Verifying Profitability in Sage 300 CRE (and beyond) is important

When taking on a new project or analyzing an existing one, you should complete a project profitability verification.

Confirm Accuracy

Before starting a new project, or when assessing an existing one, you need to verify the project profitability to confirm the accuracy. The financial success of a project is complicated, and unless you go through the full process of verifying the revenue and expenses associated with the project, being 100% sure of the projections is impossible.

Identify Unconsidered Risks or Opportunities

Another reason you should verify project profitability is that it will allow you to identify unconsidered risks. When you go through the process of proving out financial statements or a budget, a new set of eyes will look at the project. When this happens, it could become apparent that there are risks not previously considered. It could go the other way, too – it might help you identify other opportunities to boost overall profitability.

Better Business Planning

When you go through the process of verifying the profitability of your project, another advantage is being able to make a better business plan. Good business decisions require accurate details – inaccurate business plans/project summaries could lead to a misguided decision. Verifying profitability will offer assurance you’re making the right decisions.

Cabbage can help you with the process of verifying project profitability and help you have more successful projects. Contact us for more information.