In a medium-sized firm where I once worked, senior partners would meet with their bookkeeper to process the incoming pile of invoices that had arrived in the preceding month.
Since this was an architectural firm, these invoices came from the structural, mechanical, electrical, landscaping contractors and sub-consultants. It took hours to figure out what was being billed for, whether the work was complete, and cash-flow considerations.
Like oracles, they consulted the contractual agreements, the project manager, and the subcontractors if the fog persisted.
At some point the partners invested in software development that evolved into StageProject™. StageProject™ is a cross-departmental tool providing contractual clarity to project managers, contract officers, and leadership.
- is a contract repository for project managers (and contract managers),
- aligns project phases with agreed $ amounts,
- enables project managers to manage all project billing,
- streamlines communication and workflows between project managers, subcontractors, the contracts team, leadership, and the accounting department,
- empowers project managers and builds financial awareness.