17 June 2020
As part of the 10.2.600 release of its enterprise resource planning (ERP) solution, Epicor has launched the much-anticipated Epicor Advanced Project Management modules, filling a gap in the market for businesses that have a need to manage complex contracts and multi-faceted projects within their Epicor ERP system.
The fully integrated Epicor Advanced Project Management solution provides the ability to manage complex projects and contracts, claims, subcontractors, variations and revenue recognition, natively within the Epicor ERP system.
The extension to Epicor ERP’s core project management capabilities has been developed by Australian software company and Epicor platinum ISV partner Precise Business Solutions. The software has been built within the Epicor development framework, and Precise Business Solutions is one of only two Epicor partners worldwide to do so.
“We know from our experience working with businesses that manage complex projects and contracts, that executing the design, delivery, fabrication and installation for major projects necessitates being able to easily and accurately capture all costs. These projects often involve complex contractual relationships between the customer and vendor, and ensuring that there is automated and easy to use functionality across these value streams is also critical in the New Now of today’s business environment,” said Precise Business Solutions Managing Director, Mark Batina.
“In addition to managing in-house resources and deliverables, the management of subcontractor terms and outcomes for strategic pieces of work can also prove challenging, especially if they are not clearly linked within business processes and systems to the one or more customer contracts they are working on.”
“Epicor Advanced Project Management is the ultimate solution for businesses that manage projects, contracts and sub-contracts as part of their core business.”
Epicor Advanced Project Management extends Epicor ERP’s project capability in three distinct areas that you will not find in another standard enterprise resource planning (ERP) solution:
- Advanced Project Accounting – provides full project ledger visibility, cost-code level budgeting and cost and revenue recognition.
- Advanced Contract Management– define complex contract structures, including a sophisticated billing engine (progress, milestone, fixed price, quantity, planned, cost mark-up, pricelist) with revisions and variations.
- Advanced Subcontract Management– control larger sub-contracts with full work breakdown structures and payment application processes.
“We are excited to release Epicor Advanced Project Management as it enhances our financial offering. This new solution provides our manufacturing customers with the complete control and visibility they need, especially during this time, to make informed decisions and necessary adjustments to ongoing and future projects.” said Lee An Schommer, Senior Vice President of Product Management at Epicor.