While many of the commercial processes within the construction and engineering sector are standardized, risks remain in contract administration such as late payment to suppliers, poor change control and lack of final account information. Where contract accounting is compiled using spreadsheets or fragmented applications, and site-based contract managers lack remote access to systems, stakeholders have no real-time picture of progress and the risk of projects running over time or budget is increased by inaccurate or delayed information. SAP® for EC&O offers a fully integrated solution that enables you to regulate your cash flow by improving the management of payments from clients and enhancing profit forecast accuracy. Now you can:

  • Forecast cash flow across your entire contract portfolio, allowing capital requirements planning and evaluation of actual cash position versus forecast
  • Generate milestone-based progress billings at the earliest opportunity and benefit from staged payments
  • Provide stakeholders with live project accounting intelligence and reporting that represents a ‘single version of the truth’
  • Perform UK construction and engineering services specific project accounting