Project Accounting

Information for strategic and detail-level decisions. Ideally, every project delivers a high margin, but unless expenses are visible and controlled as the project unfolds, there's a high chance of disappointment. Manual systems, viable when a company is very small, become burdensome and fall behind in times of growth, unable to keep up with the details or provide strategic insights. Khameleon's cost-efficient project accounting software automates the entire project accounting process, so the days of manual records, spreadsheet tracking, and multiple data entry are over.

Strategic decisions

When executives can see the costs, revenue, and profitability of each project as it progresses, they can make strategic choices about how to handle variances. For example, it may be best to consider a specific project as a loss leader, whether for a new customer or a long-term one. Cost overruns in other projects may indicate systemic resource underestimates, outdated processes, or underpricing.

Fresh data gives executives insight into the reasons why some projects are profitable while others are not. Summarized by project, customer, product line, industry segment, region, or any other way to organize a business, executives have powerful insight into their business performance with our Oracle-based project accounting software solution.

Detailed project implementation

Khameleon's project accounting software makes project costs visible without distracting employees from their primary work. Each project becomes a central repository for costs, and Khameleon's catches expenses as they happen:

● Employee time and expenses

● Subcontractor time and expenses

● Third-party product costs

● Third-party service and maintenance costs

● Ongoing service-level arrangements

● Warranty agreements

Khameleon's project accounting software also compares expenses to project budgets, sending up early warning alerts should actual costs exceed your plans. It routinely provides cost information to the project team so it can monitor performance and take corrective action when necessary.

Many companies deploy Khameleon's Oracle-based project accounting software as a standalone business system. Some combine it with Khameleon's other project-oriented software applications, such as project management, inventory management, and project billing. Others use Khameleon as an extension of their corporate systems from Oracle, SAP, and other ERP vendors by integrating Khameleon results.

To learn more about Khameleon's Oracle-based project accounting software and other project-centric software solutions, talk to one of our project experts today at 800-655-6598.