SAP Project System Solutions with Noveco
What is Noveco ?
Noveco is a family of seamlessly integrated software components designed to simplify standard SAP Project System (SAP PS) and enhance it with missing functionality such as cost and revenue estimating, cost forecasting, variation management and reporting with graphical representation of project KPIs directly in SAP.
Noveco is a simple alternative to a complex SAP CPM (SAP Commercial Project Management).
Noveco solutions enhance SAP Project System in the following essential areas:
- Enable to create Estimates inside SAP PS with the ability to generate detailed cost plan on a project by drag & drop. This eliminates manual cost plan on a project WBS or/and Network Activity
- Provides a single screen with composite view of project KPIs, exceptions, budgets, cost forecast, complete project history review, variations and drill down reporting
- Enables monthly financial replanning (cost forecasting) of cost and work to complete (CTC) and estimated costs at completion (EAC) with automatic recalculation and manual adjustment
- Integrates project variations management into project lifecycle in complete integration with project revenue, forecasts and budget planning
- Risk Analysis: simulate your project Budget and Forecast by including Threats and Opportunities created for the project
- Creates environment for projects manager to review portfolio of projects with graphical presentation of portfolio KPIs, build-in reporting and drill down capabilities
Noveco solutions fully and seamlessly integrate with your existing SAP modules, in particular PS, FI-CO, MM, PM/CS, PP and SD.
What does Noveco do?
If you are an SAP PS (Project System) user or plan to be one, the Noveco sophisticated solutions will:
- Help you to quickly create complex estimates right inside SAP PS, so you can respond on customer tenders quickly and efficiently.
- Create Cost Plan on your project from approved estimates by simply drag & drop of estimate items to project WBS or / and Network Activities.
- At any time during project execution review and update your projects using Noveco Project Manager Workbench, which provides a real-time integrated environment for analysis and management of your project Key Performance Indicators, such as Current Budget, Estimated Cost at Completion, Original Estimates, Cost To Complete, Actual Costs, Commitments, Progress, Variations, Risks etc.
- Automatically recalculate project Cost To Complete with carrying forward non-spend values into the future.
- Integrate project Variations into your project cost forecasting, revenue and budget reporting
- Perform drill down reports to the source documents: actual costs, purchase orders, goods receipts, service entry, confirmations etc.
- Track the entire project history: budget changes, forecast changes, variations to costs and revenues.
- Provide comprehensive reporting with overviews of project budgets, estimates, forecasts, revenues, final forecast cost, cost to complete, commitments, cost variations and actuals etc. all from one single integrated platform – SAP PS.
- Simplify Project System making it easy and intuitive to use
- Eliminate the need in the following complex and expensive tools: Business Warehouse, Business Intelligence, Business Objects, Process Integration, data exchange interfaces, third-party non-SAP planning tools
- Stop using excel sheets to calculate project forecasts
- Make your SAP PS a single source of truth for all your project reporting.
How does Noveco work?
Noveco software enable management of project estimatesand cost forecasts directly in SAP PS. Noveco Estimates will eliminate the need for entering cost plan manually, since you’d be able to generate detailed plan on a project from Estimate automatically. Cost Forecasts are maintained by Noveco Project Manager Workbench. It uses its own methods to recalculate remaining costs from actual costs and purchasing commitments etc. After recalculation is complete users can change cost to complete manually. Manual changes affect the entire project structure: estimated at completion (EAC), budget deficit, margins and exceptions are immediately recalculated. Costs and work to complete are distributed and saved directly in SAP.
- Noveco add-on a “drop-in” solution that has been built directly inside SAP system. It takes only 30 minutes to install.
- It uses powerful and integrated Project Information System as the platform. Its reach business content is the basis for Noveco solutions.
- Noveco does not extract data from PS Information System, it simply uses it by reading data directly from it and writing data directly back to the PS Info System.
- There are no interfaces, no middle-ware, no BW or BI needed for Noveco software to work.
- Noveco is not a stand-alone application and it is natively real-time by design. There is no data extraction from SAP, no data transfer back into SAP, the information flows seamlessly.
- There is no Object Links, no Remote Function Calls, no BAPIs needed for Noveco to function and to provide you with required information instantly.
- 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. All you need is to choose those that are suitable for your business and then follow simple rules to plan and monitor your costs and forecasts
- Noveco comes with pre-configured reports. It takes little effort to fine tune them for your requirements
- Noveco is a mature and robust product as it is now being used by various businesses from different industries around the world
- When implementing SAP PS with Noveco you will notice that your Project System implementation becomes very focused and structured; this is because brings methodology together with pre-configured content.
Does it work for S4 HANA?
Yes, it does. Noveco software has been adopted to S4 HANA and has been certified by SAP to operate within S4 HANA environment.
What does it look like?
Project Manager Workbench
Looks like a report, but is highly interactive and functional:
Project Manager Portal
With graphic representation of your Project Portfolio KPIs:
How does it integrate within SAP ECC or S4 HANA?
Noveco applications are integral part of your SAP Project System and PPM:
What is the system architecture?
It is incredibly simple. The information used by Noveco resides directly inside SAP ECC or S4 HANA. There is no middle-ware required, no interfaces, no BW/BI system, no need for BO, no need for BW-PI or any other “interfacing” tools.
Project Manager Workbench – New user experience in SAP PS
- A new “non-transactional” user experience in SAP Project System
- Replaces several steps/transactions by one screen. Project Manager workbench represents a central place, a single screen to review your project, update cost forecast, run drill-down reports etc.
- Intuitive and Easy navigation. Quick identification of “problem” areas via exception traffic lights
- Provides one central place to review KPIs, update forecasts, execute analytical and drill down reports
- Context drill-down reports on Purchase Orders, Actual Costs, Confirmations, Open Commitments, Variations
- Graphical presentation of project KPIs
- No interfaces, no modifications, no custom tables, instant and seamless integration with SAP ECC (e.g. Project Builder, PS Info System, MM, PM, FI/CO etc.)
Project Manager Workbench: Functionality
- Auto recalculation of project Cost To Complete from actual costs and commitments with automatic re-distribution of cost to complete over remaining duration
- Use any cost plan (Easy Cost Planning, network costing, unit costing) to generate initial project cost to complete
- Manually adjust Cost and Work To Complete on network activity or WBS element
- Manual re-distribution of Project Budgets, Cost To Complete, Purchasing Commitments with immediate graphical representation
- Multi-level Cost To Complete management utilizing “planning level” concept for multi-tier project structures allowing integration of work orders (SC/PM and PP) into project cost forecasting
- Period sensitive Cost Forecasting using planning period, designed for month end processes
- Automatic forecasting history recording (w/o need to version copy)
- Instant Integration of cost forecasts with Resource Planning, PS Info System, Project Result Analysis
- Forecast change log
- Integrate project variations with budgets and cost to complete
- ePM does not modify SAP standard core components and does not require any additional interfaces to run