Using the Cloud to Optimize Project Profitability: Consolidating Your Firm into a Single Source-of-Truth
Earn 1 AIA LU.
For most small and mid-sized architect firms, the concept of “project accounting” is a foreign term, with accounting often relegated to the dreaded “back-office.” If you want to run a better business, however, you need to bring your accounting functions down to the project level.
Every project manager should be reimagined as a business manager: the CEO of his or her own little company.
Attend this session to learn the remarkable benefits your firm will experience by implementing Project Accounting and the tools you need to start the process right away. Through project accounting you be able to identify where your firm makes – and loses – money, and be able to easily identify which employees, partners, project managers, project types and activities generate the most profit. Most importantly, you can use this information to fine-tune your business strategy, predict both short and long-term growth, and make more informed decisions at every level of your firm.
Learning Objectives:
- Learn why project accounting is not only vital to the success of every firm, but also easy to implement
- Discover how the cloud can enable firms to automate many functions that remain embarrassingly manual, and see how advanced technology such as business and artificial intelligence and data analytics can transform the way firms compile and present project information
- Learn the key performance indicators firms should track, as well as how a cloud-based, single-source-of-truth, can provide unprecedented insights and enhance profitability and
- Better understand how the relationship between project budgeting, scheduling, time and expense tracking, and invoicing can come alive in an integrated, cloud-native solution
