As project deadlines shorten and budgets tighten, it has become more important than ever that project information be easily traceable, reliable, and up-to-date. This is why it has become a necessity to have more accurate and real-time reporting so that everyone is reviewing the same information across your organization so that all departments may be able to make informed business decisions based on the same information.
The challenge is that different departments have different needs and this usually means that the information is entered into separate systems in order to adjust for these particularities. The problem is that this typically results in information that is potentially duplicated, miscalculated, or forgotten all together when trying to merge with other reports or groups, therefore making it more difficult to ensure the integrity of the data.
This infographic looks at the different requirements for both the finance and operations departments and the advantages of having a fully integrated project management and accounting system so that you will be able to bridge the information gap between these groups.
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By, JOVACO Solutions, a project accounting specialist for Dynamics GP in Quebec,