Comprehensive control and visibility from start to finish
It is vital to know which areas of your business are profitable, not only to provide you with the opportunity to make your business more proactive, but in order to control costs efficiently and allocate valuable time and resources effectively. Many business and accounting systems do not have the intelligence to provide you with this level of information – Exchequer is different.
Exchequer is flexible enough to cater for all types of costing requirements. Whether yiour business requires you to record time as a cost or you need a specific job costing in the more stereotypical construction and manufacturing fields, Exchequer’s Project, Job & Time Costing module has been designed to support your business.
The project, job & time costing functionality within Exchequer has an impressive three-dimensional job analysis structure, allowing you to drill-down into ever conceivable area of the costing system, providing the ultimate tool for controlling costs and giving you the intelligence to maximize on the most profitable activities of your business. Projects and jobs can be grouped into contracts to provide analysis at a group level as well as by individual project/job.
Customer Insights - Fast Web Media (www.fastwebmedia.com)
Fast Web Media sees total control from start to finish since adopting Exchequer
Fast Web Media & IRIS
Fast Web Media specialises in web design, online marketing and search engine optimization with clients including Coors Brewers Ltd, The Premier League and Kasteel Cru fine lager.
Fast Web Media adopted Exchequer to handle monthly accounts and payroll data, increase business profitability and improve project costing. The accounts team specifically needed a system that would report actual vs budget historically and year-to-date, as well as being able to provide project reports to measure business profitability.
Adrian Carter, Financial Director at Fast Web Media comments, “In the 6 months we have been running Exchequer we have improved profitability significantly. Information is available more quickly than it ever was before and the on screen drill-down facility means we can answer queries instantly. What’s more, the reporting capabilities allow us to look at profitability by cost centre, project and customer, which is invaluable.”
Each job taken on by Fast Web Media is an individual project with its own budget, team and deliverable. It is therefore vital that Adrian and his team have a way of managing those costs and ensuring work is turned around on time and to budget. With this in mind, Fast Web Media also invested in Exchequer’s Project, Job & Time Costing module.
The module offers a flexible reporting environment that incorporates either job or project based reporting. This is complemented by on screen budget, commitment, actual and variance costs. Projects and jobs are set up in a unique three-dimensional tree, which in itself provides an unparalleled level of analysis.
Projects and jobs can be grouped into contracts to provide analysis at a group level, as well as by individual project/job. Adrian can also explore and drill-down into every conceivable area of the costing system over any period of time, providing the ultimate tool for monitoring and controlling costs.
“By allocating all income and costs to a project, we get much better visibility and control over job profitability,” continues Adrian. “Exchequer highlights all costs to projects and this information enables us to cost future jobs more accurately. We can also review project profitability during the development phase and highlight if projects are likely to cost more than planned. This module provides us with a key to understanding the business, as all aspects of profit generation arise from projects requested by a customer.”
One area that Adrian was keen to improve was monthly accounts being available for the company as a whole, as well as individual cost centres, which Fast Web Media achieves using Exchequer’s Visual Report Writer module. Adrian states, “We create spreadsheets in Microsoft Excel, which are then linked dynamically to Exchequer. Reports are quick and easy to create and templates can be changed to review periods, cost centre, customer, project and so on. This gives a clear picture of the business at all times and was one of the deciding factors when choosing Exchequer.”
In just over half a year, Fast Web Media has gone from having its accounts produced by a firm of accountants, to having an internal system that automates many of the department’s daily tasks. Adrian concludes, “An accounting system is a necessity for any business. The key is having a system that gives you the data output you need to make better profits from the operation. We are not only saving the fees we paid to our accountant, but we have access to detailed information at all times to maximise business profitability. We are delighted with Exchequer and I would have no hesitation in recommending it to other businesses.”
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Compare your current software with the feature list below and just imagine the positive impact Exchequer could have on your business;
- Group and sub-group projects/jobs in a hierarchical tree style structure. Segment projects by phases or group multiple jobs by customers or types
- Feel 100% confident that you are in complete control – look at budgeted, committed and actual costs across unlimited cost heads at any time
- Instantly drill-down to display original transactional information
- Have a range of time recording tools enabling seamless updating of both the project costs and integrated payroll system
- Store original and revised budgets for both quantities and values at any of the analysis levels
- Unlimited free-format notes can be stored against jobs or projects to build up valuable knowledge bases on each job/project
- Flexible invoicing that enables users to raise stage/final invoices using fixed amounts, time and materials or cost plus
- Easy to use screen ensure job creation is a fast and effortless task
- Quick and simple job/project reporting using familiar tools including Microsoft Excel
In addition to all these features, IRIS Exchequer offers a fully integrated and award-winning accounting and business system providing a complete costing solution including stock control, order processing, sales, purchase and general ledgers.
Contact us today to find out how you too can enjoy the same benefits.
Exchequer highlights all costs to projects and this information enables us to
cost future jobs more accurately. We can also review project profitability
during the development phase and highlight if projects are likely to cost more
than planned. We are delighted with Exchequer and I would have no
hesitation in recommending it to other businesses.
Adrian Carter, Financial Director, Fast Web Media
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IRIS Exchequer Project, Job & Time Costing 
