Capture all Costs Associated with your Robotics and Systems Integrations Projects
Sudden cost adjustments midway through a project, or changes in timelines that affect billing milestones, if not accounted for, have a significant impact on the accuracy of budgets, production numbers, ordering and accounting.
If this sounds similar to the challenges faced at your robotics or systems integration company, check out our blog.
Percent-of-Completion and Completed Contract are common accounting concepts in project manufacturing. With so many different elements to contend with, accurate and up-to-date costing and timelines are critical to ensuring you make the best, most informed decisions.
If Project Accounting is a concern for your business, then any ERP manufacturing software under consideration should have capabilities and history working with project manufacturers.
Firms trying to thrive in the Robotics and Systems Integration space face many factors that impact margins and cash flow. Companies that can easily define, manage and display progress throughout a project, while allowing for adjustments for the variety of situations that may arise, will benefit from more predictable cash flow.
Sudden cost adjustments midway through a project, or changes in timelines that affect billing milestones, if not accounted for, have a significant impact on the accuracy of budgets, production numbers, ordering and accounting.
INDUSTRIOS ERP provides a reliable, central platform to communicate these details, and establish and monitor billing milestones. Giving the financial team access to accurate, up-to-date information helps keep cash flow constant and makes it easier to invoice customers in a timely manner too. And your accountant can rest assured that the final reconciliation and bill generated by INDUSTRIOS are dead-on accurate.