What Is JD Edwards EnterpriseOne Project Costing?
Oracle's JD Edwards EnterpriseOne Project Costing offers comprehensive visibility into all project finances in real time, thanks to its extensive project cost accounting capabilities. With a customized view of current costs, budget amounts, final cost forecasts, and percent-complete information for each project, EnterpriseOne Project Costing provides the knowledge you need to meet even very strict budgetary requirements.
How JD Edwards EnterpriseOne Project Costing Automates Project Management
While EnterpriseOne Project Costing is a versatile tool, there are a few primary ways it automates project management, including:
- Keeping data in sync
- Getting accurate project values
- Access to a full range of financial and job information
- Customized views that fit each project’s workflow
Keeping Data in Sync
Project management teams typically use different IT systems, making it challenging to obtain a concise, in-depth snapshot of the project's progress at any one time. Even when systems are linked, they are frequently customized to work in a batch environment. This results in delays because you have to wait until the batching process synchronizes the different platforms.
But with EnterpriseOne Project Costing, all data is automatically kept in sync, enabling you to make real-time, data-supported decisions using information from disparate sources. In this way, you tear down data siloes and put all pertinent project data under a single umbrella.
Getting Accurate Project Values
Because of the vast number of intricate details involved in a project—and the costs associated with each—it can be difficult to factor in every element that impacts costs. EnterpriseOne Project Costing automates the collection of all cost data and centralizes them in a single system. This provides:
- Full visibility into the range of costs across the entire project
- Opportunities to reduce expenses
- The ability to compare the costs of one project phase or component with another
Most importantly, because EnterpriseOne unifies all of your costing data, you can eliminate the guesswork. Uncertainty around what projects cost often ends up driving expenses through the roof and projects into the ground. EnterpriseOne Project Costing gives you the accurate, actionable data you need to manage your expenditures.
Access to a Full Range of Financial and Job Information
Unifying project information can be challenging when you have numerous projects going on at various locations, contracts with many subcontractors, and project owners demanding project managers to adhere to specific standards for progress reporting. With EnterpriseOne Project Costing, you can satisfy custom reporting requirements, the demands of the job site, and the expectations of your corporate office at the same time.
For example, suppose you’re managing a storage facility renovation and an office expansion at the same time. Each project has different suppliers, materials, delivery timeframes, workers, and pay rates. With EnterpriseOne Project Costing, you get a consolidated view of all costing data from both projects. With this feature, you can discover ways to save by purchasing in bulk from certain suppliers, adjusting completion timelines, or sourcing materials from more cost-effective vendors.
Customized Views Tailored to Each Project
Project Costing enables views customization so you can oversee multiple projects in a way that best supports each. With minimal effort, you can set up unique cost codes for different kinds of projects. Then, to save time, you can apply these formats to similar tasks in other projects.
You can also include company- and industry-specific terms in your Project Costing forms. To better suit your workflow, use different column versions and grid formats to modify project information. The end result is a collection of personalized screens that showcase the precise data you need to make quick, data-driven business decisions.
Implement JD Edwards EnterpriseOne Project Costing with GSI
GSI’s experienced team of JD Edwards experts can help you customize your Project Costing implementation—saving you time, energy, and money. We bring industry-specific knowledge and years of proven expertise to ensure your EnterpriseOne Project Costing solution results in an efficient, straightforward cost management system. To learn more, connect with a GSI representative today.