Organizations expect project managers to plan projects with a specific budget, but the current volatility of the environment, does not help this happen. This is an advantage of Clarity (CA PPM) ,designed to facilitate the alignment between operative and strategy, allowing organizations to involve project managers with those of finance.
Finance directors and project managers are in constant communication. For example, in projects: Knowing the financial categories are correct speeds up the process of facilitating project financial accuracy, and financial accuracy is critical for any project. Less errors and journal entries are discovered and needed to align the financial numbers into the correct buckets. As project managers work with finance managers, the ability to review the financial transactions to communicate and ask questions simplifies and speeds up the process. If numbers are not in the correct category or errors not discovered early enough, the business is making decisions on wrong data: keeping these cost plans in sync with the financial system is critical to running a smooth operation and making sound decisions. At the end,
The ability for project managers to see line item transaction costs during project cost plan analysis keeps the project manager and the finance manager speaking the same language in discovering problems early in a project cycle.
On the other hand, the ease of access, visibility and ability to modify project data is key to ensuring that they are executed on time and within budget. Many CFOs export data from their PPM solution to Microsoft Excel® to better visualize and make adjustments. But exporting data is cumbersome and can cause errors.
How does Clarity PPM improve the work of financial managers?
- enables planned costs to be correctly mapped to cost categories at the beginning of a project for both capital and operating expenses
- aligns the costs at the beginning of a project, thus ensuring the accuracy of the financial category throughout the life cycle of the project
- offers the possibility for project managers to see line item transaction costs during project cost plan analysis
- Clarity’s financial planning pages (CA PPM) have been redesigned to mimic Excel spreadsheets, both visually and functionally, so that users can work with data within the application without the need for reconfigurations or reports multiple This family adoption provides a better visibility of the project, since it does not require any additional learning.
Organizations today are facing a world that is constantly changing, where technology, competitors and customers are continuously redefining what is possible and what is expected. In this environment organizations must make decisions quickly and confidently, knowing that they are acting on the best possible information. With investment budgets limited and the need to generate a return on investment crucial, accurate, complete and timely financial management capability is vital to organizational success.
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Video: Financial Management with Clarity (CA PPM)