What Is Project ERP?
Project ERP is a form of enterprise resource planning that is specifically designed to meet the needs of a project-based business, helping them to identify, win, optimise and deliver successful projects time and time again.
Leveraging project management practices and features, project-based ERP provides a holistic view into processes, KPIs and other important metrics, project by project. By managing many functions in a single system, project ERP gathers and analyses data, giving stakeholders the critical business information they need to operate and manage their individual business unit or department.
How Does Project ERP Differ From Traditional ERP?
- Project ERP software is built for the project lifecycle, integrating all business functions and encompassing all processes of a project-based organisation into one solution.
- Traditional ERP solutions are built for product manufacturing, encompassing large, repetitive processes that drive economies of scale through repeatable, streamlined activities.
Who Uses Project ERP?
Project-based businesses use project ERP to power their business and enable success. Although these businesses can be found across a number of widely divergent industries, the common theme that unites them is deriving revenues and profits from the projects they manage for clients.
Project ERP for Architecture and Engineering (A&E) Firms
An A&E firm’s project lifecycle includes business development, project management, resource scheduling, document management and financial management. Whether your firm is small and looking to grow or a larger sophisticated organisation, a project ERP system can help you leap to the next level of success.
Mott McDonald use Deltek’s Cloud-based Enterprise Resource Planning to bring all parts of their business together.
Project ERP for Consulting Firms
Consulting firms face the challenges of winning the talent war, compensating and utilising consultants correctly, delivering successful results and improving client satisfaction. By using a project-based ERP that encompasses the entire engagement lifecycle, you can meet those challenges head on and succeed.
International Consulting firm Analysys Mason use Deltek ERP to connect their growing firm.
Project ERP for Marketing Agencies
Marketing and creative agencies value project ERP because it makes managing their projects, people and finances easier. A Project ERP system takes care of the agency’s left-brain activities, leaving right-brained creatives free to do what they do best and deliver value for their clients.
Project ERP for Accounting Firms
The best accounting firms analyze data to deliver fresh insights and become trusted advisors to clients. Project ERP software helps accounting firms build this value into everything they do by giving them the visibility to make accurate plans, and the insight to improve resource utilization and profits.
Project ERP for Construction Firms
Projects are the lifeblood of construction companies and contractors, so precise, real-time accounting, job costing and project management are essential to success. Whether you’re a startup or a large organisation, project-based ERP gives you the flexibility to use it in a way that best suits your needs.
What Is The Business Value of Project ERP Software?
Project-based organisations have distinct requirements, and they need to view their business in three dimensions: accounts, organisations (departments or business units), and projects.
Unfortunately, traditional ERP software can’t incorporate those dimensions unless it is customised to operate from a project-oriented point of view, which increases the total cost of ownership and takes longer to implement. Not only that—customisation is risky and often doesn’t work well.
On the other hand, project ERP is purpose-built for project-centric organisations, so it does not require customisation. That makes it less expensive and faster to implement than traditional ERP, and it eliminates risks that come with customisation. By tying every transaction to an account, an organisation and a project, project ERP makes it possible to produce accurate and timely insights that are essential to any business, including financial reports, invoices, payroll and project status reports.
Project ERP software helps you to maximise your productivity and revenue
When corporate information and project financials are tied together, you get the greatest return for your ERP investment, with unparalleled visibility and control of your business throughout every project. That enables decisions based on real-time information instead of managing through a rearview mirror. Project ERP software also helps businesses be more successful by streamlining business development, talent recruitment and development; optimising utilisation; and unearthing problem areas and opportunities.
What Are the Key Features of Project ERP?
Effective ERP for a project-based company includes these key features, many of which help to maximize productivity and revenue:
How Is Project ERP Deployed, and Which Deployment Is Best for My Company?
When selecting an ERP for your project based business, a critical decision is whether to deploy it on-premises or in the cloud. Cloud ERP software may be best for businesses seeking lower up-front costs, system stability and ease of access. On-premises ERP may be best for larger businesses with a need to customise system operations and the existing infrastructure to host and maintain their own data. Here are factors to consider:
- On-premises ERP is installed on your company computers and servers, while cloud-based ERP is hosted on a vendor’s servers and accessed via a web browser
- On-premises ERP is usually priced as a one-time license fee (often based on the size of the organisation or the number of concurrent users. Cloud-based ERP is priced as a monthly or annual subscription. In both cases, there are additional fees for support, training and updates.
- On-premises ERP is usually a capital expenditure, that is, one large investment up front. Cloud-based ERP is typically an operating expenditure, an overhead cost the organisation will continue to pay.
- Because proprietary information is stored in an ERP, security is a top concern. Choosing a reputable cloud ERP vendor that has strict data security standards is key.
- One benefit of cloud ERP software is faster implementation times.
Six Tips for Choosing the Right Project-Based ERP
The ERP selection process is more important than ever, because you’re not just buying a tool; you’re choosing a trustworthy partner who will collaborate with you through the digital transformation of your business. Whether you’re seeking a new ERP system or re-evaluating ERP vendors for an upgrade, you can determine the right ERP for your business by considering these criteria:
- A comprehensive, purpose-built solution: Your ERP solution should be designed with your industry in mind, not as a generic solution that needs to be customised to your specific requirements.
- A respected industry reputation: Is your ERP vendor a respected leader in your industry? Look outside of the product and observe the vendor’s influence in the industry.
- Vendor product accountability: Your ERP vendor should own and be accountable for the solution and its roadmap. If a vendor cannot be fully transparent, you may open your organisation up to more risk.
- Scalability: Look for a solution that can easily accommodate your company’s growth strategy.
- Transparent total cost of ownership: Recurring costs should be clear from day one. Pricing models should outline all details.
- Invested in customer care: Look for a vendor independently recognised as having superior and flexible customer service plans, your main line of communication after implementation.
How Do Deltek ERP Systems Power Project Success?
The Nucleus Research 2021 ERP Technology Value Matrix named Deltek the leader for project based businesses—for the eighth time. In the value matrix, Deltek outranks many ERP competitors because its applications are purpose-built for businesses across a range of project-based industries.
“Deltek is a leader…as its project-centric ERP systems continues to drive value and win contracts for its customers”
Nucleus Research 2021 ERP Technology Value Matrix
At Deltek our mission is to deliver solutions that help our customers connect and automate the project lifecycle that fuels their business. We believe that better software means better projects. Our industry-focused expertise makes your projects successful and helps you achieve performance that maximises productivity and revenue.