SAP Business One for Project Costing

In the current climate, companies in the project industry face additional challenges in ensuring compliance to the latest industry regulations. As a result, it has become more critical to strive for maximum efficiency and ensure that no project resources are wasted.

Many project companies encounter challenges in tracking their project statuses – each project consists of stages from conception, design, pre-construction, procurement, actual construction to post-construction. In addition to managing multiple projects concurrently, project managers need to continually monitor and manage changes to project scopes, cost overruns and other challenges that can adversely affect project completion and profit margins.

Project companies are also reliant on information-tracking to ensure that they do not under-quote nor over-quote for new projects, as under-quoting puts them at risk of making losses on the project, while over-quoting reduces their chances of winning project tenders.

Without a deep insight into your project operations and efficiency, it is difficult to pinpoint specific areas or stages for process improvement which limits business growth and profitability in the long run.

To counter these issues, a growing number of companies in the project industry choose to upgrade to a fully integrated project costing ERP system to provide them with more accurate and timely insights into their project stages and operations for greater productivity.

SAP Business One for Project Costing

SAP Business One is a powerful ERP software solution that automates and manages your entire business – from CRM, sales and services to distribution, project costing and finance operations.

At Inecom, we specialise in implementing project costing templates and solutions that are seamlessly integrated with SAP Business One. These templates reduce the time to implement your project costing ERP software and helps you achieve rapid ROI on your systems investment.

SAP Business One for Project Costing handles the requirements of companies that manage one-off projects like engineering construction, fabrication, prototyping and services. Your management team and key decision makers will get a deep insight into the full facets of your business, and be better equipped to make macro business decisions.

Here are some of our project costing best practice templates which are in use by our customers;

- Project Costing for Building & Construction companies
- Project Costing for Professional Services companies
- Project Costing for Systems Integration / Installation companies
- Project Costing for Equipment / Machine manufacturers
- Project Costing for Engineering companies

Our template includes these project costing functions;

- Project Tendering
- Bills of Quantity
- Project Budget and Project Costing
- Variation Order and Project Retention
- Delivery and Installation
- Material on-site / off-site
- Project Certification and Claim
- Invoicing by quantity / amount / milestone
- Timesheets
- Subcontractors / AP project costing
- Project Revenue Recognition
- Project Report and Analytics
- Integration with PEPPOL InvoiceNow (Optional)

Customers who are using our project costing templates;

- Case Study for Building & Construction – Positive Engineering
- Case Study for Marine Engineering – Hoy San Stevedoring

SAP Business One with PSG Grants – Up to 70% funding support

The Singapore government is strongly supportive of local Small and Medium Enterprises (SMEs) digitising their operations and moving towards an Industry 4.0/ Smart Nation initiative – one of the support schemes available is the Productivity Solutions Grant. Under PSG, the grant funding covers up to 70% of the qualifying costs, capped at $30,000.

Inecom offers the following 5 PSG pre-approved packages for SAP Business One:

- Package A – 3 Cloud Subscription Users
- Package B – 3 Perpetual Users
- Package C – 5 Cloud Subscription Users
- Package D – 5 Perpetual Users
- Package E – 8 Perpetual Users for Project Industry

Eligibility criteria for applicant companies:

- Business entity that is registered/incorporated in Singapore.
- At least 30% local shareholding.
- Company’s Group Annual Sales Turnover of not more than S$100 million, or Company’s Group Employment Size of not more than 200 workers.
- Purchase/lease/subscription of the Equipment or IT Solution must be used in Singapore.

Click here to find out more about our other industries: Wholesale Distribution, Manufacturing, Service and Repair and Equipment Leasing.