Project Revenue Management
Khameleon's Project Revenue Management can help your business
achieve revenue insight and control.
In a project-oriented business, companies often recognize revenue as projects progress by using a range of schemes defined by customer contract terms. Effective project revenue management requires clear visibility and control of the entire project process to make sure bills are issued at the right time and in accordance with contract terms. Khameleon's solutions put all the tools to do this into the hands of executives, project managers, and the financial staff.
For starters, Khameleon's contract management applications serve as a central repository of the terms and conditions of each customer contract. Billing and accounting rules are applied accurately by contract type and contract line item, assuring compliance to company policies, contract terms, and accounting standards, including Sarbanes-Oxley:
- Time and expenses
- Plus markup
- Percentage complete
- Fixed price milestones
- Periodic billing
- Partial period proration
Khameleon issues bills as soon as contract terms allow, ensuring incremental costs are covered by automating the billing of additional revenue items, including:
- Change orders
- Deposits and retainers
- License and royalty fees
- Revenue splits
Khameleon's analytics routinely deliver revenue performance insights to executives and other need-to-know employees throughout the organization. Workbenches present key project revenue management measurements and compare revenue performance to budget. Contract revenue schedules are clearly visible, so if a revenue plan is at risk, it's easy to drill down into specific projects to find the causes and take definitive action.
Khameleon supports better cash management too. The Collections Agent Workbench provides contract content information, sales order, contract, and project aging data, and the accounts over-90 days information needed for crisper cash collection.
Khameleon also provides tight control of the project revenue management process through its integration of contract, project execution, and project accounting and billing applications and the delivery of performance analytics to Workbenches. Khameleon's solutions have the flexibility to implement multiple contract types in business with multiple operating sites and automate revenue forecasting and recognition.
To learn more about Khameleon's project revenue management, project accounting, and other project-centric solutions, talk to one of our project experts today at 800-655-6598.