Arxis Technology

Arxis Technology

5 Ways Project Accounting Software Gets the Job Done Faster, Better

Published: 6/8/2017 9:00:00 AM

keywords: professional services automation

Manage multiple projects at once with project based accounting software

With multiple ongoing projects, running a professional services organization can feel like a three-ring circus. Project financials, contracts, and resources make for complex, tedious work—particularly if you have disparate systems. The right project accounting software, such as cloud-based Intacct Projects, streamlines all these moving parts, so you can be more efficient, cost-effective, and profitable.

Intro to Intacct Cloud ERP Accounting Software5 ways Intacct project accounting software calms the chaos of project accounting 

With Intacct, you can track and see all your financial and non-financial data in one place, helping you finish projects on time, better manage projects costs and revenue, and stay productive. Here’s how:

  1. Find a solution that fits the way you work.You don’t need to force your company processes to suit your financial software. Intacct Projects can be easily tailored to automate your unique workflows, without requiring expensive customization. And its rich functionality provides everything needed to run project accounting your way: from project accounting and employee time tracking that includes full-featured costing and resource management, to billing and revenue recognition solutions.
  2. Get projects started the right way, right away. Intacct Projects shows the true cost of past projects, helping you make smarter project bids that protect and improve profit margins. It also integrates with your CRM system, such as Salesforce, so you can see what’s up next, get the right people and materials, and convert bids into projects without manual data re-entry.
  3. Improve resource management.Your associates and contractors might be spread across the country or around the globe, but Intacct Projects keeps all of their key data in one place. You can easily get the right resource for each job, with the right skills and availability, to help you quickly plan and start your project. Easily identify who’s overscheduled and who’s on the bench—whether they’re in India or Indianapolis—to get accurate insight into resource utilization and efficiency.
  4. Automate billing and revenue recognition. To keep projects on track, use proper workflows for entering time and expenses, and give your team members online access to them. Then, using Intacct’s billing automation, you can generate project invoices in the right format, using the right terms and the right amounts. Intacct also separates billing from revenue recognition and automates the calculations and postings, which can be based on percent complete, milestone, or schedule. This separation lets you satisfy both customer expectations and accounting requirements.
  5. Get better insights, give better answers. Intacct Projects is your single source for real-time insights on project performance. Role-specific reports and dashboards give you the information you need, when you need it. You can provide clients and colleagues answers about the status of milestones and invoices, and share insights with management about revenues, costs, and utilization to improve profit margins.

Turn to Arxis, the professional services experts

Track and see all your financial and non-financial data in one place

At Arxis, we know and live the challenges—and reap the rewards—of a growing professional services organization. Let us put that expertise to work for you and boost your firm’s profitability and efficiency with Intacct Projects.