Project Management Module
Manage your projects more effectively with integrated project management, project tracking and reporting with Horizon Project Management. Maintaining tight control over the strategic direction of your projects or supporting resources effectively and ensuring that projects are completed on time and within budget are critical components to maximize service delivery performance and profitability.
Project Management is a key component in monitoring the progress of your projects and ensuring that your business remains profitable. Horizon Project Management is essential to organize work and allow visibility into a complex operation.
It connects project activities with company financials, helps ensure accurate accounting and billing throughout project lifecycles, and streamlines time and expense management and provides extensive reporting capabilities. It standardizes and automates processes for planned materials, including daily material requisitioning and purchase-order creation with procurement and subcontracting. Drive procurement and manage more diverse spend for better contract compliance, increased cost savings, and better visibility for strategic sourcing and subcontracting.
Project Management module seamlessly integrates with the Financial Accounting Module. In addition to project management and time and expense tracking, you can create and issue invoices, compare project performance to budgets and other metrics. Project Management module manages revenue recognition, expenses, unbilled balances, and other project-related financials. It is integrated with the general ledger, accounts payable, accounts receivable, sales orders, purchase orders, inventory management and the Human Resource Management System.
It manages multiple types of projects and project expense categories including labor, materials, sub contracting, overheads, plant and equipments for better monitoring of project across all the integrated modules.
It estimates labor, material, sub contractor, overheads, plant and equipment cost and revenue for jobs based on the values entered in the system using the various expense categories available. This further gets monitored and validate through various integrated modules.
You can bill projects based on completing project activities or achieving project milestones. This can be further certified by the client for actual revenue recognition in the system.
The Project Dashboard gives project managers a visual, graphical analysis of the status of specific projects. Project managers can see important key performance indicators (KPIs) at a glance such as which projects are on time, under budget and destined for success. The dashboard updates automatically to provide you with an up-to-date view of the current health of your projects, while it’s happening.
With the Project P&L, you can now track the progress and monitor costs associated with each project, keeping you on top of financial performance. Monitor project profitability and get real-time visibility into project against estimated project expense categories.
Benefits at a glance
- Track all the financial metrics of a project including budgets, estimates, work in progress, bookings, invoices, profit and costs.
- Monitor and report on summary and detail project-level accounts including project profitability metrics and project budget versus actual in real time using easy-to-read graphs and reports.
- Better Cash & Fund Management
- Effective communication between all departments and attain maximum productivity
- Reduces costs and improves quality and efficiency delivering increased profits
- Usage of Manpower, Material, Plant and Machinery at sites is efficiently done & optimized
- Track project budgets. To track at an individual project level and at a summary level. Gain insights and make better decisions with summary dashboards.
- Closely monitor project profitability and performance, view resource utilization and billing forecasts, understand backlog and view timesheet status.