Overview for SAP Project System (PS)

What is Noveco?

Noveco is a family of seamlessly integrated software components designed to complement and enhance SAP Project System (PS). It adds new functionality into SAP PS including cost and revenue estimating, project dates scheduling, cost forecasting, progress analysis, variation management, risk analysis, resource & capacity planning, cash flow forecasting, calculate accruals, powerful reporting with graphical representation of project KPIs and drill down capabilities.

Noveco is a simple alternative to complex SAP Commercial Project Management (CPM). It’s built to enhance and simplify SAP Project System, by creating a single integrated platform for end-to-end project management directly in SAP without the need for Excel spreadsheets or additional third-party tools.

Integration

Noveco is not a stand-alone application that you need to integrate to SAP PS. It does not have its own database, therefore once installed, Noveco becomes part of your SAP system.

It is natively real-time, since it requires no interfaces, no middleware, no BW/BI, no Remote Function Calls etc.

Noveco will enhance your Project System to enable integrated project lifecycle management directly within your SAP system, excel sheet free!

Why Noveco? What Does it do?

Noveco is unique solution built directly inside SAP ECC or S/4 HANA. It simplifies PS and complements it with a set of powerful and user-friendly functionality.

Enhancing SAP PS with Noveco will enable you to:

Quickly and easily create complex estimates inside SAP PS, helping cut response time on customer tenders
Create cost plans from approved estimates by dragging & dropping estimate items to project WBS or Network Activities
Compare Estimates with Project Forecasts and Actual Costs, thus analysing the accuracy of the estimates
Schedule your project dates using intuitive and user-friendly Fiori Gantt Chart
Review project KPIs, update forecasts at any time using the Noveco Project Manager Workbench, which provides a real-time integrated environment for analysis and management of your projects
Automatically recalculate cost to complete from actual costs and commitments with automatic re-distribution of non-spend values over the duration of the project
Integrate project variations into your project cost forecasting, revenue and budget reporting
Earned Value Analysis that is built-into Project Manager Workbench
Carry out Risk Analysis
Cash Flow Forecast and Reporting
Perform drill-down reports to source documents including actual costs, purchase orders, goods receipts, service entry, confirmations and more
Track the entire project history including budget changes, forecast changes, variations to costs and revenues and more
Access comprehensive reporting with overviews of project budgets, estimates, forecasts, revenues, final forecast cost, cost to complete, commitments, cost variations and actuals from SAP PS
Drill-down reporting enables you to interrogate the data behind the screen: Goods and Invoice Receipts, Time Sheets, Purchase Orders, Order Confirmations etc.
Eliminate the need for Excel spreadsheets and expensive tools like Business Warehouse, Business Objects, exchange interfaces to non-SAP third-party planning tools
With Noveco, you can make SAP PS a single source of truth for all your project reporting and analytics.

Benefits and Business Value

Noveco unleashes the true power of an integrated SAP system. It makes Project System incredibly simple yet powerful, improves data accuracy and transparency, standardises project planning and forecasting processes, reduces costs of month end processes and consolidated reporting

With Noveco you can:

Replace spreadsheets and other third-party tools with centralised integrated SAP system
Have SAP as a single source of project related information for reporting and analytics
Standardise project management processes
Reduce the number of interdependent systems and interfaces
Reduce costs of maintenance and support of additional systems and interfaces
Improve quality, transparency and accuracy of reports
Connect the upstream activities (e.g. estimating, planning, procurement, collecting actual costs ) and downstream activities (e.g. monitoring, forecasting, resource allocation, analytical reports) within integrated project management lifecycle
Reduce the amount of effort and time required to produce project operational and analytical reports
Decrease data errors
Improve process efficiency

How Does Noveco Work?

Noveco’s system architecture is incredibly simple: it is completely “dissolved” within your SAP system.

The information used by Noveco resides directly inside SAP ECC or S4 HANA. As a drop-in solution Noveco works by reading data directly from SAP PS and writing data directly back into it. In this way, the system enables project management and reporting directly in SAP PS.

Other benefits include:

Fast installation: Noveco takes only 30 minutes to install into your SAP system
Quick Implementation
It uses the powerful and integrated SAP PS Infosystem as the platform
Noveco is natively real-time: It reads data directly from the SAP PS Infosystem and writes data back into it. It does not have its own database to store the data.
Noveco requires no interfaces and no middle-ware.
It does not use BW or BI, it works with SAP core database tables to read and write back
Noveco supports various project structures: WBS only, WBS and network activities, WBS and PM/PP orders, WBS and network activities and PM/PP orders etc. Simply choose the structures that suit your business and then follow simple rules to plan and monitor your costs and forecasts
Noveco comes with pre-configured reporting functionality that can be quickly fine-tuned to your requirements
When implementing SAP PS with Noveco you will notice that your Project System implementation becomes very focused and structured; this is because it brings best practice methodology together with pre-configured content
Noveco is a proven, mature and robust product that is being used by major businesses in different industries around the world

Does it work for S4 HANA?

Yes, it does. Noveco software has been adapted to S4 HANA and has been certified by SAP to operate within S4 HANA environment.

How does it integrate with SAP ECC or S4 HANA

Once installed, Noveco becomes an integral part of SAP PS and PPM, with Noveco applications working in conjunction with SAP functionality.

Security

Since Noveco is built directly into your SAP system it benefits from SAP’s industry-leading security protocols. SAP S4 HANA complies with general data privacy acts and industry-specific data protection legislation in different countries. It interfaces with a VSI 2.0-compliant virus scanner during various processing stages and relies on sophisticated user management and authentication mechanisms delivered with the SAP NetWeaver technology platform

Cloud Compatible

Explore the benefits of cloud computing for your business. Run lean and agile business processes. Benefit from the latest innovations and updates. Step ahead of your competitors and build an industry-leading cloud-first strategy with SAP and Noveco.