Project-based enterprise resource planning (ERP) systems provide an end-to-end business solution with transparency for all departments at companies that generate revenue by conducting projects. These systems contain modules that address financial management, accounting information, billing, time and expense management, material and human capital allocation, payroll, and governance compliance for each project worked by the business. By recording all project-related information, companies gain visibility into what type of projects are the most profitable and which may be a waste of valuable resources, whether that be manpower or material resources. Such transparency also offers insights into budgeting, resource planning, and forecasting for future projects. When all departments have access to such information, businesses can work cohesively and internally to create best practices for the company. Industries that may utilize a project-based ERP system can include engineering, procurement, and construction businesses that manage jobs on a per-case level. Other businesses may include architecture firms, contractors and consulting groups, and research teams, among others. Project-based ERP systems require precise project management to maximize profitability of each project. While product-based businesses generally utilize an ERP suite, companies that manufacture for specific projects can utilize a project-based ERP system to better understand essential business processes. These systems may also offer similar functionality to professional service automation software and integrate with CRM systems.
To qualify for inclusion in the Project-Based ERP category, a product must: