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Leading Analyst Predicts Paradigm Shift in Project Industries, Are You Ready?

Project-driven companies have been operating the same way for the last 30 years, which has led to stagnant productivity and poor business management. One leading global analyst report rejects the status quo and promotes a new path forward that completely changes how these companies operate.

Forrester, a leading global analyst, has released a new report that supports a change in how project-based companies see themselves and how they adopt business systems. If you are a Project Business (e.g. construction, engineering, ETO manufacturing, professional services), this report predicts a very different future for you.

The Forrester Now Tech: Project Business Automation Solutions report confirms a growing trend toward a new approach in solutions for project-driven organizations. Project Business Automation (PBA) rejects the status quo of disparate, disconnected applications in favor of one integrated business system – one that includes support for all project business processes and connects them seamlessly in real time. This approach ushers in a completely new paradigm in project industries.

The best way to learn about PBA is to Download the Project Business Automation Blueprint. It is the definitive guide to establishing a comprehensive business system for project-driven companies.

Project Business Automation Blueprint

How is PBA different than other “apps” claiming the same thing?

In order to create a complete business system, it must tie together support for all major business processes. For Project Businesses this not only includes backend ERP functionality, such as accounting, general ledger, customer management, HR, supply chain and MRP, but also project-driven processes, such as project financials and accounting, project management and operations, project sales and proposals, project insight and analytics, as well as project owner collaboration.

PBA is the only system that reaches this level of comprehensiveness.

Other apps typically only address part of these business areas, not all of them. For example, you could use a very sophisticated project management application, but if it does not connect in real time to your backend financials, you will have a difficult time running an enterprise based on projects. You will likely employ hoards of IT and financial controller resources to maintain these applications separately and reconcile the data between them.

Why PBA Matters?

PBA provides instant connections across all business areas and this approach revolutionizes how Project Businesses operate. PBA is driving three significant changes in the industry.

First, PBA creates massive efficiencies and benefits beyond what any one of these separate applications can do on their own.

  • Real-time insights and visibility that took them weeks or longer before
  • New capabilities that were not possible before, such as project modeling
  • Significant cost savings through process improvements on by an order of magnitude

To get a better understanding of the comprehensive functionality that should be contained in a PBA system, Download the PBA Requirements Document. This template provides over 400 criteria by which business systems for project-based companies can be evaluated. As such, it provides an overview of all the functionality PBA replaces from other point solutions.

project-management-kpis

Second, PBA endorses a new macro-industry approach  – Project Business. PBA looks at all project-based companies (e.g. construction, engineering, ETO manufacturing, professional services, etc.) as fundamentally similar – they deliver products and services to their customers through projects. 

PBA views this similarity as essential. These project-oriented processes make up 70 to 90 percent of their operational activities. Therefore, PBA is designed to address these core needs.

Beyond these core project requirements, specific industry support may be required. However, this portion typically makes up the 20 to 30 percent that is unique to them.

PBA supports the notion that these companies should address these core conditions first, and this approach will drive substantial improvements.

Third, PBA stands to eliminate other major project applications. As a result of PBA’s comprehensive approach, standalone applications such as project management, portfolio management, estimating software, and of course spreadsheets, can be eliminated. Additionally, ERP and accounting systems are now fully integrated into PBA as well.

By subsuming all these applications in one solution, PBA not only reduces the costs associated with these other applications, it also creates massive efficiencies by eliminating the need to manually move, manipulate, and reconcile data between these systems.

Adeaca PBA is the First

Adeaca created this vision of one integrated business system for project-driven organizations and developed the first PBA solution on the market.

However, it is about more than just Adeaca. PBA is a movement that can change the industry dramatically for the better. Project Businesses have been operating unproductively for decades. We see PBA as a catalyst for a sea-change for Project Businesses to demand more from their business systems, and for technology vendors to step up to the plate and deliver accordingly.

Forrester’s adoption of the category and terminology clearly validates our groundbreaking approach to transforming Project Business with PBA.

About the author

Matt Mong

Matt is a Vice President for Adeaca and is on a mission to create the Project Business Automation category in the market. He is leads Adeaca's thought leadership in project business. He has significant experience in high-growth ventures, helping companies gain awareness and position themselves as leaders in their industry.