Maconomy, a provider of business solutions for professional service companies, has announced Maconomy X, the latest version of its project management software.
The latest release is conceptualised and created for management, engineering and creative consultancies, and will allow these businesses to manage, monitor and bill for the hours worked by consultants on client projects more competently and successfully. As a result, Maconomy X gives them more time to guarantee deadlines are met, increase their focus on quality and improve results.
Maconomy X incorporates Maconomy’s ‘Time – on time’ concept, which enables customers to capture the number of hours spent on various jobs and tasks in real time. This allows companies to invoice based on an accurate calculation of hours spent on a project and to follow up quickly on initial project estimates.
“‘Time is money’ may be a worn-out expression, but when a company’s very existence is based on providing time-based services, efficient tracking is vital to overall profitability. Maconomy X is designed and developed for employees to log their time easily and swiftly. Only when employees register their time correctly can work hours be invoiced precisely,” Marcus Leathwood, business development director, Maconomy UK said.
The software also incorporates a pricing module that allows consultancies to create realistic estimates in the sales phase and convert this to the baseline budget once the contract has been approved. Maconomy X offers improved project management capabilities, a decentralised planning and forecasting module and integrated business intelligence reporting technology from Business Objects, while retaining the intuitive ease of use that has characterized all Maconomy products.
Marcus Leathwood said, “There has been a discernable trend in the wider ERP market for solutions that gather and analyse data about day-to-day business, making information available for strategic management. As a result these solutions are gaining market share in the business intelligence (BI) sector. Maconomy X falls firmly within this trend. It meets many of the same demands as traditional BI products, but in a far simpler way, as it is much faster and easier to implement than other solutions in this field – a key factor in any IT selection.”
“The current speed of international globalization means rapid changes for many of our clients’ businesses. And at the same time, they are aware that giving the go-ahead to a two or three years implementation process means running the risk of getting a system that doesn’t meet future demands,” added Leathwood. “A time-consuming implementation often means that the company’s IT investment loses value. A successful solution must generate operational benefits as soon as possible.”
Maconomy said the release of Maconomy X is part of its growth strategy that is based on its commitment to developing industry-specific solutions.
“Development in the overall ERP market is increasingly characterized by growing demands for industry expertise,” said Leathwood. “Solutions need to focus sharply on the requirements of a specific industry and its users. Maconomy has always specialized in the professional services sector and brings 17 years of targeted research and development expertise to the development of its business solutions, as well as extensive customer feedback.”