project life cycle and are able to accurately reforecast to project not-yet-realized variances. Cost breakdown structures are summarized into cost code hierarchies which facilitate cross project and cross company aggregated reporting.
Project Business Requirements Template
The most comprehensive business system requirements document for project-driven processes.
400+ criteria you can use immediately to evaluate any business system for its Project Business capabilities.
- Create or supplement your own RFI or business requirements document
- Set parameters and evaluate vendor demonstrations around the included features
- Rethink your tools and systems strategy supported by tangible criteria
Any company exploring a new project/portfolio management, project accounting, project analytics, ERP, or related system needs this template.
Repeatable Business Processes
Effective management of project financials is a complex proposition that requires a purpose-built solution that sets the project center stage - Project Business Automation. This is something mainstream ERP solutions fail to deliver which typically results in the emergence of stand-alone point solutions to compliment the ERP system.
Adeaca PBA™ is engineered to meet the sophisticated requirements of financial project management all within a single integrated solution, this means no time-lapse or data translation between the source accounting transaction and the financial management tools.
Real-Time Availability of Data
Adeaca PBA not only provides the necessary toolset, but the real-time availability of data and predefined business processes throughout the solution transforms the myriad of financial project management components into a coherent entity, auditable every step of the way and driven by corporate guidelines rather than individuals.
Adeaca PBAâ„¢ Financial Project Management: Capabilities
Cost breakdown structures
The cost breakdown structure (CBS) is the central planning structure against which all financial activities are planned and managed. The CBS is a multi-level hierarchy that allows you to define the exact level of details required to efficiently manage a given project or contract. Change orders, revisions and transfers, contingencies, estimate at completion, variances, progress and productivity indicators are all managed and tracked within the CBS to provide one cohesive construct with the necessary level of granularity.
Budget management
All budget positions are processed within dedicated budget versions against the cost breakdown structure. Budget versions are subject to approval, capturing cost and revenue estimates as well as cash-flow projections.
You may establish project budgets using the Project Modeler, built-in templates, or via XML interface to external estimation tools. Changes to the original budget are processed as revisions, change orders or transfers. A full audit trail of all budget versions is of course available. Budget versions also entail estimation of deliverables, contingencies and undistributed budgets for rolling-wave planning.
Project costing
The periodic budget review process is at the center of establishing up-to-date reliable project performance projections. Early detection is key to effective project cost control. By periodically evaluating Cost to Complete (CTC) and Estimate at Completion (EAC), controllers can predict and record variances before they materialize and in time to take corrective action.
The budget review process also computes updated expectations to project margins and productivity ratios against project deliverables. Project costing is period specific, and a full history of past periods is stored for future reference and trend analysis.
Subcontracts
Project Subcontracting provides the capabilities you need for subcontract management, when the situation requires managing a fluid scope of work, especially when multiple engagements are underway simultaneously. These situations always result in a significant increase in the paperwork and subcontractor oversight required. Adeaca PBA helps you understand and control subcontracts, and provides a seamless integration between the accounting data and the delivery operations.
Tight integration with the project estimation process allows you to incorporate firm prices from subcontract RFQs into project quotes and change orders. Likewise, a subcontract change order can be converted into a client project change order by the click of a button.
Track receipt of required documentation like insurance details, certificates and waivers and block payments against non-compliant subcontracts.
Subcontracts are subject to tight change control and approval processes, this ensures that cost commitments and payments are always based on the currently approved schedule of values and that pending change orders are clearly called out, resulting in clear financial implications in your projects and rolling up into your portfolio.
Considering Microsoft Dynamics 365 Project Operations?
Download the Quick Guide: Dynamics 365 Project Operations vs Project Business Automation
For your project-driven business using Dynamics 365, you may consider the Project Operations. But what is Project Operations, who is it for, and what exactly are you getting? Find out in this Quick Guide.
In this document, we explore the best types of industries and businesses that should find value in Project Operations and those that will need something more. We provide a high-level comparison between the functionality found in Dynamics 365 and Adeaca PBA, so you can decide what makes the most sense for you.
Integrate PBA with your ERP
Streamline and accelerate business processes. Make better decisions faster.
Microsoft Dynamics 365 Finance
Adeaca PBA is built on D365. For D365 Finance customers, seamlessly connect PBA to the rest of your business so eveyrthing works together.
SAP
Bring critical project information into your SAP ERP. Instant access to project costs, revenues, delivery, analysis and more. Get enterprise security and a modern interface with our Dynamics 365 platform.
Oracle
Send and receive critical project costs, revenues, delivery, analysis and more. Get enterprise security and a modern interface with our Dynamics 365 platform.
Learn more about how PBA can integrate with your business system.
Find answers to your questions
Discover more or engage with our project business experts.
Transform with PBA
Download our exclusive eBook: Project Business Transformation with PBA to uncover the strategies you need to revolutionize project business management in your organization.
PBA Fit Assessment
Quickly find out if Project Business Automation will work for your company. Based on your company's profile, we will share how your transformation with Adeaca will solve your problems and bring value to your business.
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