In fact, you’re already well on your way to adopting new technologies. Various platforms utilized by your different departments might keep the team apart. Integration becomes a force that can bring collaboration back to your remote employees and help you get a better picture of your costs and profitability.
An urgent need for better efficiency
Improved collaboration has been a long-discussed topic specifically for the field services sector. The oil and gas industry had to lay off over 100,000 employees in 2020 alone. Finding ways to stop the losses and discover new efficiencies is paramount. At the same time, more government support is available than ever for recovery projects. The need for thorough reporting on reports has increased drastically.
With the help of real-time discussion boards, tagging and secure data cloud storage, Matidor’s platform provides seamless integration with your financial tools, available in a short time frame, so none of your departments need to be stressed with having to adjust to new technologies. Adoption of new project collaboration software is easier than ever and it can boost your communication effectiveness alone by more than 30%.
In a world that is moving away from physical office spaces, the tools that bring simplicity, data visualization and a sense of unity for your teams have become essential. One of such mediums is project collaboration software.
What is project collaboration software?
What is project collaboration software, and how beneficial it can be for your business?
A remote collaboration solution such as a project management platform is an online space for all of a company’s teams to exchange ideas, files, assets, schedule online meetings, assign tasks and many more activities that could be carried out in a physical office reality.
Matidor’s project collaboration software does all of that, with a twist — you can also display all of your real-world projects, including geospatial data and other relevant data laters, on a map.
A recent Deloitte study shows that managers and employees are spending 50% more time in collaborative activities. With the pandemic and work restrictions, all types of remote work became increasingly dependent on map visualization. Some employees have faced difficulty adopting sophisticated GIS technologies and applications while struggling with other effects of remote work. It’s important to have a user-friendly collaboration solution that fits all teams.
Online project management is the future, especially in the field services industry.
Matidor has been filling the gap between location visualization and all facets of project management in field services. Being an intuitive platform provides the best project management tools available within a short time of deployment for all departments and stakeholders.
With Matidor, field services operators and consultants can work on 500% more projects. Apart from cost-saving technology itself, such a substantial increase in operations effectiveness was also achieved thanks to systems integrations available on the platform. Another strength of the platform is its ability to integrate with other tools. The highest priority among these are your financial tools.
3 Reasons Why Integration is Important
Digital transformation within your organization and integration of your existing tools is not only possible with Matidor but is vital to gaining a better understanding of your efficiency. There are three primary reasons for that:
1 . The power of technology is its ability to automate processes that were previously challenging and difficult
Many tasks and financial information has been traditionally stored in a paper spreadsheet format. Historically, manual data entry and re-entry, data copy, and transferring have brought various associated clerical errors, which would bring unnecessary admin work and extra staffing.
The involvement of multiple parties in such a process could raise security problems — with compromised databases and errors making their way onto paper-based documents.
Such costly inconveniences can be avoided with the help of process automation and digitization. Precisely what your project collaboration should be aiming for — minimizing the risks and costs of dealing with all data types.
2 . Connecting your project work to your financials allows you to track costs and profitability
Working in the field, hundreds or even a thousand miles away from the office, usually makes a consultant’s job quite challenging in terms of swift reporting. Estimates that you’re working on could be highly time-sensitive. Due to outdated systems, delivering audit or assessment results can take a matter of days when it should be closer to instantaneous.
With digital tools, consultants can provide their project team with trackable real-time reporting. Many more customized software platforms were created for more specific visual ways of reporting. What makes Matidor’s integrated solutions stand out is the fact that those
3 . You can offer your stakeholder vastly better visibility into your assets and costs
Adjusting the visibility of the information within your organization’s reporting system is a fantastic feature that can not be accessible with paper-based documents. Communicating exactly needed information to a specific group of stakeholders ensures better compliance, high-level reporting and audit capabilities.
How Matidor Works with Financial Software and Accounting Tools
Several steps must be completed to connect an already existing financial system into a project management tool, such as Matidor. We guarantee safe data transfers, meaning no costly risks are involved.
There are two types of application authentication in use while connecting two separate platforms: API key and OAuth2. It would depend on the financial platform which type of connection authentication will be needed to integrate accounting tools into Matidor. Most applications use an API key to ensure that safe and complete information exchange is maintained without the participation of a third-party login provider (as in the OAuth2 case).
Examples of Financial Tools that You Can Use with Matidor
There are plenty of ways to integrate major financial software that you might already be using, into Matidor. Our expertise is not limited by the list below, but here are several examples of how simpler accounting systems, as well as more sophisticated enterprise ERP systems like SAP and Microsoft Dynamics, can be a part of your daily project management process:
QuickBooks is one of the most popular small business accounting software available. It helps with daily tasks such as income management, expenses tracking, reports generation and accessing tax information.
Simultaneously, QuickBooks can be used for invoicing vendors, paying bills, and keeping track of a company’s overall financial health. Its benefits include an extensive product line, allowing users to find a solution that fits anyone – from a contractor to a well-established company.
Like many options of QuickBooks, Deltek, a cloud-based platform, provides a variety of solutions for professionals working on a project basis in accounting, resource management, time and expense management, and business development.
It also supports such essential features as staff scheduling, cost estimation, reporting, analysis and risk management control.
Connecting technologies is relatively straightforward
That said, introducing your whole team to a whole new level of operations, combining the perks of the financial side of the project being as available as the rest or the operational details is not an impossible task. Benefit from integrating your existing ERP or accounting tools to the fullest by making a choice to increase your efficiency and maximize ROI.
All it takes, after a successful link between the apps, only minor adjustments can be required by the third-party integration partner (in our case – financial tools), but each step before, during, and past established connection is always a very transparent process for clients. The whole configuration is completed by Matidor with total confidentiality. Within the account of the project management platform, it is possible to set up the financial data flow, user role restrictions for the best convenience of both financial and management teams.
The difficulty is to determine what makes sense for integration based on your unique business process: For example, do you want the detailed expenses to be synchronized, or just a nightly snapshot of the cost spending? Do you need the data to flow one-way, or bi-directional?
No matter the answer – Matidor is here to help you figure out the best integration process so you can maximize your ROI
Learn More About Matidor’s Map-Based Project Collaboration Solution
Want to learn more about how Matidor can improve the efficiency of your project collaboration using maps, as well as how to connect that back to financial data?
Book a demo and we will show you.