The fast-paced nature of remote project work requires close collaboration across the organization, timely status reporting, and the ability to reference essential project documents.
However, most software platforms are limited to supporting a specific role, such as Field Operations and Finance. This shortcoming represents a critical flaw: your employees may not have immediate access to the reports and documents they need to perform their job.
This is especially challenging for companies managing a large volume of short-term projects, such as subcontractors, trades and other companies deploying field resources to work at remote locations.
The consequences can be severe, including inaccurate or delayed job costs, shrinking project margins, delayed cash flow, and wasted time searching for documents and status reports (which often reside in a tangle of emails, trackers, cloud storage, or perhaps a stack of papers on someone's desk).
Why is this?
Most Project Management platforms can help your Operations team keep an eye on field activities and milestones but may not provide visibility into relevant financial records. As a result, Project Managers often struggle to stay on top of job costs, profit margins, and outstanding vendor invoices.
Likewise, Accounting Systems can manage your Accounts Receivable and Payable workflows but may not provide direct access into the operational status your Finance team needs to allocate job costs, generate client invoices, and produce timely financial reports.
Get Operations and Finance on the Same Page
Roger Mankus, the Director of Finance at SRU Electric - a full-service wireless contractor headquartered in Cary, Illinois - faced similar challenges while working to improve the accuracy and timeliness of his company's operational and financial reporting.
SRU is committed to a culture of ownership, accountability, and pride. Roger's goal was to help SRU employees achieve these goals with improved software tools and centralized access to all the information needed to perform their jobs.
"Like many companies, we were using multiple spreadsheets and trackers to capture and share important operational and financial status," Roger explained. "This complexity created a headache when it came to keeping an eye on budgets, costs, and profits. By the time we gathered the data and ran the numbers, they were often out of date."