New Challenges for Project Management in New Normal Era
COVID-19 introduced a “New Normal” to many industries. A recent research showed that many companies have accelerated the digital transformation of their customer and internal operations by approximately three to four years. These changes are not just temporary measures put in place to circumvent COVID-19 restrictions, as respondents expect most of the changes to be long-lasting. Simply put, the digital transformation has already come and it is irreversible.
These changes have also affected project-based industries, such as AEC (Architecture, Engineering, Construction), and Auditing & Consulting firms. Intensive remote work and work-from-home arrangements introduced big challenges to team collaboration. Maintaining project profitability and risk control with the use of Project Accounting and Management tools, allocating and controlling manpower and material resources, facilitating document collaboration and approval flows, as well as developing and retaining valuable staff are some key challenges that every company and project managers need to tackle.
Project Management Solution – Single suite? Multiple suites?
A complete project management solution is usually a joint effort comprising of multiple software suites. There are three suites, mainly the Project Management Suite, the Enterprise, Resource Planning Suite, and the Document Management Suite. The Project Management Suite handles project scheduling, resource management, timesheet and material cost collection, while the Enterprise Resource Planning Suite deals with finance and accounting, account receivable and account payable, purchase ordering & invoicing and budgeting. Lastly, the Document Management Suite is for team collaboration, version control, document approval flows, etc. You can find the trio combination in the diagram below.
Key Processes in a Project Management Cycle
At the start of each month, several days are taken to close transactions and records from the previous month. Closing the month efficiently with precise numbers is of the utmost importance to accounting and project managers for their planning and risk management. Maintaining a healthy cashflow by billing invoices quickly and collecting payments on time, in addition to controlling cost from purchase requests to paying vendors promptly are effective in keeping good partnering relationships. Accurate reporting and data analysis from insightful dashboards allow management to have correct and just-in-time information for informed decision-making.
Superhub’s Project Management Solution
Superhub’s Project Management Solution rides on core Microsoft technologies. At its core, the ERP Suite is powered by Dynamics 365 Business Central, whilst the Document Management Suite is powered by SharePoint Online.. The Project Management Suite is fuelled by the use of Power Platform apps such as, eTimesheet, eClaim, eShift, eDocApproval, eRecruitment, and eOnboarding.
How can superhub Help Your Company with a Smooth Digital Transformation?
With our strong experience and industry know-how in project management, superhub can bring to you:
· Mobile workforce – work anytime, anywhere, any devices
· Comprehensive accounting and budgeting
· eTimesheet and eClaim for digital data collection and approval
· Document collaboration and sharing internally and externally
· Talent management for staff recruitment and training
· Data analysis and business insights for forecast and risk management