Finance and leadership now get combined, accurate project profitability analysis for the work under a contract, regardless of its billing requirements. Project Operations deployed for resource or non-stocked scenarios now support multiple billing scenarios with the flexibility to define what to bill for, whom to bill, and when to bill for each contract line all the way down to the task level.Ĭustomers will now have the flexibility to use multiple billing methods in the contract while keeping the work in the same project for easy management and invoicing. Another example of complex contracting requirements is when multiple organizations need to be billed for different sets of tasks under the same project. Sometimes a set of project tasks are complimentary or not chargeable, like proof of concept or presales activities, while the remaining tasks may require fixed fee or time and materials billing. In project-centric businesses, account and project managers often face the challenge of accommodating their customer’s complex billing and contracting needs. Accounting and finance can see non-stock material costs immediately and invoice customers for their usage. Project team members and project managers will be able to track and approve non-stocked material usage against the project, enabling downstream accounting. Procurement agents will have the ability to record pending vendor invoices for projects and provide these insights to all personas involved, from the project manager to the project accountant.
PROJECT PLAN 365 PROJECT SUMMARY TASK UPDATE
This update will also allow consumption tracking of these materials during the project delivery phase so project accountants can invoice customers for their use. With this update, sales and account managers using Project Operations deployed for lite and resource or non-stocked scenarios can provide more accurate quotes based on estimates, including non-stocked materials and their pricing as well as project contracts that contain services and materials. In our first 2021 release wave 1 for Dynamics 365 Project Operations, we’ve refined and enhanced features that will continue to empower your project-centric business.
Since its launch, Microsoft Dynamics 365 Project Operations has connected sales, resource management, project management, and finance teams within one application to help win more deals, accelerate project delivery, and maximize profitability.
Ultimately, project-centric organizations are always looking for ways to optimize their operations and improve their bottom line. In today’s increasingly complex business environment, project-centric organizations face a variety of challenges to succeed challenges like winning new deals, optimizing resource utilization, simplifying time and expense processes, streamlining project financials, and gaining key business insights.
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