Challenge #1 : Approving 20+ Subcontractor Invoices (every month)
Problems
- invoices not clearly aligned with agreements
- agreements not readily accessible or not broken down into key stages and amounts
- leadership are processing the subcontractor invoices but need information from the PMs
- time-consuming
Solutions
- require invoices to be clearly aligned with agreements
- setup a contracts repository that includes a breakdown into key stages and amounts
- decentralize: PMs should approve invoices
- systematize to make invoice approval simple & fast
Challenge #2 : Contractual & Financial Clarity
Problems
- project teams not aligned with financial milestones
- missed billing opportunities
- poor design change management
- project teams out of touch with financial realities
Solutions
- breakdown contracts & make the key data visible
- ditto.
- enforce a robust design change request procedure
- provide project teams with real time KPIs
Challenge #3 : Client Billing & Reporting
Problems
- leadership are doing client reporting and billing - but need information from the PMs
- time-consuming
Solutions
- decentralize: PMs should bill clients & create progress reports
- use a templated reporting system
StageProject™ is beautifully engineered to solve these challenges.
- Freed to Design, Innovate, & Lead
- Financially Aware
- In Control
- Empowered
Resulting in increased project capacity & organic growth.
Request a Demo or try the StageProject™ cloud application on your next project.