Manage Your Project-based Business More Effectively with the Touch of SAP B1

What is SAP B1 Project Management?

The SAP business one software contains a module names project management that is designed to achieve the business requirements of a company and also offers an amazing amalgamation of functionality to handle the business as a project. This module is specifically designed for project-driven businesses to integrate their systems. The project management module helps the user to get clear insight and control over the entire business project and provides a resilient result. This specific module of SAP B1 helps to improve all sensitive areas of the business including job costing, billing, project planning, etc, by making and executing plans.         

Challenges, a Project-based Business Often Faces

While thinking about starting a business in the field of project management, one should have a brief knowledge about it, because it is not that simple. Every day new challenges come up. Here we will talk about some basic challenges a person needs to face, no matter if the person is experienced or not. In this field, one can face issues like, lack of communications, budget-related problems, lack of clear goal and success criteria, insufficient skills of team members, lack of accountability, time management, and the list goes on.

Despite the availability of a lot of project management software in the market companies are still struggling and wasting a huge amount to handle the issues related to business which definitely affects their budget. To overcome these problems SAP B1 helps the organizations with its ability to reach ever-charging project requirements. 

With help of the project management module, the user gains the ability to monitor the progress of tasks, stages, analyze budget costs. Also, it helps to generate reports on several aspects. In SAP B1 there are 5 stages to create a project

• Initiation
• Planning
• Execution
• Performance
• Finish stage

Benefits of Using SAP B1 Project Management Module

Following are the benefits of using the SAP B1 project management module-

• In a project-based business, it is most important to make accurate planning. SAP B1 allows the user to calculate the exact cost and compare it to estimate costs by streamlining all the project management and financial data with its ability to make better planning and management of projects. It provides a comprehensive overview of detailed information about the project and increases the project lucidity of every single activity, which helps the user to understand the cost associated and prepare the consideration of budgeting and planning for an upcoming project.

• Helps to understand and manage costs related to project tasks with faster and better accuracy than before by amalgamating resources, project-related documents, and transactions. It further helps the company to monitor and track the progress according to the operations. 

• Measures the budgeted cost of a particular task and cost incurred by the project and makes an accurate estimation of the overall project.

• This module gives better clarity of projects by helping the management to create activities and providing a summary of activities performed by the project team, which allows the owner to handle projects with more efficiency. 

• Employees need to present the recorded data to the project manager, who finally decides which articles, expenses or services need to be delivered, or incurred t the customer by approving them. SAP B1 project management contains the ability to complete the work at a fixed price on a key date by pushing a button. It can transfer the project data to the accounting department, also transfer the recorded travel expenses to the employees in a payment run.    

Basically, the SAP B1 project management module adds more flexibility to the company to manage the project effectively ad efficiently. It has the ability to keep valuable data safe and secure. This specific module speeds up the services, customer-oriented quality and allows the company to expand more by handling all the transactions and project-related activities.    

Aspert Innovations Sdn Bhd is a one-stop Business and IT Solution consultancy specializing in complete business resolutions, IT services, enterprise resource planning (SAP Business One), and custom-made solutions. We are enthusiastic about assisting our clients to grow and improve efficiency by transforming and digitizing businesses. It’s a solution to integrate all departments through ERP solutions under one centralized system. It simply helps you see, control, and manage your business with your fingertips from anywhere in the world. For more information visit our official website.