Control Capital Projects with Sophisticated Software

Aug 06 2015

Many companies struggle to keep track of capital projects when using spreadsheets or other homegrown systems. At any given point, such systems fail to provide management with a clear picture of the status of a given project or a record of purchase orders and invoices related to that project. This inadequacy also results in a completely disorganized asset register as employees generally have to attempt to go back and locate purchase orders and invoices in order to enter them into the asset register.

The solution to this scenario is a sophisticated project control software system. Real Asset Management’s Project4000 software helps organizations improve compliance with GAAP, IFRS, and SOX, as well as save time and money by automating the process of managing budgets, projects, orders, invoices, and the creation of Construction in Progress (CIP) assets. With Project4000, companies can maintain any number of budgets and control expenditure against projects, fund projects with more than one budget, and easily access analysis of expenditure.  The software conveniently enables purchase orders to be imported from external systems or created within Project4000, and invoices can be imported via the automated import tools and the API. In Project4000, Word, Excel, & PDF documents such as ROIs or copies of invoices, etc. can be easily attached to emails and sent to appropriate people. The software simplifies reporting making it easy to run real-time Budget & Project Analysis reports, Commitment vs. spend progress reports at multiple analysis levels, and Construction in Progress Asset reports. Additionally, Credit Notes and Goods Received can be managed within the system, and lastly, your information is protected with security restrictions. To find out more about Project4000, contact solution@realassetmgt.com