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

The award winning online project management software - ZilicusPM, launched latest version ZilicusPM 6.0; introduces project budget, cost, expenses and billing management solution.

Houston, TX, Jan, 16th 2013 - Zilicus Solutions, the leading provider of award winning online project management software, announced launch of the latest version ZilicusPM 6.0. ZilicusPM 6.0 helps project manager to effectively manage project financial with its budget, cost, expense and billing management solution.

"Managing projects has never been easier, 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 robust and mature 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 cost over-run. ZilicusPM highlights whenever project cost overshoot the budget. Using ZilicusPM user can set budget in its own currency; also indicate billing preference such as 'Fixed Price', 'At actual resource cost' etc. Dashboard in ZilicusPM clearly shows real time financial health of individual project as well as portfolio of projects.

Project Portfolio Budget Cost Dashboard in ZilicusPM
Project Portfolio Budget Cost Dashboard in ZilicusPM

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 realistic estimation of time and cost. Using ZilicusPM, project manager can specify

  • Project resource cost rate, billing rate in its own currency
  • Estimated cost (fixed, resource and other) at any task and sub-task level
  • Actual cost (fixed, resource and other) at any task and sub-task level

As project progresses, project manager can track and compare estimated resource cost, estimated fixed against actual resource cost, actual fixed cost and actual expenses. The same comparison is made available at project level with aggregate numbers. ZilicusPM provides a separate view and report for project manager to track estimated and actual costs.

Track Task Estimated and Actual Cost
Track Estimated and Actual Cost for Project Tasks

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 remain 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 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, otherwise, these entries are auto-approved on submission.

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

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

To view screenshot of the features introduced in ZilicusPM6.1, please visit this page.

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, Australia.