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Job Forecast to WIP

This process covers job forecasting by Operations through to General Ledger work in process (WIP) adjustments by Accounting.
CMiC Approach

  1. Budget is already in the system via CMiC Project Management bid item import process
  2. Percentage complete determined automatically
  3. Over / Under billing automatically calculated
  4. Monthly WIP adjustment automatically calculated and posted
  5. Forecasting report analyzed and generated via a document automatically produced in CMiC and sent  to the appropriate parties for review
  6. Utilizing CMiC’s GC monitor, the forecast is analyzed with drill-down functionality, taking the user all the way to individual transactions
  7. Information transferred into CMiC Business Intelligence for further analysis
Efficiency Improvements

  • Saves time by eliminating the need to update cost report in other systems
  • Reduces the time required to complete WIP process by eliminating the need to gather data from disparate systems to use in profitability and over / under reporting
Risk Mitigation

  • Reduces likelihood of data entry errors and calculation errors with Excel
  • Consolidates disparate silos of information