What's New in Maconomy 2.5.2?

Maconomy’s most recent release brings enhancements for finance professionals, project and resource managers and employees. We’ve made some small and some larger improvements across all three user interfaces (workspace client, iAccess and Touch, the mobile app).  Available as of 18 December and highlighted in the December Maconomy Customer Town Hall, .  Read below for key enhancements and benefits, and reach out to your Account Manager or Customer Success Manager to discuss this in more detail.

People Planner Joins iAccess

We’re excited to announce that phase one of a key strategic development initiative released with Maconomy 2.5.2. The People Planner convergence effort brings the fully integrated People Planner add-on solution web components into Maconomy’s web browser interface, iAccess. Our People Planner users know that the web components have been available in the Workspace client interface for a few years now, but with 2.5.2 we’ve brought functionality for employees, PMs and resource managers into iAccess. This is just the start of this initiative, but we’re excited to provide the enhanced user experience for People Planner users.

Let’s take a quick look at some of the new iAccess workspaces. First, the People Planner My Plan view provides employees a quick calendar view of their schedule – view any tasks booked by a project or resource manager. Employees have a self-service option to book a task and request absences.

Next, the People Planner resourcing workspace provides project managers detailed information for individual projects including the list of tasks or activities and people assigned. Project managers can also assign or schedule resources and quickly view the resources assigned to the project with their utilization. View the color coded bars in the bottom right corner that shows resource capacity to instantly understand if resources are burning out (shown red) or if there’s resource availability (shown white) and optimal utilization in green.

The resource management workspace provides resource managers insight into long term capacity plans. It’s flexible to view daily, weekly or monthly. Get a clear picture of your resource situation and reduce the risk of lost profits caused by underutilizing resources that could have been assigned to profitable activities. Understand availability of all resources and make strategic decisions on when to bring on freelancers or subcontractors to avoid unnecessary cost.

Intelligent Character Recognition (ICR) for Mobile Users

Did you know that there is a 27% human error rate for expense entry? Maconomy 2.5.2 brings Intelligent character recognition (ICR) to the Touch, mobile app. It speeds up the expense process and reduces error rate down to 3%. ICR scans receipts and automatically fills in the details in your expense reports with smart text recognition to save your team time, reduce manual data entry, increase productivity and increase security.

Subcontractor Reconciliation

We haven’t forgotten about our finance teams. You, our clients, asked and we listened. Maconomy now auto-converts the currency of the job entries to the currency of the vendor invoice for the reconciled amount as the user selects/unselects. This helps simplify the subcontractor reconciliation process, increases flexibility and allows for multiple subcontractor currencies – saving your teams time and reduces manual reconciliation matching.

Learn More

These were just a few highlights from our December release. Please contact your Account Manager or Customer Success Manager to discuss the enhancements and benefits in more detail. Stay informed on product updates - register for our upcoming Customer Town Hall on March 17, 2021.