Capital Project Management Software
Capex Tracking for all your projects
Capex tracking is a central part of the overall capex and opex management process. For this, Capexplan enables you to track your capital and operational expenditures and conduct project management in an efficient matter. This means collecting information on spend (purchase orders, invoices, receptions) for each request.
You can track approved capex requests directly in the software. You can also track them using data from your ERP software.
The tracking process allows you enter into Capexplan software the actual costs related to your expenditures. The objective is to be able to view and better understand how much you have spent per capex request, and to compare those actual expenses to the budgeted amounts.
This will also enable you to forecast and generate reports on where your capital went.
From a project management standpoint, the software can perform capex tracking on four levels of requests: standalone requests, projects, envelopes, and studies. Standalones are simple requests or groups of simple requests. Projects can include numerous standalones and envelopes can include both projects and standalones. Studies are normally opex and are related to professional services.
This enables you to conduct better project management and track your expenditures from a standalone, as well as from a project and envelope point of view. If you have a project that includes a number of different standalone requests, you can rapidly identify on your tracking page which standalones are doing well and which ones need more attention.
Capexplan provides you with all the tools required do perform complete tracking of capital and operational expenditures (capex and opex) at any level of detail you needed. You can conduct capex tracking at the request level. However, you can also do capex tracking at detail levels such as purchase order line or invoice line item. Assets can be tracked individually.
What to track
The first step of the capex tracking process is to determine who will do it. Capexplan enables the request initiator to assign a project management assignee. This user will be responsible to track the expenses once the request is approved. By default, the request initiator is the assignee but any user can be assigned the tracking responsibility, even non approvers. Once you approve the request, you can start tracking it. This means capturing the actual costs of your capital and operational expenditures in the software. To track the approved request, simply enter the vendor invoices which apply to the particular request. You can open the tracking page and manually enter the vendor invoices. You can also automatically import the information from your accounting or ERP system.
Enterprise Resource Planning (ERP) integration
For companies which use Enterprise Resource Planning (ERP) software systems such as SAP, Oracle, Microsoft Dynamics, and others, Capexplan includes interfaces which integrate the data from the ERPs in either batch or real-time and populates the required fields in Capexplan.
This avoids double entry. It also enables you to have access to all your capex tracking, your spend information of your capital and operational requests rapidly. You can then generate reports such as spend per reason, budget vs actual, return on investment reports, as well as thousand of other combinations, either per business unit or group of business units.
