3 Examples of How Project-based ERP Can Help Your Firm Grow

When it comes to project management systems, the options for small to mid-size firms are wide and varying. You have the most basic project management tools that allow you to manage activities and facilitate collaboration. Then there are project accounting systems that handle task management, time and expenses, and project billing. These solutions have their strengths, but they often leave growing firms wanting more. They allow for limited gains in terms of efficiency, only addressing a small portion of the business processes. So, what’s the solution?

Integrate Project and Business Management into a Single System

When people hear ERP (Enterprise Resource Planning), they often think it’s designed for companies that handle inventory or manufacturing processes. What they don’t realize is that ERP works for all types of companies, including those that are pure service-based, like professional services firms. And they’re not just for large organizations either.

Let’s explore the top three ways project-based ERP can benefit your organization and position you for future growth.


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1. Increased Efficiency

As a growing company, you want to accomplish more with the resources you have. Many small to mid-size firms start out using a combination of different systems and paper-based processes. This works when you’re small, but as you grow, the inefficiencies become clear. Your team spends a lot of time transferring data back and forth between systems. You end up with different versions of the same data stored in separate applications. Data inaccuracies are common when your processes involve multiple manual entry points. And analyzing your data is cumbersome – you have to export from multiple systems, compile the data, then format it in a way that’s useful. Sound familiar?

With a project-based ERP system, all your project and business data is brought together into a single system. Your customer information is maintained in one location that your Sales team, Project Managers and Accounting staff can access. You have a single point of entry for time and expenses, which automatically flows through to update your project schedule, billing and payroll. And with everything in one system, you have real-time visibility into your data, so you can make fast, informed business decisions.

2. Improved Financial Management

In today’s competitive marketplace, clients are looking to work with firms that can perform quality work. But more than that, they want firms that are financially competent. For every project, your clients have a budget and they expect you to adhere to that number. When you run disjointed systems, managing your budget can be challenging. You likely won’t have real-time visibility into your delivered and work-in-progress (WIP) costs. And invoicing is often time consuming when you rely on paper-based processes or have to transfer data from one system to another.

A project-based ERP solution gives you complete control over your costs. As soon as a cost is allocated to a project, you can see it in your work-in-progress. You can easily see how much of your budget you’ve used to date, so you can identify potential overruns early on and adjust accordingly. Streamlined WIP processing makes it easier and faster for Project Managers to provide billing instructions to your accounting team. You can get invoices out to clients in a fraction of the time it used to take, allowing you to dramatically improve your cash flow.

3. Real-time Performance Visibility

As a business owner, you need instant insight into the health of your business. This is often a major drawback of basic project management software. You may get high level project reporting, but it’s uncommon that these solutions will offer comprehensive business reporting. If you’re running disconnected systems, this problem is amplified as it takes hours, or even days, to compile and analyze reports.

When you bring your business data together in a project-based ERP system, you get instant insight into your projects and your business overall. Get updates on your most important KPIs (key performance indicators) at a glance with project and corporate dashboards. Analyze your performance with in-depth reporting at the click of a button. You have real-time access to your data, so you can manage projects proactively to avoid schedule and budget overruns.

In short, a project-based ERP system like Eralis Project, based on SAP Business One, allows you to run more efficiently and more profitably. Eralis Project gives you robust project management capability, tied to financials, payroll, CRM and more. Eliminate the complexity. Streamline your project-based firm from end-to-end.

Contact us to learn more about the solution and to see if it’s a good fit for your firm.


Is your firm ready for a new project management tool?
Take our free project management assessment to find out.


2017-11-15T11:11:02+00:00 Project Management|0 Comments

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