Extensive Project & Job Cost Capabilities
Track purchases against projects with budget checking throughout the entire purchasing process.
When you need to purchase, rent, or contract with some external resource to meet your project goal or to complete a job, it’s vital to ensure the process follows the same procurement workflow that other direct and indirect spend follows so that it can be managed and tracked. By maximizing pre-approved spend, you gain complete visibility of your project and job costs and the control you need to ensure compliance.
Paramount WorkPlace Project and Job Costing is ideal for builders, contractors, manufacturers, or any job‐ or project‐oriented service organization that needs to track purchases to a project or job. It allows you to track procurement costs as they move through the system from requisitions to purchase orders to invoices. WorkPlace provides real-time budget management to understand budget impact to the project or job before approval, so you will know whether there’s sufficient budget before committing spend.
Features and Benefits:
- Control: Purchases compared to project/job budget throughout purchasing process
- Insight: Detailed budgeting and reporting features
- Oversight: Robust project approval engine
- Integration: Seamless Requisition & Procurement integration with your ERP or 3rd party project/job cost solution
Terms & Definitions
What is Direct Spend:
Direct spend refers to purchases of goods and services that are directly incorporated into a product being manufactured.
What is Indirect Spend:
Indirect spend refers to purchases of goods and services that are not directly incorporated into a product being manufactured.
What is a Purchase Order:
A purchase order is a commercial document issued by a buyer to a seller, indicating types, quantities, terms, and agreed prices for products or services.
What is Requisition:
A requisition is a documented way to request an action or item for delivery by a certain date, department or individual.