Project-driven businesses face many unique challenges. From different rates to multiple contractors, from client-specific considerations to simply meeting deadlines, it’s important for these organizations to get all the help they can get.
This is especially true in one area of finance that even product-based businesses have a difficult time–and that is expense reporting.
While many businesses use Microsoft Dynamics SL to bridge the gap between project management and accounting, there are still more lines to connect that any expense reporting software won’t just cut it.
Expense Reporting Needs of Project-Based Businesses
There are many industries catered to by projects-based businesses, such as construction and engineering. Small and medium sized businesses can benefit from Microsoft Dynamics SL to help them manage their businesses while staying on top of projects that go simultaneously or consecutively.
Microsoft Dynamics SL combines project management and accounting functionalities, which include job costings, materials management, receiving, billing, and sales, to name a few.
For those companies with consultants and employees who are travelling or are out on-call, tracking them and serving the ERP software can be overwhelming. Managers and Finance personnel can bear the brunt of it all.
Seamless Integration with Gorilla Expense
Since project-based organizations have to keep costs low and monitor not just their activities per project but also the budgets of each, software such as Gorilla Expense can be greatly helpful as we offer 2-way integration with Dynamics SL to sync project related data
For one, tracking labor, overhear, and fringe costs as they happen is important and can be critical to a project’s success. It’s important to have a convenient, paperless, and reliable system that will help employees record, track, and submit costs immediately.
For managers, tracking these costs is important to ensure that the spendings are within project limitations. Finance need to track these costs and set them against set project budgets as well. Having this system allows them to take control of each project and become more efficient in delivery.
Microsoft Dynamics SL also helps provide flexible billing and invoicing, which is necessary for any organization to service their clients well and foster a mutually beneficial business relationship. This can only happen with simplified workflows provided by such programs, along with integrating software such as Gorilla Expense.
Having such systems in place also helps make collection easy and fast so that companies can go ahead and move on to the next project seamlessly and immediately. This kind of efficiency also has an effect on client perception, thus improving your relationship with them and even having the possibility of repeat projects that further help grow the business.
Furthermore, you also optimize visibility and can therefore track errors or discrepancies. Left unchecked, such small errors can immediately add up and cost your company in the long run.
With Dynamics SL working with Gorilla Expense, you have a faster, smarter, and more flexible way to manage travel and expense reports even for completely different projects. This allows you to be on top of your resources project after project, without skipping a beat.