NetSuite’s integrated planning and forecasting tools give construction & industrial firms the clarity, direction, and focus needed to guide every project to profitable success.
Accurate estimations
Before taking on any project, you should make accurate, realistic estimates.
NetSuite gives you the capabilities to:
- Create and track detailed budgets for each project or job
- Estimate purchases, expense and labour costs of a project inc. employees with different individual rates
- Set standard costs for easy project template setup
- View forecasts in detail or summary format
- Track expenditures at the task, phase, or project level as a cost planning tool
- Submit multiple budgets for approval for the same project, compare budgets side by side, and approve the most realistic scenario
- Compare actual costs against multiple budget scenarios
- Identify variances with customisable colour-coding for budget items that are on or off target based on the percentage of planned versus actual expenditures.
Define project objectives
Clearly defined objectives provide a project roadmap, and keeps everyone is moving in the same direction.
NetSuite gives you the capabilities to:
- Create new projects and define their objectives, scope, and deliverables
- Use customisable project templates and fields to tailor each project setup
- Breakdown projects into tasks, milestones, and timelines
- Define project objectives at a granular level and allocate resources accordingly
- Allow users to track project performance against predefined objectives and create custom reports and dashboards to monitor progress
Manage projects
Keep a close watch on projects to identify deviations from the plan, and make adjustments to keep things on track.
NetSuite gives you the capabilities to:
- Make use of reusable templates that provide easy starting points for your projects
- Manage multiple types of projects including time and materials and fixed price projects
- Create project tasks and subtasks, each with associated timelines and dependencies.
- Organise tasks, calls and events, linking them to specific projects
- allows users to quickly and easily capture detailed time and expense data, so project records stay up-to-date.
- Allow consultants and project managers to view summary information about their projects and quickly enter transactions
- Automate job creation by identifying service items requiring projects, queueing sales orders, and bulk creating jobs
- Give managers a consolidated status of all projects, view important KPIs at a glance, and drill down intodetailed focus pages
- Automatically, completely and accurately apply time and expenses to projects.
Monitor projects
Track your progress and monitor associated costs throughout each projects lifecycle.
NetSuite gives you the capabilities to:
- View Gantt charts for visibility into project schedules, planning and scheduling projects, monitoring progress, and start and finish dates
- Use project milestones to monitor critical points throughout a project’s life cycle
- Monitor financial metrics, inc. budgets, estimates, bookings, work in progress and percentage complete, invoices, billing milestones, actual costs and more
- Record project issues down to the task level and track the resolution process with descriptions, severity, dates and assignments
Analyse and report
Mine your data to understand the true costs of your services, and get an accurate and detailed view of profitability.
NetSuite gives you the capabilities to:
- Automatically feed actuals from timesheets and expense reports to populate project figures
- View and compare actual against planned expenditures with project budget reporting
- Get an overview of project expenses and profitability
- P&L, automated job creation and progress-reporting capabilities enable managers to review project profitability based on actuals
- Create revenue and cost budgets to predict margins, and measure those estimates against actual transactions
- Use reports for utilisation and backlog to analyse employee workloads and efficiency
More valuable resources:
NetSuite case study: How ATOM’s revenue grew over 72% in just three years
Discover how terminal management firm ATOM fuelled their growth aspirations with Annexa’s best-in-class NetSuite cloud ERP integration and implementation approach.