A clear-for-all-view on research budgeting essentials
Not curiosity, but complexity kills the cat when it comes to financially managing research projects. Every stage of scientific research has its own set of opportunities, finance challenges and stakeholders. Flexso successfully introduced a budget app that runs on SAP’s Portfolio and Project Management (PPM).
The challenge of collecting data in research management
Collecting and consolidating financial data is a challenge. Not only do project managers and finance departments have to collect, book and consolidate income and expenses into one report, research budgeting also requires regular alignment with all involved to be sure that all entries are appropriately booked.
A clear view on the essentials of research budgeting
Flexso’s budget app gives you a clear-for-all-view on the essentials of research budgeting: what are the losses and benefits? Are staff expenses on track? Timesheet entry toggles seamlessly between time-based or amount-based mode.
The result? As everybody is using the same tool for data entry and monitoring results, budgets stay always under control on every level.
With ease of use, we really mean easy
The app is appealing and user friendly, using SAP Fiori for the look and feel. A financial wizard within the application guides users for setting up a budget for a new project. The app brings uniformity across all departments. Do you want to customize? The wizard is easily tailored to meet specific requirements for your research project management.
Simplified financial data input and tailor-made output
The budget app not only provides you with simplified financial data input, but it also enables you as well to have tailor-made output without the hassle of building specific reports over and over again starting from scratch. As Ann Koolen, Flexso SAP Technical consultant and one of the project leaders of the budget app tells: ‘Basically, the app enables you to produce reports in different formats, based on the same set of data. Whether you need a snapshot at a certain moment of the project, or the latest figures to produce a report for your stakeholders.’
To SAP or not SAP?
The Research budget app works on SAP PPM and can retrieve data from both SAP S/4HANA or ECC. You do not need an SAP foundation, as we have the SAP business technology platform and enhancement points available to make the connection between your data from a non-SAP application and our solution.
The budget app is one of the applications especially developed by Flexso for research project management. Our collection of apps like the justification app, workspace app, prognosis app or our Tinder for Research app offer you an end-to-end solution for managing your research projects within your organisation.
Do you want to get a clear-for-all-view on the essentials of research budgeting? Contact us for any question, demos or use cases.
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