Assigning and managing assets in a way that deliver extensive assistance to an organization’s strategic goals is what resource allocation stands for. It involves the process of managing tangible assets as well as make the best use of their human capital. In such a case, deploying NetSuite 2019 Release 2 Project and Billing Management Enhancements businesses can drive productivity in resource allocation and gear up proficiency.
In particular, service organizations find it most critical to manage both soft and hard assets with precision and accuracy. Heavy dependency on people gets even more challenging with the increasing size of the firm. To steer a robust management process, resource allocation should be synced with a company’s product offering, funding mechanism, and customer management system. Hence, accessibility to appropriate tools becomes one of the prerequisites for organizations to allocate their workers’ time, manage to budget, and schedule decisions.
With the core capabilities of NetSuite 2019 Release 2 Project and Billing Management Enhancements, businesses can escalate visibility, drive control, and bring efficiency in the operations.
Project Budget Planning
Making informed decisions as to which kinds of resources need allocation holds maximum accountability for smooth execution of the operations and visibility within a service organization. Constant queries for proper resources, time management, and deriving profit margin for the business often trouble managers.
With the introduction of Advanced Project Budgets, a major enhancement in NetSuite 2019 Release 2, a business can opt for a single-source project budget management tool to escalate project budget planning. Rendering a Work Breakdown Structure, it enables business administrators to monitor costs and revenue in customizable periods. This enhancement offer activity codes linked with Project Tasks to gain visibility into performance. Enabling businesses to make more informed decisions, these improvements assist them in analyzing all the factors to drive improved project outcomes eventually.
Easy Project Completion
NetSuite 2019 Release 2 Project and Billing Management Enhancements assist project managers plan and schedule project phases efficiently. It enables them to check on-time completion of the task through simple processes, avoiding any intricate functions. This advancement assist project managers with Project Workback Schedule to automate the calculation of project schedule, which includes its start date, end date and daily hours required. Also, Work Forward scheduling enables organizations to meet the deadline efficiently, without getting dependent on third-party tools or spreadsheets. Offering extensive capabilities of Project Resource Utilization Target and Resource Allocation Chart Grid, this enhancement assists service businesses to upgrade utilization reporting and optimize resource management through custom segments. Proffering a Lock Time sheet Period features, it enables improved security and checks over timesheet data as well.
Deployment of NetSuite 2019 Release 2 Project and Billing Management Enhancements assist service businesses to wrangle billing terms efficiently. It offers them to arrange unique, negotiated rates for disparate customers amid multiple price processes. This smoothens and simplifies billing processes and reduce errors which can affect cash flow, revenue, and client services. This enhancement offers Billing Rate Card functionality, which includes a drop-down menu per rate card customized for potentials, default project billing, a hierarchy for project billing rate, override capability on rate card functions and default billing rate availability on the customer record. These capabilities stimulate automated and well-administered billing arrangements, which can be viewed from anywhere.
NetSuite 2019 Release 2 Project and Billing Management Enhancements enable service businesses to identify resources, find scope, track time and make a realistic approach to achieve goals proficiently. Its deployment assists the managers to make the most of their management skills and drive substantial profitability to the organization as well.