Project Costing Management and Accounting Software for UAE | FirstBit ERP Dubai
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Project Costing

FirstBIT ERP

Project Costing Software

Plan, estimate and manage the project finances

Planning of project revenues and costs

Detailed analysis of project revenues and costs

Project cash flow analysis

Project total cost calculation with indirect costs allocated

Monitoring and control of the key project indicators

Transparent and up-to-date information on projects for making the right decisions

Project Costing Features

Record

  • The key information on each project
  • Revenues and costs by project
  • Purchases and sales by project
  • Cash flows by project
Management
  • Project Cash flow management
  • Project profitability management
  • Purchasing and sales management
  • Cost monitoring and control in project management
Analysis
  • Financial indicators for the project
Planning
  • Project estimating and budgets

Project Costing Software


Plan, estimate, track, and manage the project finances

Suitable for construction, civil engineering, fabrication, contracting, and manufacturing businesses, the FirstBit ERP Project Cost Management Software helps you estimate projects, track overall spending, manage tasks and activities, control costs, eliminate unnecessary usage of resources, and analyze projects cash flow.

Available as SaaS on-premise and in the cloud, the FirstBit system considers all the requirements of developers, builders, construction companies, contractors, and manufacturers. Moreover, it complies with UAE laws and regulations and is supported by specialists in Dubai, so you never have to worry about local legislation.

Gain complete control over your project expenses with FirstBit Project Cost Management Software

  • Project revenue and estimations
  • Project cash flow management
  • Data-based insights to increase transparency and control
  • Streamline Interdepartmental communication
  • Financial and operational indicators for every project

Key Features of FirstBit ERP Project Cost Management System

Cost Estimates

  • Project Estimating and Budget: Import Bills of quantities, create estimates and budgets for each project considering the expenses to improve your profitability. You can create and use estimates and budgets for any number of projects in FirstBit.

Project Records

  • Project Details: Find every detail of a project, such as estimates, budgets, financial documents, resources required, and deadlines, in one place.
  • Revenues and Costs: Leverage accounting to manage the revenues and costs of each project to ensure you don’t go over budget and generate a higher return on your investment.
  • Purchases and Sales by Project: Track how much you spend on material purchases, subcontractors, overheads for each project using the bill of quantities items and billing status for the same to ensure you are on the profitable path.
  • Cash Flow by Project: Keep note of how much cash flows in and out of your organization concerning specific projects and avoid financial issues and cash gaps.
  • Project Progress Updates: With FirstBit ERP it is easy to prepare and submit Project progress updates to your Consultants and Clients. Project progress data is also connected to the software’s finance and accounting module.
  • Project Time Cards: You can maintain time card entries for in-house and hired labor, equipment, and assets to ensure proper project cost allocation.

Cost Management

  • Cash Flow Management: With the FirstBit construction project cost control software, you can get a bird’s-eye view of the cash flow for all the ongoing projects in your organization.
  • Procurement and Billing: Keep track of all your BOQs and sales receipts/invoices in one place. Match them to determine profitability and ensure accurate accounting with FirstBit ERP System.
  • Project Profitability Management: Determine the project’s ability to yield a profit even before signing a deal. Keep track of profitability at all project stages to ensure you’re reaching your goal.
  • Project Cost Control: Monitor your projects’ costs in real-time using the FirstBit cloud ERP and implement control measures before it's too late.Track available BOQ Items, what was requested, placed in POs, what was received, and what is still pending.

Analysis

  • Financial and Operational Indicators of Projects: Define your KPIs to track in real-time the metrics that matter the most to your organization: Earned Value (EV), Schedule Variance (SV), Cost Variance (CV), Schedule Performance Index (SPI, Cost Performance Index (CPI), Estimate at Completion (EAC), Variance at Completion (VAC).

Deployment Options

Cloud
On-premises

Get a Free Demo of FirstBIT ERP

OR Call +971 4 439 6900

FAQ

Is it possible for Suppliers to submit their bids through URL link?
FirstBit ERP can import supplier Quotations through Excel or it can also generate a URL link as a part of RFQ, using the link Suppliers can enter their prices for requested Materials and Services, which later will be available for comparison in the software.
Is it possible to generate Payment Certificates using the software?
Yes, a Payment Certificate can be generated from FirstBit ERP software.
Is there multi level Approval system for Material Requisitions in FirstBit ERP?
FirstBit ERP has built-in Approval designer, which allows configuring multilevel workflows for all transactions in the system, including Material Requisitions.
Can we enter Project Progress Report with site pictures using a mobile app?
FirstBit ERP has iOS and Android mobile applications, where site engineers can enter Project progress reports and attach pictures from sites.
Can we calculate Cost Performance Index in FirstBit ERP?
Provided that all project progress data is timely updated, the software will be able to calculate for you the Cost Performance Index (CPI) and Schedule Performance Index (SPI).
Can we add Project templates to FirstBit ERP software?
Yes, you can create Project templates and Project Task templates in the software to help to create Estimations faster.
Can FirstBit ERP import Project BOQs?
Yes, the BOQ file can be uploaded with customizable excel uploaders.

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