Whether you are new to the ERP world or not, project-based ERP may be fairly unknown to you. You may also be unaware of who project-based ERP is for. This is all completely understandable as project-based ERP is a solution built for companies with a very specific set of needs that rarely fall under the umbrella of a generic ERP system. For this reason project-based ERP is a potent and necessary resource for a fairly large group of industries and firms around the world with unique demands. Knowing what project-based ERP is, who it is for, and why certain solutions are better than others will bring you up to speed on the power and capabilities of project-based ERP systems.
What Is Project-Based ERP?
First of all, let’s define ERP. ERP stands for Enterprise Resource Planning. ERP systems are designed to manage a company’s business data including accounting, finance, CRM, human resources, sales, procurement, budgeting, materials, and manufacturing.
A company uses an ERP system to handle the increasing amounts of front-end, back-end, and employee data that their business relies on day-to-day. A project-based ERP is a system set up to handle all of the tasks of a generic ERP with the huge advantage of being able to support the complex needs of project-based firms and their main revenue source: Projects!
Project-based firms have a complex task ahead of them when trying to track work, allocate resources, and bill clients. They need to be able to see their business in three dimensions. Generic ERP solutions have a plug-and-play type nature to them requiring you to simply enter quantity, price, and cost into the system and let it perform it’s basic addition/subtraction calculations as it chugs along. Project-based ERP systems need to have the flexibility to handle different project structures, pricing formats, and compliance demands for each job. This level of complexity requires a customizable and filled-out system that is unified from top to bottom. For project-based firms this level of visibility and control is paramount to the success of their business, saving them time, money, and other hassles along the way.
Who Is Project-Based ERP For?
Quite simply, a project-based business is a company that generates most, if not all, of their revenue from providing services and delivering projects to their clients. A project-based firm has a team of professionals who have certain skillsets that clients pay to utilize. When a client requests the services of said professionals a project is created to fulfill the needs of that client. The project is then tracked; allowing employees to record time/expenses, project managers to insure everything is on schedule, and controllers to handle accounting and guarantee compliance.
Project-based ERP is for firms that are making a profit off of selling their expertise and time, plain and simple. Whether your work is obtained through a bid-for-contract process or by simple client request, if you are selling skillsets and expertise, tracking time, and building work structures to fulfill client needs then project-based ERP might be right for you.
Why Deltek?
Deltek ERP software was built to meet the specific needs of professional services firm, from big to small. Deltek ERP solutions help efficiently manage resources, better serve clients, and grow profitability for project-based firms. Over 20,000 organizations use Deltek’s project-based ERP solution to manage their organization. It’s flexible customization, comprehensive functionality, and integrated system makes Deltek ERP software a top-tier solution for any project-based organization.
Key Benefits:
- One integrated system to support the entire project lifecycle; bringing together project, financial and resource management
- Scalable solutions to support the needs of ambitious SMEs through to global leaders
- Improved financial management and global compliance. Reduce your DSOs, accelerate your order-to-cash processes and recognize your revenues
- Real-time visibility into all corners of your business, with advanced reporting to enable confident decision making
- Enable collaboration and one version of the truth so your people can work together, and benefit from outstanding usability and accessibility to information
