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Project-based organisations face a range of additional accounting and financial reporting requirements, not just from within but also from an increasingly onerous regulatory framework. Internally, project accounting will frequently cross organisational and geographic boundaries, with matrix management placing a further demand for flexible project reporting. Additional complexity is introduced with projects lasting for anywhere from a few days or weeks to a number of years, during which time budgets may also be revised many times. On top of such internal considerations, regulatory compliance and the need for transparent revenue recognition place a further strain on project accounting.
The challenge is to meet these diverse requirements from a single system, with minimal administrative overhead and maximum flexibility. Epicor Project Accounting enables project-based organisations to regain control and remove redundant administrative processes and related costs, creating greater efficiencies which flow straight to the bottom line.
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