Progressus Allocator Module
This is a comprehensive guide to the Allocator Module in Progressus. This powerful software solution is designed to simplify the often complicated task of project cost allocations, enabling your business to run more efficiently and effectively. In the following paragraphs, we’ll provide an overview of the Allocator Module, discussing its purpose, key features, benefits, and real-world applications.
Overview and Purpose
The Progressus Allocator Module is a cutting-edge tool engineered to automate and simplify the process of allocating project costs and revenues across different dimensions of your business operations. It provides companies with the ability to distribute direct and indirect costs, overhead, and revenue among projects, tasks, resources, and departments, offering a more accurate representation of project profitability.
The Allocator Module is part of the broader Progressus suite, which is designed to cater to the complex requirements of project-centric organizations. Its purpose is to enhance the efficiency and accuracy of financial reporting, assist in cost control, and ensure compliance with accounting standards and principles.
Key Features
The Allocator Module is feature-rich and offers flexibility to cater to diverse business needs. Here are some of its prominent features:
- Flexible Allocation Methods: Configure your own allocation methods based on cost, billing, and direct usage. The system allows you to select allocation methods by project, task, or cost type.
- Rate Tables: Define and maintain rate tables at various levels to ensure accurate allocations. Overhead, General & Administrative (G&A), and fringe rates can be defined and managed effectively.
- Advanced Processing: Run the allocation processor in preliminary mode to review and validate results before posting. You can filter results, identify errors, and tie records back to entries in the project ledger.
- Error Logs: Review allocation logs for errors and skipped lines, helping you pinpoint issues and fix them before finalizing.
- Transaction Validation: Validate that the correct rates were used during the calculation by examining the source data of each transaction.
Benefits
The Progressus Allocator Module brings multiple benefits to businesses. These include:
- Enhanced Efficiency: With automated calculations and allocations, your finance team can devote their time to strategic decision-making rather than manual number crunching.
- Improved Accuracy: The system ensures precise calculations and allocations, reducing the risk of human error.
- Better Financial Control: By allocating costs and revenues accurately, the system provides a clear view of project profitability, aiding in better financial control and decision-making.
- Greater Compliance: Adherence to accounting standards is ensured, reducing the risk of non-compliance penalties.
Use Case
Consider a business with multiple ongoing projects, each with numerous tasks, costs, and revenue streams. Tracking and allocating these can be a mammoth task. With the Progressus Allocator Module, the business can automate the allocation process, defining the allocation methods and rates once, and letting the system handle the rest. This results in timely, accurate, and compliant reporting, leading to more informed decision-making and enhanced profitability.
We’ve created a seven-part video series to illustrate the use of the Allocator Module in greater depth. If you’re interested in seeing the system in action and understanding how it can benefit your business, we recommend watching these videos.
Video 1: Introduction to Progressus Allocator Module
This video provides a comprehensive overview of the Allocator Module. It introduces users to the software, its purpose, the benefits it offers to businesses, and explains how it fits into the broader Progressus software suite.
Video 2: Setting up Allocator Method and Rate Tables
This video focuses on the initial setup of the Allocator Module, including the creation of allocation methods and setting up rate tables. It provides a step-by-step guide on how to customize the system according to your business’s unique needs.
Video 3: Running the Allocation Processor for the First Time
This video offers a walkthrough of running the allocation processor for the first time. It demonstrates the process, discusses potential errors and how to troubleshoot them, and reviews the initial allocation results.
Video 4: Evaluating and Validating Allocation Results
This tutorial dives into how to evaluate and validate the results from the Allocator Module. It provides guidance on how to review the calculated allocations, make necessary adjustments, and validate the accuracy of the figures.
Video 5: Adjusting and Re-running Allocations
This video focuses on making adjustments and re-running allocations. It explains how to edit allocation methods and rate tables, and how to rerun the allocation processor to generate updated results.
Video 6: Running the Allocation Processor in Preliminary Mode
This video covers how to run the allocation processor in preliminary mode. It allows users to view and review results before finalizing them, providing the opportunity to make any necessary changes before posting.
Video 7: Evaluating Rates on Transactions
The final video in the series explains how to validate that the correct rates were used during the calculation process. It delves into how to review source data for each transaction and ensure that the correct rate has been applied.
Final Thoughts
The Progressus Allocator Module offers a smart, seamless, and sophisticated solution for handling project cost allocations. We are confident that it will transform your business operations, delivering improved efficiency, accuracy, and financial control. For further details or to schedule a demo, please get in touch with our team.