This new partnership enables The ERP Group, LLC to resell, implement and service Beyond Software, a powerful, web-based, financial and project accounting software.
FINDLAY, OH April 4, 2017 Beyond Software, a project accounting software publisher, announced today its partnership with The ERP Group, LLC to resell, implement and service their web-based, financial and project accounting software.
Beyond Software offers a software solution that is designed for small to mid-sized project driven organizations that is affordable and can be quickly deployed. The blend of financials, project accounting, time and expense management and business intelligence in one solution enables project driven organizations to connect their project and financial accounting to provide insight across the entire organization.
The ERP Group, LLC, a leading consulting firm that has delivered financial and project management solutions for over two decades, had a desire to expand their portfolio of products to include a robust web based project accounting solution. The ERP Group, LLC is able to complement their existing product portfolio with Beyond Software and offer a web based solution designed exclusively for project driven organizations. “Our partnership with Beyond Software is a significant and exciting opportunity for The ERP Group, LLC and our prospects and customers, “says Kim Damazo, Principal of The ERP Group, LLC. “Beyond Software allows us to rapidly deploy a solution to optimize financial and project performance. Stakeholders can now view all aspects of the business from a single source to streamline processes and improve decision-making.”
“We are honored to have The ERP Group, LLC as a Beyond Software partner,” said Vern Strong, CEO of Beyond Software. “They have a proven track record with leading ERP products in this market and their extensive project accounting domain expertise will be an enormous benefit to our mutual clients. We look forward to a strong and lasting partnership.”
About Beyond Software:
Beyond Software, a publisher of powerful financial and project accounting software, is a part of the Solomon Cloud Solutions family of products and services. The software facilitates an organization’s ability to manage and execute around their projects, making their business more profitable by increasing visibility into projects, creating accountability within the projects, and improving cash flow through faster and more accurate invoicing and expense management. Beyond Software is owned by Gary Harpst, Jack Ridge, and Vern Strong.
About The ERP Group LLC:
The ERP Group LLC specializes in providing managers with the tools to successfully manage their projects and businesses. They offer solutions to a wide variety of businesses with project-oriented requirements. For more information on how The ERP Group LLC, leader in project accounting and management solutions, can take your business to the next level, visit www.TheERPGroup.com.
Contact: Nicole Holliday
Utilization and Realization are two concepts critical to any profitable professional services organization. The ability to measure both consistently and regularly allow management to align resources to the right tasks, at the right time, for the right reasons. However, the debate continues about what the right formula is for calculating utilization; and therefore, realization. What baseline number should be used to determine the hours available for a consultant to work in a calendar year? How are PTO days (including holidays and vacation) factored into the equation? Are full-time and part-time resources treated similarly? Can you measure utilization/realization for any period of time (i.e. weekly, monthly, and quarterly, yearly) to view possible trends in your business?
Do you have access to all of the information you need to make appropriate business decisions for your professional services firm?
Can you get to the information when you want it or do you have to wait for some process to complete before running reports? Do you need to drill into the detail supporting reported data?
Traditional reporting capabilities enable a point in time view of data. However, businesses run at a fast pace and project managers/executives need the ability to monitor the business as it is moving, make qualified decisions quickly, and change direction on demand. Waiting to make a decision until end of day, end of milestone or end of project may cost you an opportunity. This increases the need to look inside the business at projects in motion and refresh your view of progress frequently. Traditional reporting capabilities may not meet this requirement.
Project software needs to empower the employee to see the priority of their assignments, record time and expenses in a timely, accurate manner, analyze completed work to scheduled work, and alert project managers (and sometimes customers) when the direction of the project needs to change. Your project managers need to monitor their resources and milestones for project progress to ensure quality, on time results. Executives need to monitor all projects to ensure profitability. Enabling this type of functionality requires visibility into the data from views or queries. Parts of the data may be copied into an email or status report to support a change in project direction (to a resource) or explain why a certain piece of work was completed a certain way in response to a customer inquiry. Seldom is a long report printed and gone through with a fine tooth comb. No time for that. It’s time to run an agile services team. One that can flex and change direction quickly while keeping the project on track and on budget. This demands the ability to view filtered data and re-filter on the fly and react to what you are seeing with confidence, in the direction you and your team need to head.
Revenue Recognition - Imagine the Financial Administrator walking into your office, sitting down across from you, staring you straight in the eye, and saying “When can I recognize revenue for this project that your team completed last month? There is a note attached to the project stating ‘hold for billing next quarter.” The Financial Administrator needs to know how to handle the billing on the financial statements. What do you do?
And what about that new project you are about to close and the customer wants to be billed only twice? Once when the project is 50% complete and again when it is 100% complete. It is scheduled to take twelve months to complete? When does the revenue impact financial statements?
The ability to apply revenue recognition rules on a project by project basis, or across a group of projects, enables your firm to account for revenue at various intervals, allows incentive plans to remain credible, allows team goals to be met, and keeps resources motivated to deliver on time results. What seems like a little request affects just about everyone in your firm. If you can manage the accounting properly, everyone wins. Project software needs to provide you with a method to record your business activity in a financially sound manner and send positive results to all constituents (customer, employees, project managers, subcontractors). Relationships can easily be damaged if trust is questioned or if inaccurate billing information is sent. The customer may not consider you as their first choice for future work.
How does Beyond Software provide in-depth reporting on projects and financials?
Along with standard financial reports such as GL Trial Balance, AP and AR Aging, Balance Sheet and Income Statement, Beyond Software also offers a number of project reports. With the project reporting, hours, expenses, and billable amounts charged to a project are available for reporting as soon as they are entered. The project reporting allows information to be looked up, sorted, and filtered as desired to monitor your projects and keep projects on target.
For example, the following three screenshots show how a project executive can quickly and easily use the same console to group and report on the same data in three different ways, giving insight into profitability by project, by project manager, or by project employee:
The decision on which format to use for an invoice can be made at the time of printing. Should your customer need to see the data in multiple formats, the system provides alternative formats to reprint the same data thus satisfying the information needs of multiple consumers of the same information.
To learn more about Business Intelligence Reports and Consoles in Beyond Software, watch this video or contact us!
Multiple invoice formats:
The type of work being performed often dictates the amount of information necessary to print on the invoice. For example, if your services organization is in the business of providing call center support, they may want to know the call center technician name, who the call center technician spoke to, how long they spoke, and details on what was discussed. Another company may want the contact person’s name and a brief description of what work was provided. Yet another company may want to know what time the call took place, how many minutes were spent on the case, broken down by task (research, testing, training, emails), and a brief description of the issue, as well as, the resolution. In the event a customer’s case was worked on multiple times throughout the day, some customers want to see each time as a separate line on the invoice even though the project and task may be the same for all the calls.
If the service provided was negotiated as a fixed price project, your customer may only want to see a description of the service and the fixed price agreed to on the invoice. In this scenario, the number of hours spent on the project, as well as, the billing rate per hour are unimportant and may be left off the invoice. When a fixed price project is agreed to, the customer typically is not expecting many details (if any) on their invoice. Providing hours and unit costs would only aggravate your customer – especially if you were able to complete the project under the fixed price amount.
How does Beyond Software accommodate different project invoicing needs?
When you set up a project, a default invoice format is associated with the project. When you print the project invoice, the default format may be chosen or any other format from the list provided. There are over a dozen formats provided with the product to choose from optionally. This provides the user with flexibility to include the right amount of information to the customer on a project by project basis.
This new partnership enables One Vision to resell, implement and service Beyond Software, a powerful, web-based, financial and project accounting software.
FINDLAY, Ohio, Aug. 31, 2016 /PRNewswire/ -- Beyond Software, a project accounting software publisher, announced today its partnership with One Vision to resell, implement and service their web-based, financial and project accounting software.
Beyond Software offers a software solution that is designed for small to mid-sized project driven organizations that is affordable and can be quickly deployed. The blend of financials, project accounting, time and expense management and business intelligence consoles and reports in one solution enables project driven organizations to connect their project and financial accounting to provide insight across the entire organization.
One Vision Solutions LLC, a leading consulting firm that has delivered financial and project management solutions for over two decades, had a desire to expand their portfolio of products to include a robust web based project accounting solution. One Vision is able to complement their existing product portfolio with Beyond Software and offer a web based solution designed exclusively for project driven organizations. "Our partnership with Beyond Software is a significant and exciting opportunity for One Vision and our customers," says Kreg Decker, president and founder of One Vision. "Beyond Software allows us to rapidly deploy a solution to optimize financial and project performance. Stakeholders can now view all aspects of the business from a single source to streamline processes and improve decision-making."
"We are honored to have One Vision as a Beyond Software partner," said Vern Strong, CEO of Beyond Software. "Their combination of skilled technical staff and project accounting domain expertise will be an enormous benefit to our mutual clients. We look forward to a strong and lasting partnership."
About Beyond Software:
Beyond Software, a publisher of powerful financial and project accounting software, is a part of the Solomon Cloud Solutions family of products and services. The software facilitates an organization's ability to manage and execute around their projects, making their business more profitable by increasing visibility into projects, creating accountability within the projects, and improving cash flow through faster and more accurate invoicing and expense management. Beyond Software is owned by Gary Harpst, Jack Ridge, and Vern Strong.
About One Vision:
One Vision is a leader in implementing end-to-end business systems, enterprise resource planning systems, customer relationship management and role-based dashboards. They offer solutions with decision making tools so organizations can efficiently drive the operational and financial management of the business with real-time visibility. For more information on how One Vision's business applications advisement company, specializing in cloud finance applications can take business to the next level, visit www.onevisionllc.com.
Contact: Nicole Holliday
Multiple billing cycles: weekly, monthly, upon completion, upon acceptance
Do you have customers who want to be billed on a weekly basis, others who want to be billed monthly and some who only want to be billed on project completion? Or perhaps, you’ve been asked to bill upon the completion of specific milestones. Often, customers determine at what interval a professional services firm will invoice them. The timing of billing usually coincides with the customer’s payment cycle. It is common for the work being performed to be part of a larger project that the customer has undertaken, and they need project costs periodically to roll up to ensure the larger project is on schedule and on budget.
How does Beyond Software make it easy to handle billing cycles?
Project Types can be defined to identify when a project should be billed; whether that is weekly, monthly, upon project completion/acceptance, or bill against a retainer. This allows easy identification of which projects are due to be billed when creating Project Invoices and avoids spending time on projects that are not ready for invoicing.
Reduced billing cycle time
One of the common situations a Professional Services firm finds themselves in with a customer (often without warning), is when a customer calls the Project Manager or company owner and wants to know whether or not they have been invoiced for all of the expenses to date. This usually happens at the most inopportune time for the Project Manager/owner. Depending on your company procedure for time & expense entry/approval, your Project Manager may or may not be able to pull up the account and answer the question. Take for example if your resources are entering time daily (as the work is performed) and approved on a weekly interval. If the customer calls in the middle of the week, will your lookup and reporting capabilities take into consideration the logged time pending approval or does the time need to be approved before it counts against the project plan?
Flexible project accounting software allows the PM/owner to view logged, unapproved time as well as approved time. Once the time is approved and invoiced, the PM/owner still have the same visibility into what hours were worked and what hours were billed, enabling them to present up to the minute details on project status with confidence. Timely entry and approval allows your Project Manager to present invoices in a reduced billing cycle, minimizing the number of inquiries between billing cycles.
With a solid billing procedure, customers know when to expect to be invoiced, as well as, where their project is in the project cycle. Should the customer call any time during the project, the Project Manager can easily see how the project is progressing.
How does Beyond Software keep you up to date on billing cycles and project progression?
Looking up information at any time is made easy by Beyond Software’s reporting consoles. The Project Transaction Pending and Billed Console displays the current status of time entered; regardless if the time has already been billed or is still pending approval, making it easy to know the progress on a project and quick to answer customer billing questions with up to date information.
Optimizing resource time is one of the most important job assignments of a Project Manager. Having resources ‘on the bench’ can erode the motivation of the team and the success of the organization. Likewise, striking a balance between billable and learning/educational time is critical to allow the resource to feel invested for the future. Professional team members need time to learn new technologies and hone already established skills. Employers need to find the right balance for how much time resources should spend on each type of project.
This may vary for different types of Professional services firms. Team members focused in industries with fast paced change, like the technology industry, may allocate a higher percentage of time for learning projects, which reduces the amount of time left for billable projects. Responsibility for managing profitable projects rests with the project managers, who depend on resource scheduling/planning tools to optimize where the resource time is spent. Working closely with the team members becomes key to the success of an organization. Assigning the right resource to the right project, at the right time, provides the best possibility for profitability. Project management software must be flexible enough to allow project managers to re-assign resources on demand to keep up with schedule delays, last minute requests, and project deadlines.
How does Beyond Software assist you with resource optimization?
Scheduling is done optionally by assigning resources to projects or assigning projects to resources. Once a resource or project is scheduled, the following can be viewed:
The Resource Scheduling screen is divided into three parts:
Header – This gives information about the project such as budgeted hours, start date, etc. or the resource, such as working hours, manager, etc.
Scheduling Grid – This is where projects are assigned to resources or resources are assigned to projects, depending on which view you are in.
Availability Grid – This section gives information on hours left to budget for each project or hours left to schedule, depending on which view you are in.
With this level of information, your project manager can move around projects/resources to optimize employee utilization and minimize ‘on the bench’ time.
Easy maintenance of billing rates:
Business is constantly changing. Projects are moving along fine and then – just when you least expect it, the project comes to a screeching halt. Resources are put on hold and instructed to work on another project until the details of what happened are reviewed and a clear go forward direction is defined. Once the details are known, the project takes a turn. For example, the customer now requires the project be completed one month earlier than originally planned. To complete the work on time requires additional resources to be assigned to the project. As a result, the team members (resources) must work extra hours for the upcoming month. To cover the overtime, the billing rates need to be adjusted up.
Project focused organizations review their business at least annually, if not more often, to ensure they are offering competitive pricing while maintaining a healthy profit margin. The ability for the software to be updated at whatever frequency the company deems necessary, while retaining a history of billing rates, is a key feature successful organizations expect from project software to help them run their business.
How does Beyond Software allow you to easily maintain your billing rates?
Billing rates can be assigned to a project in two ways; by assigning a table of rates to each billable project, or create override rates for any exceptions to the standard rate table. Exceptions are defined on a project-by-project basis. Every rate has an effective date and a hierarchy of lookup that supports standard rates and exception rates. When a rate needs adjusted, the changes can be made to the standard rate or the exception rates.
Multiple billing rates:
Does your services firm have employees with different levels of knowledge and experience? Do you have subcontractors, as well as full-time/part-time employees? If so, you probably pay them based on their knowledge and experience, which is most likely different for each person.
Do you have projects that are billed at a standard rate for the first x number of hours then a separate rate if the project exceeds that number of hours?
Are your rates the same for each project or do they fluctuate depending on the type of service you are providing the customer?
If you answered yes to any of these questions, you require software that allows you to define different rates based on resources, projects, services performed, and time worked against a project. Plus, you may need the ability to adjust rates on projects based on any number of criteria (i.e. reaching milestones, exceeding number of hours worked, or working premium time (i.e. weekends). The ability to define multiple billing rates for a resource, project, task, or time worked is the key to charging appropriate rates for the work being done.
How does Beyond Software easily handle multiple billing rates?
Beyond Software’s advanced flexible billing functionality makes billing your clients simple, all while accommodating your internal billing processes and your customers’ billing needs. Billing rate markups are applied to source cost transactions that flow to a project to determine the basis for invoicing clients. Billing markups can be based on several parameters including Project Account, Labor Category, Resource and Task. Billing rates can be applied to units (labor hours), or can be factors/percentages that markup direct expense amounts.