Street Financials gives its users complete insight into how a project budget is built. Every item as well as complete budget can be viewed based on any cost category such as operational vs. capital, GL code, department, etc. This would include a complete breakdown of labor costs, expenses and other types of expenditures. The budget acts as a set parameter in order to create a forecast. Project managers can clearly identify and inquire about cost items that seem inconsistent and correct issues. Street Financials ensures cost control and project delivery within the assigned budget.
The project forecast is created on project tasks and breakdown structures based on the project planning module. Forecast provides you with task level details along with various types of expenses and expenditures including opex and capex. It also allows you to forecast labor/employee cost of each task and sub task so that financial planning and decisions regarding resource utilization can be made well in time.
Real-Time Financial Tracking
Project expenditure is tracked in real time, based on actual work reported by using timesheets in My Street module, and expenses incurred to carry out those tasks. Project managers can keep track of material cost and benefits and also segregate financials based on various elements and entries. Street financials has a smart time tracking facility from basic attendance to time card tracking based on tasks assigned and eventual submission of time sheets.
This high-tech time tracking functionality comes with pre-configured options to set up limits on resource time entry and approval work flows. Visible for executive leadership, Variance is calculated in real time between actual expenditure versus forecast and also against budget.