The month-end process describes a set of processes undertaken periodically, typically at the end of each month. Most Project Businesses struggle to complete month-end reporting, including financial and operational KPIs. As a result, many forego it altogether, missing out on crucial business performance metrics and making regulatory reporting extremely difficult.
Adeaca Project Business Automation has built-in processes for the month-end procedure, automating much of the work involved. In Adeaca PBA, the month-end process includes:
- Reforecasting (EAC)
- Operational and financial risk reviews
- Operational and financial to-do checklists
- Formal approval of WBS changesets.
- Billing & revenue recognition
The month-end process should be a required support feature in any Project Business Automation solution.