Oracle NetSuite Project Management has a wide range of features and tools to help businesses get their projects under control and stay on top of them. It has what you’d expect such as managing teammates, task creation, and assigning to other team members. It also has more robust features than average project management tools.
The platform has multiple options that will allow you to bill projects in a way that makes the most sense for you and your clients. You can bill based on project completion, specific milestones, or a regular timeframe. These billing types can be created specifically for a project or can be recycled from previous uses. It’ll calculate the billable hours (if that’s how you’re charging) and add them to an invoice to be sent to your clients.
Budgeting is an essential aspect of project management and NetSuite works to make sure you stay on time and on budget. You can create an initial budget or job costing and then keep track of it to understand how much you’ve truly spent on the project. Since it’s an entire ERP, it’ll automatically make deductions and additions to the right expense accounts so your books are always up to date.
All projects carry risk to some extent. Sometimes, that risk is easily manageable. At other times, it’s one of the largest determining factors related to the project. The project management suite allows managers and project owners to acknowledge and prioritize the risk of a project. Once risk is established and assigned a value, the finance department can then extrapolate the impact on future revenue growth.