It’s all about transparency. In light of certain high-profile cases of “less than thorough” financial practices—and ensuing legislation, such as the United States’ Sarbanes-Oxley Act, to address these issues—ProjectPartner includes a number of measures to help you improve your business’ compliance, transparency and accountability.
Regardless of any changes you may make to transactions (whether they be time, disbursements or goods sold) during the pre-billing approvals processes, ProjectPartner always retains an audit trail of what was and what is.
So if you ever need to refer back to the original activity recorded, or need to try a variety of combinations to balance the budget, you can be sure that the base reference information is easily accessible.
And once transactions have been invoiced, ProjectPartner locks them so that no further edits can be made. This security safeguards your data’s transparency, ensuring that billed activity matches your reporting.
A number of ProjectPartner’s reports accommodate both original transaction data and your approved adjustments. Now you can understand the real cost of sticking to those quotes. See whose time is often written off. See if it’s you or your client who’s winning on a fixed-price deal. See the effects of write-ups, write-downs and write-offs. See at a glance when, where and how costs and charges have been finessed to match your budgets and quotes.
Many organizations—particularly larger ones with complex business structures—conduct “trade” internally. To keep them competitive with the outside world, the bottom line for most businesses is that each department is accountable for its expenditure.
ProjectPartner includes inter-departmental cost recovery tools, so that one business unit’s budget for general activities needn’t be impacted by undertaking a special project on behalf of another.