Zilicus Launches Project Cost Management Solution for its Online Project Management Software

Jan. 16, 2013 - PRLog -- Houston, TX, Jan, 16th 2013 – Zilicus Solutions (http://www.zilicus.com), a leading provider of online project management software, announced launch of its latest version - ZilicusPM 6.0. ZilicusPM 6.0 helps project managers to effectively manage project financials with its budget, cost, expense and billing management solution.

“Managing projects has never been easy, because of its schedule, resources or cost constraints. We, at Zilicus certainly understand these challenges. ZilicusPM equips project management professionals to deal with uncertainties involved in delivering projects. The latest version of ZilicusPM offers a robust solution for small and medium enterprises to manage entire lifecycle of projects including budget, cost, expenses and billing” said Dhan, co-founder of Zilicus.

Some of the features introduced in the latest version of ZilicusPM are as follows

Project Budget and Billing Management

A significant number of projects fail because of delay in delivery and in turn leads to cost over-run. ZilicusPM highlights whenever project costs overshoot the budget. Using ZilicusPM, user can set budget in its own currency; indicate billing preference such as ‘Fixed Price’, ‘At actual resource cost’ etc. Dashboard clearly shows real time financial health of an individual project as well as a portfolio of projects.

Project Cost Estimation and Tracking

Uncertainty in project schedule can take a toll on progress and health of projects. Project manager can shield such uncertainty using ZilicusPM by creating detailed work-breakdown-structure & schedule and a realistic estimation of time and cost. Using ZilicusPM, project manager can specify

1.  Project resource cost rate, billing rate in its own currency

2. Cost estimate (fixed, resource and other) at any task and sub-task level

3. Actual cost (fixed, resource and other) at any task and sub-task level

As project progresses, project manager can track and compare types of estimated costs like resource cost, fixed cost and actual cost versus respective type of actual cost. The same comparison is made available at project level with aggregate numbers. ZilicusPM (http://www.zilicus.com) provides a separate view and a report for project manager to track actual versus estimated costs.

Project Expenses Tracking and Approval

Using ZilicusPM, project expenses can be tracked at a task/sub-task level. ZilicusPM offers detailed expenses tracking and management solution so that no expense item is lost or remains untraceable. As team members can submit project expense sheets, ZilicusPM share those for project manager’s approval. Project manager can review and edit expense sheet before he/she approves or reject it.

The expense tracking solution in ZilicusPM lets user specify detailed information pertaining to expenses they have incurred e.g. tasks, date, expense category, amount, billability, reimbursement and expense receipt, etc.

Team member and project managers can view various expense reports. Like project risks, project issues and tasks, ZilicusPM maintains audit log for expense approval history.

Timesheet & Expense Approval

Similar to expense approval mechanism, ZilicusPM (http://www.zilicus.com/tour/) has enhanced timesheet submission and approval mechanism. At organization preference level, one can set whether expense or timesheet should be approved by project manager or not. If selected for “Approval required by project manager”, the timesheet and expense entries will be submitted for respective project managers’ approval.

ZilicusPM 6.0 includes many other features and enhancements, some of these features are

Set preference to receive email when new discussion starts or new comment added to it
Customize expense categories – add new categories or change existing ones

The Way Forward

Trusted by users in more than fifty five countries, ZilicusPM has emerged as the top-most choice for project and program managers for its complete features and incredible performance. Customers have highly appreciated ZilicusPM for simplifying project management processes. It is highly adopted by companies in healthcare, IT, engineering, manufacturing, education,media and marketing industry.

This award winning project management software will be launching ZilicusPM 6.1 in February 2013 thereby addressing pain points experienced by project management professionals in manufacturing, engineering, information technology and with many other industries.

Zilicus Solutions has been strengthening its partnership program by signing up agreement with affiliates, resellers, VARs and marketplaces primarily in US, Latin America, Europe and Australia.

About Zilicus

Zilicus Solutions is a technology company that offers cloud based collaboration software. It offers award winning online project management software ZilicusPM – delivers on the promise of collaborative planning to improve team performance. By actively involving employees with ZilicusPM and realizing gains in productivity, companies can meet strategic & organizational objectives. To sign up for 30-day free trial (https://projects.zilicus.com/Signup.jsp), view product information, or take a product tour please visit Zilicus website.