Also referred to as Job Management, Financial Project Management is the ability to track actual job/projects costs against estimated costs and actual revenue against quoted fee.
Ultimately management want to know the profitability of a ob/project compared with estimated profit. By reviewing performance management can make decisions about performance of staff and subcontractors. Management can also determine whether certain lines of work should be pursued.
Historically businesses have attempted to use spreadsheets and/or accounting packages with mixed results. There are a number of online apps and WorkflowMax is a strong contender
In one word – integration.
Quotes integrate with jobs; jobs integrate with time sheets; costs and invoicing; invoicing integrates with Xero