Business Planning for Construction (IFS Applications/IFS Cloud)
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The Factsheet on Comprehensive Business Planning for the Construction sector details how this Platned solution can seamlessly integrate crucial planning components into a unified system. The factsheet provides an overview of the features that include:
Integrated modules for cost forecasting, project forecasting, and revenue management.
International business – multi-currency support, local regulatory compliance, and standardised processes across regions.
Business planning and consolidation.
Advanced data handling with IFS Business Reporter.
Operational efficiency.
Scalable for growth.
Download the Comprehensive Business Planning Factsheet to learn more.
Construction companies are project-based. Larger organisations often operate globally, managing and running multiple schemes through different divisions within the group.
Each individual construction project will maintain a cost forecast (cost and revenue) and a cash forecast (cash receipts and pay), providing important insight for both short and long-term business planning. The newly introduced IFS business planning module offers companies powerful capabilities; however, a configuration solution is required to integrate data from the IFS project module.
Platned offers the configuration skills to import this data directly into IFS from existing third-party software solutions. As well as from other IFS modules not integrated with the Business Planning module helping businesses improve the efficiency in the planning process and minimise manual interventions.
Bridging the gap: projects and planning
For example, a major global construction organisation approached us to integrate IFS forecast module data into their global finance projection, the master business plan for the business looking out across the next six years. The configuration project has successfully removed the need export projections to third party software to run calculations.
IFS project forecasting & budgeting (PF&B) and cash planning modules now support project forecasts, whilst business planning & consolidation modules supported by IFS Business Reporter-driven Excel template/s create global forecasts & business plans.
The Platned configuration solution bridges the gap between the IFS construction project module and business planning module. It allows data from the estimated at completion (EAC) Workbench, GL Actuals and periodical capitalization and revenue recognition to generate a modifiable Business Reporter file, before writing final data into the business planning module. The Platned solution can typically be implemented within 2-3 months.
