Many companies operate as project-based businesses, delivering projects to different clients that vary in scope, price, and scale. Some examples of project-based companies include architecture firms, creative agencies, government contractors, consulting firms, contracting firms, and accounting firms.
Unlike product-based companies, which have a more straightforward method of measuring sales based on the number of units sold, project-based companies need to keep track of their success on a case-by-case basis.
That’s why many project-based companies have started using project ERP software to help them manage their workflows, keep track of their accounting, and ensure their customers are happy.
This article will break down the specific features of ERP software that can benefit project-based companies of all industries and sizes.
What is ERP Software for Project-Based Teams?
In general, enterprise resource planning (ERP) software allows businesses to manage every aspect of their operations from a centralized dashboard. This can include departments like human resources, accounting, marketing, business development, IT, and more. In addition, ERP software can be cloud-based so that you can access it from anywhere and on any device.
Product-based companies can easily track their sales data using ERP software. However, project-based companies have different needs than product-based companies, so their ERP needs vary slightly.
ERP software that is designed for project-based teams can handle the complexities that come from working with multiple departments to manage long-term projects. Their modules can incorporate manufacturing and production, accounting, marketing, communication, and other essential functions required to fulfill a project.
Benefits of ERP Software for Project-Based Teams
Here are some benefits of using ERP software for project management and project-based companies.
See where a project is at any time
Complex projects require the work of many different departments from start to finish. That’s why having a centralized dashboard that offers insight into what every team is doing can be beneficial for project-based teams.
Any stakeholder, including a project manager or customer success representative, can quickly get insight into where a project is at any point simply by looking at their dashboard. This can help them make decisions and keep the customer apprised of the current status of their project. It also helps project managers identify issues as soon as they arise so they can address them quickly.
Keep track of all data points
There’s a lot of data involved in project-based companies–budget, deadlines, milestones, labor, revisions, and more. The challenge is that, often, different teams handle different data points. For instance, the team handling a client’s budget doesn’t always share the most accurate information with the team managing labor, leading to challenges for you and the client.
With ERP software, every data point is tracked and measured in the same place so that everyone involved can see it. This transparency reduces miscommunication between your teams and your clients, allowing you to move forward with projects as efficiently as possible.
Keep track on a project-by-project basis
Traditional ERP software gives insights into departments for the company as a whole. However, every project is a little different, which means every project needs to be tracked on its own instead of collectively.
When you use project ERP, you can break insights down by the project. This makes it easier to keep track of things like accounting and labor for individual projects rather than trying to make sense of it as a whole.
Keep track of deadlines
You can’t possibly keep track of every deadline in your head. So you need a way to stay organized so you can manage deadlines for multiple clients.
With project-based ERP from platforms like Odoo, you can use whatever organizational style works best for you, whether that’s a traditional calendar, Kanban-style board, graph, or Gantt chart. This makes it easy to see which deadlines are a priority so you can focus on hitting them first.
Stay organized with document management
Project-based companies tend to use multiple documents for each client. In addition, these documents are often created by different team members in various departments. This can lead employees to waste time tracking down the missing documents or accidentally repeating work that they didn’t realize had already been taken care of.
Project ERP software can help you stay organized with document management that ensures every document related to a project is kept up to date and indexed so anyone can access it at any time.
Improve project-based communication
An essential part of successfully running a project-based company is staying in constant communication with your team and clients. Project-based ERP can help facilitate communication in several ways.
For example, with Odoo, you can create custom alerts for projects so that everyone working on a particular project gets notified when there’s a new change or announcement. You can also use tools for real-time collaboration to make it easy for teams to work together on a project even when team members are working in separate places.
See where things are in your supply chain
If your project-based company relies on the supply chain, ERP software can help you track it. See where things are in the supply chain so you can quickly identify when things will be out of stock or running late. You can also track shipments and make adjustments as needed to keep your projects running smoothly.
Do You Need ERP for Your Project-Based Company?
ERP software can help companies in just about any industry and any size. It’s flexible and scalable, so it will grow as your business grows. ERP software can significantly improve your communication and project management for project-based companies to streamline every project and ensure you deliver projects to your customers on time and on budget.
We know it can feel overwhelming to choose the right ERP software when there are so many options out there. Fortunately, we’re also experts in ERP software! If you like to know more about our discounted Odoo pricing and get a free Odoo demo online, get in touch with our Odoo Support and Maintenance Team.
Get in touch with a Confianz specialist who can learn more about your business and help you determine the best ways to use ERP software for your company.
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