Industry Summary Articles

CONTACT Software extends its costing application. The CONTACT Elements platform now comprises two dedicated modules for the management of project and product costs.

Project managers and controllers thus get tools that are tailored to the special needs of product development and complex infrastructure projects. Their big benefit: the combination of outstanding functions for project and quotation costing with real-time reporting.

All costs at a glance

An important task in project management is the planning and monitoring of project costs. CONTACT Software simplifies this by offering methods that create transparency and ensure continuous controlling.

Project Costing supports users in systematically recording, scheduling and continuously monitoring all costs incurred during the course of the project. As is usual in project controlling, the breakdown is made by cost type, cost center and plant. Project Costing automatically compares expenses and deadlines and synchronizes the cost items with the ERP system.

Users collect key figures on project progress by comparing and evaluating current target, planned and actual costs. This keeps the management informed at all times and enables quick countermeasures in case of budget overruns.

Project costing is also the basis for Product Costing. During quotation preparation, the expected production costs and product revenues are determined on the bases of the initial project costs, the material and production costs of the individual components, the overhead cost estimate and the planned sales quantities for the variants offered.

"Larger projects tie up a lot of capital during their runtime," says Dr. Jan Kickstein, Head of Application Development at CONTACT Software. "Project Costing enables professional cost management that minimizes financial risks and helps companies achieve their profit targets.”

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