The modern business world is constantly evolving with a great deal of focus on efficient project management. Regardless of size or the industry, all companies are now operating in a project-centric economy and need strong alignment to manage their projects smoothly. This is especially true for growing companies- as they scale, they win more projects, but with every new project come new challenges. In the ever-evolving business climate, businesses are likely to grow more rapidly than they can handle.
To counter this, businesses across the globe are now looking for platforms that can help manage their projects. They want technology solutions that can power their business success, not get in the way. The right technology plays a pivotal role in the comprehensive planning and effective execution of a project.
The need for comprehensive project management software
A robust project management software solution can support companies operating in different industries throughout the project lifecycle with various features that help manage contracts, tasks, operations, resource utilization, billing, etc. Furthermore, these platforms also help project owners and stakeholders gain complete visibility of the project processes. Project owners and stakeholders often complain that they struggle to keep track of the time their teams spend on project tasks. They also have difficulty tracking project costs based on the segregation of tasks, resources, customers, etc. Billing is also a commonly reported challenge. Invoicing the product and the service for the project is complex, lengthy, and error-prone if done without a proper software solution in place.
Dynamics 365 Project Operations – the ultimate end-to-end solution
Microsoft Dynamics 365 Project Operations is one such software solution built predominately to help organizations deliver, manage, and track their project-based services. Dynamics 365 Project Operations is one of the market leaders with respect to project management solutions. It has robust features that can guide organizations through the project lifecycle, from sales to billing and invoicing. Furthermore, it has advanced planning, estimating, forecasting, invoicing, and tracking capabilities that help businesses cut costs, improve performance, and streamline project management. Additionally, an added benefit of Dynamics 365 Project Operations is that it combines all elements of project business. For example, it enables employees to collaborate efficiently, allows for accurate project forecasting, and helps make processes more transparent.
With Dynamics 365 Project Operations, companies can easily increase resource productivity and limit redundancies and downtime. Some of the prominent features of this application include:
- Project management capabilities
- Easy to use drag and drop features and seamless integration with Microsoft Project
- Planning tools for events, creating Gantt charts, etc.
- Advanced resource management through profile and skill matching capabilities
- Pricing and costing features along with project accounting
- Time and expense management features from both mobile and browser interfaces
- Visual tools to assist with budgeting, forecasting, and resource management
- Automated invoicing and integration with ERP (Finance and Operations)
- Actionable insights help optimize solution offerings, uncover new opportunities and improve overall business offerings.
Let’s further elaborate on the benefits a company can enjoy with Dynamics 365 Project Operations as their project management application:
The profitability of a project can be significantly increased by maintaining a tight check on project costing, compliance, and governance. Luckily, Dynamics 365 Project Operations provides the capability to keep all of those in check. Furthermore, it also facilitates companies with features that cater to global projects. These features include revenue recognition, multi-currency accounting, etc.
• Resource optimization
Dynamics 365 Project Operations capabilities streamline scheduling and resource management. Managers can stay on top of resources and ensure optimized productivity with real-time tracking features. Resource optimization helps project managers plan and ensure that the project tasks are completed on time.
• Project success
Dynamics 365 for Project Operations is an efficient project planning and scheduling platform that, when paired with a world class ERP, provides all of your project management needs such as project accounting, costing, resource management, budgeting, etc. The app can allow managers to ensure project success with interactive and user-friendly features. Furthermore, with Power BI add-ons and other Microsoft integrations, the app becomes even more useful for managers.
• Customer satisfaction
With Dynamics 365 Project Operations as your project management software, your project service team can offer clients more accurate cost estimates and accurate timelines for project completion. The built-in management and forecasting tools in the application help project stakeholders achieve their respective goals while staying on track. With precise budgeting and timelines, the project team can also avoid making any changes to the budget, which is a huge plus point.
Microsoft Dynamics 365 Project Operations resides on the same platform as other Microsoft business applications allowing your business to break down the barriers between traditional data silos and allows for seamless integration with communication and collaboration tools like Microsoft Office 365. Its advanced project operations capabilities help highlight project profitability accurately in the bidding cycle and help monitor project budgets. Furthermore, its advanced dashboards and reporting features help track information and metrics throughout the project lifecycle streamlining the overall project management.
Are you ready to learn more about Dynamics 365 Project Operations? Talk to an expert today!