Mundus Prime, a vessel management and chartering company, has embarked on a transformative journey with Planyard, revolutionizing its project management, cost control, and financial processes. Vibor, a key member of Mundus Prime, shares their experience and insights into why Planyard was the ideal solution for their needs.
Why Mundus Prime Needed a New System
The complexity of project management and cost control can be overwhelming in vessel management and chartering. Mundus Prime sought a solution to grant them instant access to project statistics and cost control information. This included real-time tracking of outstanding payments, upcoming costs, and project performance. Their previous systems lacked transparency and were cumbersome to administer.
”With Planyard as our foundation, we are confident in our ability to expand and manage our projects with precision and transparency.”
Why Choose Plaanyard
Mundus Prime selected Planyard for several compelling reasons:
- Real-time Financial Tracking: Planyard offers real-time financial tracking, providing up-to-date insights, a game-changer compared to their previous systems.
- User-Friendly Interface: Planyard’s user-friendly interface ensured accessibility for their entire team, empowering everyone to use it effectively.
- Seamless Integration: Planyard seamlessly integrated into their workflows, addressing the need for immediate access to project statistics and cost control data.
System Usage and Controls Implementation
Mundus Prime recognized that adopting an online cloud-based system wasn’t just about project management but about implementing robust controls. Planyard became their entry point for all financial decisions, enabling them to verify, allocate, and approve costs efficiently. Planyard also seamlessly integrated with their accounting software, acting as the first line of defense against fraud and accounting errors.
Future Growth and Reporting
As Mundus Prime plans for significant expansion, they now understand the importance of establishing processes, systems, and controls. Planyard is the foundation for these efforts, offering tiered approvals and efficient project and financial reporting. It provides quick and accessible information for decision-making, a critical asset as they continue to grow.
The choice of Planyard was driven by its customizable work breakdown structure (WBS), accommodating its diverse projects. Planyard’s flexibility stood out during their evaluation, meeting the unique needs of their projects. Features like cash flow management and multi-currency support were essential for their international operations. Planyard’s commitment to flexibility and continuous improvement aligns with Mundus Prime’s ambitions for growth and adaptability in the industry.
In essence, Planyard met Mundus Prime’s immediate needs for transparency, control, and accessibility while providing a solid foundation for future expansion and customization.
What is Planyard?
Planyard is a versatile cost control system for project managers and company directors. It offers project managers the tools to manage projects efficiently while allowing company directors to understand project performance without diving into intricate details. Planyard’s adaptability and flexibility cater to the specific needs of diverse projects, with a commitment to meeting evolving requirements through user feedback.
Getting Started and Testing Planyard
Getting started with Planyard requires some initial effort to understand its principles and nuances. Testing Planyard with sample projects and understanding its integration with accounting software is crucial. Familiarizing yourself with Planyard’s fundamental concepts through their videos is highly recommended. Dedicate time to review all the videos thoroughly, as it will significantly ease the transition.
Onboarding the Team
Onboarding team members onto Planyard can vary depending on their computer literacy and background. Supporting and guiding during the transition is essential to ensure a smooth and efficient onboarding process. Envision how existing projects can fit within Planyard to facilitate understanding.
From an accountant’s perspective, Planyard has streamlined financial management processes by integrating budget management, cost control, and accounting. It simplifies tasks such as managing invoices and expenses, eliminating manual data entry, and ensuring compliance.
CEO’s Additional Insights
The integration aspect of Planyard is crucial, connecting previously separate systems and improving financial clarity and efficiency. It enables effortless tracking of various project aspects and streamlines communication between project managers and accountants.
Mundus Prime’s success story with Planyard highlights how the right software solution can transform an organization’s operations, making them more efficient, transparent, and adaptable for future growth.