StageProject streamlines contract management and billing for multi-stage, multi-party projects i.e. those with sub-consultants, subcontractors, and/or clients.
It's a hands-on tool for project managers giving them the whole financial picture, while guiding them through sub-consultant invoice approval, and client billing workflows. However, It's also cross-departmental and role-based providing transparency, clarity, and oversight for leadership, accounting, the contracts team, and sub-consultants.
For contract administrators/managers/officers StageProject serves as a contract repository and a place to break down the contracts for everyone else.
The key to setting up new projects is breaking down agreements into project stages and $ amounts as shown in the graphic below.
StageProject makes it easier to approve subcontractor invoices (even if they will be passed to the client):
- Ideally, sub-consultants and subcontractors would submit their invoices for payment through StageProject; it's a good idea to make this a requirement because internally it saves a lot of time.
- Sub-consultant invoices would then be aligned with project stages and shown in context.
- StageProject enforces contractual compliance and robust change procedures (Design Change Requests).
- Pre-approved invoices simplify the work of the accounting team as well.
StageProject supports client billing by:
- reminding project managers when it's time to bill the client,
- providing financial data (including calculations based on staff hours),
- helping to generate templated monthly reports and
- reducing missed billing opportunities (through contractual rigour and change management).
Financial snapshots provide project managers, contract administrators, leadership, and others at-a-glance, near real-time insight into each project's financial performance.
StageProject is a cross-departmental platform for sharing mission-critical project data across the whole team:
- Project managers are guided by StageProject's contractual framework providing confidence and predictability.
- Sub-consultants and subcontractors get to align their invoices to agreed project stages and amounts, reducing followups and friction with your team.
- Project managers approve those incoming invoices for the accounting team, so they no longer have to query the PM.
- Project managers assemble client bills and monthly reports (only they have all the information). Leadership gets oversight.
- Time-entry* by project staff contributes to the 360° financial metrics.
- Reminders, notifications, and feedback keep everyone informed.
If your organization executes projects with multiple stages and outsourced work, StageProject will increase your organization's project handling capacity. It will accomplish that by:
- providing contractual intelligence and clarity to everyone involved,
- systematizing the routine (but time-consuming) tasks of contract management and billing,
- reducing avoidable errors and missed billing opportunities, and
- redefining and decentralizing key tasks and roles (to enable scale).