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January 21, 2002
1. PSA industry analysts: OpenAir highlighted in Summit Strategies
report.
OpenAir was showcased in the Summit Strategies December 2001 report, "Just
Say No:
Customers Ditch Traditional Applications for Web Services", as an example of a
web-native
software solution that is beating out traditional client/server software
solutions.
For a summary of the report click here.
2. Customer success story: diCarta's team streamlines operations using
OpenAir.
The professional services team of diCarta, a market leader in enterprise
contract
management solutions, was looking for a more efficient way to track and bill
time,
improve collaboration on projects, and analyze project costs. Prior to using
OpenAir
all of these functions were performed by a manual, paper-based system diCarta
described
as "slow and painful." After implementing OpenAir, the billable time captured
by diCarta
has increased by a full 10% and invoicing has accelerated by a week. Plus, the
professional service teams are working together more effectively to serve
customers and
financial managers have reduced dramatically the time to close the books at
the end of
a month or quarter. For a full case study click here.
3. IBM and OpenAir: joint tradeshow booth at LinuxWorld.
OpenAir will join IBM in its partner booth (#1323) at the LinuxWorld
Conference and
Expo at the Javitz Center in NYC from January 29 through February 1. The booth
showcases
select IBM partners who have built successful businesses around software
applications
that use the Linux operating system.
4. Projects: new revenue/cost recognition and fixed fee billing
functionality.
OpenAir now offers more sophisticated project accounting functionality:
revenue
recognition, cost recognition, and more comprehensive fixed fee billing. New
features
include:
Revenue and cost recognition: managers can now configure when revenue and cost
should be recognized on a project: by milestone, by date, by percent, or as
billed.
Revenue recognition parameters can also be configured for expenses to include
markups
and markdowns. Managers can now also review project-specific reports showing
recognized
revenue, billed revenue, work in progress and unearned revenue. Revenue and
cost
recognition events can then automatically be exported to an accounting or
financial
system. To use this functionality, administrators navigate to
My Account > Company > Settings and set the Billing Rate field to "Project
Billing Rules."
Then, navigate to Projects > Projects > select a project > Recognition. For
more
information on using this feature, click on the Help tab and go to the
Recognition section in the online documentation, or contact our support team.
Billing: managers can also configure how clients should be invoiced. For
example, a
client can be billed specific fixed fee amounts once certain project
milestones are
met. These fixed fee amounts can then automatically be placed on an invoice
and sent
to a customer. Also, project-specific user rates can be used; these override
default
user rates. To use this functionality, administrators navigate to
My Account > Company > Settings and set the Billing Rate field to "Project
Billing Rules."
Then, navigate to Projects > Projects > select a project > Billing. For more
information
on using this feature, click on the Help tab and go to the Billing section
under
Projects tab in the online documentation, or contact our support team.
5. Timesheets: capture estimate-to-complete time for percent complete.
Designed to work in close coordination with the new revenue recognition
functionality (noted above in 4. Projects), the new estimate-to-complete data
capture
enables more accurate task, phase, and project percent complete calculations.
Users
input this data right alongside the hours they log on timesheets. For example,
a
user logs 10 hours of worked time to Client A: Project B, Task X in his/her
timesheet.
Next, the user estimates the number of hours s/he has left to complete the
task in
the "Hours Remaining" field, say 20. The user then submits the timesheet and
estimated hours remaining to his/her approvers as normal.
The OpenAir system uses the data to calculate the percent complete. If the
account
administrator has enabled the revenue/cost recognition functionality, s/he can
set up
recognition of revenue or cost to occur based on percent complete.
To enable this functionality, account administrators navigate to My Account >
Company >
Settings, then scroll down to "Timesheet Options" and select "Enable the hours
remaining estimating feature." Users fill out their timesheet as before. In
addition,
they click on the "Hours remaining" sub tab to enter in hours remaining on
tasks to
which they are assigned.
6. New Purchases module: automate the PO process.
Enterprises that would like to automate their purchase request, purchase
order,
purchase fulfillment, and purchase re-billing processes can use the new
OpenAir
Purchases module. The new module automates employee requests for internal
items such
as office supplies and project team requests for equipment or third-party
products
that need to be purchased and then re-billed to a client.
Purchase request. Employees or project team members navigate to the Purchases
module
and create a purchase request, indicating the product and, if known, the
manufacturer,
vendor, and predicted price. The user then submits the request, which is
routed
through a configurable approval process for manager sign off. At the end of
every
approval process, a purchasing agent receives the request.
Purchase order. The OpenAir solution alerts the enterprise purchasing agent(s)
that purchase requests have been made. Purchasing agents then aggregate
requests
for a single vendor and create a purchase order for goods from that vendor.
POs can
be submitted to an approval process if necessary. Finally, POs are emailed or
printed
and sent to the vendor. PO layouts can be configured to meet specific vendor
and
enterprise needs.
When the purchase arrives, a receiving clerk can mark the goods as received.
Users
awaiting purchased items can monitor the status of the item at any time by
logging
into the OpenAir system. Finally, once the items are marked as received,
project
accounting managers can choose to re-bill purchased items to a client.
To enable this functionality account administrators navigate to My Account >
Account >
Users > select a user > Access control > Module access, then select Purchases
as an
enabled module. Users who have access to this module can access it just as
they
access all other modulesby clicking on the "Purchases" module link at
the top
of the OpenAir screen in their Web browsers.
7. Reporting: view report data using your company's organizational
hierarchy.
Enterprises using OpenAir can now set up hierarchies that reflect how
employees and
projects roll up into organizational units (office location, country, business
unit,
department, etc.). In addition, OpenAir now offers a drill-down reporting
capability
that is configurable to view specific data by hierarchical group. The
combination of
hierarchies and drill-down reporting give managers and executives enormous
flexibility to get a sophisticated view of their business. For example, a
manager could
view profitability based on project revenue and cost for any part of the
organizational
structureby business unit first, then drill down into the departments
that
constitute the business unit. Or, for another example, an executive could view
all the
time and expense data logged by the several groups that report to him/her so
that s/he
could discern which parts of the organization are billing the most time and
minimizing
their expenses.
To enable this feature, account administrators navigate to My Account >
Account >
Hierarchies > select Hierarchy from the New Entries: Create menu. The
administrator then
configures the various levels in the organization into a hierarchy, noting how
the
groups roll up into each other. Finally, s/he assigns users or projects to the
hierarchy
levels. Users then navigate to Reports > Drill Down and follow the directions
indicated
by the reporting wizard.
8. Would you like to see previous OpenAir product updates?
Click here to browse previous product updates
including all new features, modules and functionality.
9. Suggestions, problems or questions?
As always, please contact us at support@openair.com or 888.367.1715
(outside the
U.S. and Canada, call 617-351-0226). We want to ensure that OpenAir improves
your company's bottom line.
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