What’s New in the Camms.Project Financial Module?

The latest release brings a suite of updates designed to improve functionality, usability, and performance. Highlights include:

• Enhanced Budget Object: Central to the Financial Module, this tool now supports multilevel hierarchical views, monthly data inputs, and advanced filtering.
• Reporting Year Functionality: Manage project budgets over a series of years, allowing more precise tracking and adjustments.
• Purchase Order and Invoice Tracking: Simplify the search for specific data points, enhancing efficiency in financial management.
• Updated Reporting Tools: New features like the Budget Table in the Project Master Report and enhanced Camms.Engage visuals align reporting capabilities with real-time project data.

Why Are These Updates Important?

With the increasing complexity of financial workflows, ensuring accuracy and efficiency has become an essential challenge to tackle. These updates address critical pain points like:

Improving Data Accuracy: With tools to input and track monthly data, professionals can ensure precise budget monitoring.

Saving Time: Enhanced filtering options streamline searches, reducing time spent navigating complex datasets.

Supporting Better Decision-Making: Clear visuals in Camms.Engage and the Budget Table provide actionable insights, empowering teams to act with confidence.

For a detailed look at the latest updates, check out the Release Note.

Who Will Benefit the Most?

These upgrades are versatile and cater to various roles and industries:

• Local Government (Capital Works Projects): Track multi-year budgets, link finances to purchase orders, and ensure projects stay on track financially.
• Finance Sector: Leverage hierarchical budget views and detailed reports to align project expenditures with strategic goals.
• Healthcare and Pharmaceuticals: Maintain transparency and compliance by linking budgets with purchase orders and invoices.
• IT and Construction: Manage change requests and adjustments seamlessly with the Change Register Object.

What’s in It for You?

For professionals tasked with managing project finances, the benefits are clear:

• Transparency and Control: The ability to filter, duplicate, and edit budgets ensures you’re always in control of project finances.
• Flexibility: Monthly data inputs and configurable fields allow teams to adapt to dynamic project needs.
• Efficiency: Automating tasks like filtering invoices or duplicating reporting years reduces manual effort, freeing up time for strategic planning.
• Enhanced Reporting: New visuals and filters make communicating financial progress and insights to stakeholders simpler and more effective.

Fig 1.0: To add a new reporting year, click 'Add New.' Note: Reporting years can only align with the project timeframe.

Fig 1.1: Click 'Duplicate' to copy the budget type. Only the hierarchy within the project timeframe will be duplicated, without any data.

Fig 1.2: Configure the field as 'Monthly' in Object Configuration to enable monthly budget data entry. Look for the 'Pencil' icon to identify editable fields.

Fig 1.3: Use the filter icon to refine budget data by 'Reporting Years' and 'Budget Types/Lines.' When applied, the filter button changes colour to indicate active filtering.

How Can Camms Help?

Camms is committed to delivering solutions that meet the unique challenges of modern project management. Our enhanced Financial Module is designed with flexibility in mind, offering tools that can be tailored to your organisation’s needs. From setting up workflows to configuring detailed reports, our support team is ready to help you get started.

For tailored support in aligning this functionality with your organisation’s needs, connect with a Virtual Consultant for expert guidance and seamless integration.

Use Cases Across Industries

Here’s how these features translate into real-world scenarios:

• Local Government: A council managing capital works can track annual budgets, ensuring they meet compliance requirements while staying within financial constraints.
• Finance: A bank can monitor project expenditures across departments, aligning them with corporate objectives.
• Healthcare: A hospital managing large-scale renovations can link purchase orders and invoices to specific budget lines, maintaining accountability.
• Pharmaceuticals: A research team can track and adjust budgets for clinical trials, ensuring funds are allocated effectively.

Register now for the upcoming Camms.Project Q4 Product Walkthrough to get an in-depth look at the updated Financial Module.

Conclusion

The latest updates to Camms.Project’s Financial Module are more than just upgrades, they’re a commitment to empowering professionals across industries to manage finances with precision and confidence.

Ready to see the difference? Contact our team today to activate these features and take your financial management to the next level.