Financial Control
The Cora Financial Control capability provides comprehensive visibility and control over your organization’s budgetary and financial performance, helping you optimize project outcomes.
Capabilities
Budget Control
Maintain rigorous oversight of budgets at every organizational level. Automate budget checks, facilitate detailed spending approvals and provide early warnings about potential overruns. Deliver real-time visibility
Financial Forecasting
Accurately forecast financial outcomes using continuously updated live project data. Quickly identify financial risks, proactively address potential issues, and make informed decisions to enhance forecasting accuracy and overall financial predictability across projects and portfolios.
Actuals and Commitments
Monitor and report on actual expenditures and financial commitments in real-time integrated from your ERP, providing immediate insight into spending trends. Enhance accountability, accurately track financial obligations, and improve overall financial transparency, enabling proactive budget and resource management.
EAC and ETC
Precisely manage estimates at completion (EAC) and estimates to complete (ETC) with real-time financial data integration. Continuously update these forecasts, providing clear visibility into remaining budgets and enabling informed decision-making to ensure projects remain financially viable and strategically aligned.
Cost Estimates
Generate accurate initial cost estimates during the project initiation phase. Leverage detailed breakdowns of cost categories, historical data, and ERP integrations to enhance accuracy, optimize budget planning, and ensure financial governance through evolving basis of estimates (BoE).
Unified Financials
Integrate financial data from multiple sources into a unified dashboard. Deliver comprehensive financial insights to stakeholders, supporting informed decision-making, strategic alignment, and enhanced visibility into financial performance across projects, programs, and portfolios through your CBS/WBS.
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Gain visibility and control across your project with Cora’s financial capabilities.
Additional Capabilities
Financial Integration
Seamlessly integrate project financial data with your organization’s ERP(s) and financial systems. Automate data synchronization including purchase orders and invoices to reduce manual entry errors, and ensure financial data consistency and accuracy across platforms, facilitating efficient project controls and reporting.
Billing Milestones
Efficiently manage projected revenue by aligning payments to key project billing milestones. Automate notifications for stakeholders when milestones are achieved, optimizing cash flow management, ensuring timely invoicing, and maintain consistent visibility into projected revenue.
Variance Reporting
Rapidly detect and analyze budget and forecast variances across all your financial periods. Provide early warnings for proactive financial management, allowing quick intervention to address discrepancies, minimize financial risks, and ensure projects consistently remain within budget and meet strategic financial targets.
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Cora Financial Control FAQs
How does Cora help against cost overruns on projects?
Cora mitigates cost overruns by providing automated budget tracking and real-time variance reporting. This empowers project managers with early warning alerts for potential financial deviations, enabling intervention and proactive financial management. Cora’s financial tools ensure projects stay within budget, improve project profitability, and enhance financial forecasting accuracy.
What are the benefits of Cora's financial control capabilities?
Cora provides financial control, ensuring projects remain within budget and achieve strategic objectives. Real-time visibility into financial performance enables data-driven decision-making, minimizing risks and maximizing profitability. Accurate forecasting and streamlined budget management enhance financial predictability, while seamless integration with existing systems ensures data consistency and efficiency.
What are the key financial control features of Cora's project management software?
Cora’s project management software offers powerful financial control features: Leverage the Cost Book Allocation tool for streamlined capital expenditure management and the Bill of Materials (BOM) for comprehensive manufacturing cost monitoring.
What value does Cora’s financial forecasting give?
To effectively navigate heightened volatility and uncertainty, businesses need robust financial control. Cora delivers this by consolidating project data into a unified platform, offering real-time insights into financial performance, change orders, and risk. This centralized view empowers proactive resource allocation and strategic decision-making, enabling companies to maintain operational resilience and adaptability, even in unpredictable environments.