EcoSys Project Cost Management Solution Featured in Oracle Profit Magazine

January 10, 2011 -- Rye Brook, NY

EcoSys, the industry leader in planning & cost controls software, is currently featured in the February 2011 special Primavera issue (print edition) of Oracle's Profit Magazine. The article, recognizing EcoSys as an Oracle Primavera Partner, speaks to the software's unique fit for project cost management, bridging the gap between planning and execution for project-driven organizations.

Please see the full text of the article below or download a copy.
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EcoSys: Bridging the Project Cost Management Gap

Primavera software is a highly effective tool for managing projects. But from a corporate perspective, it is just one source of information needed for effective project cost controls and performance management.

At many organizations, the data needed for project cost management is spread across ERP applications and homegrown systems, as well as the project planning and scheduling system. As a result, cost planning and reporting involve the manual, spreadsheet-based integration of data, which can be slow and error-prone. In fact, an organization's cost analysts may well be spending close to two-thirds of their time just finding and organizing information--leaving relatively little time for actually understanding and controlling costs. "In many cases, it can be difficult to link strategic plans to day-to-day work--and ultimately, to react quickly and effectively to issues and opportunities," says Javier Sloninsky, managing director and CEO of EcoSys.

To help organizations tackle that problem, EcoSys has created an enterprise project planning and cost controls system that lets companies tightly link projects, programs, and operations. The EcoSys software complements the Primavera solution, enabling companies to gain control of the entire project lifecycle, and integrate organizational budgeting with the funding of programs and projects. "The solution essentially bridges that gap between corporate strategic planning and project performance, and creates one clear perspective for decision makers," says Sloninsky.

Understanding the Big Picture

To be effective, project management processes need to flow from both the top down and the bottom up--that is, down from the executives who are responsible for strategy, and up from the people who are close to the work. Planners and analysts need to reconcile the information flowing in both directions. The EcoSys software enables them to do just that, and to essentially extend high-level planning into operations.

EcoSys provides the tools needed for long-range capital planning, budgeting and forecasting, project cost management, funds management, resource management, and performance measurement including earned value. With it, companies can integrate the budget process across cost centers and portfolios, programs, projects, and operations--and align their spending and budgets with their strategic priorities.

EcoSys has its roots in real-world experience. The company was founded by designers of the Primavera solution, who saw an opportunity to help organizations implement Primavera. EcoSys went on to support some of the largest enterprise project-management implementations in the world. Along the way, it recognized a need for software that would link real-time cost data and project management--and the result was EcoSys' enterprise software.

Coming from that background, the EcoSys software is designed to fit into today's IT landscapes. It is seamlessly integrated with the Primavera solution, and EcoSys is an Oracle Technology and Service Partner. The software also provides easy integration with ERP systems, including the Oracle E-Business suite, PeopleSoft and JD Edwards--and it is certified to run on the Oracle Database and the Oracle WebLogic application server.

Just as important, EcoSys is highly configurable, meaning that it can be easily adapted to existing processes. "The critical success factor has been our ability to tailor terminology, spreadsheets and dashboards to specific client requirements without custom programming. Clients realize lower cost of ownership and higher user adoption," says Sloninsky. What's more, the software is entirely web-based, eliminating the need for installation in remote offices and making it easy to deploy from a central location. And once the system is in place, end users can typically build their own reports, without calling on the IT department.

Bringing Results to Key Industries

EcoSys is used in a wide range of industries, from financial services and government to energy, utilities, technology, and aerospace and defense. For example, the software provides the multicurrency capabilities needed by oil and gas companies. For public-sector agencies and contractors, it provides the tools needed to comply with the 32 ANSI 748 Criteria for Earned Value Management (EVM). EcoSys software has been used by SunTrust Banks to simplify processes and shorten annual budgeting from months to weeks; by the Federal Aviation Administration as a hub connecting the agency and its contractors to increase efficiency and accuracy in evaluating proposals and compiling reports; and by Amtrak to improve its analysis of multi-year projects and develop accurate five-year capital plans.

The efficiencies from this kind of approach are important. But so too are the benefits of increased visibility, speed and flexibility. "At heart, the solution can help enable change and move projects forward more effectively," says Sloninsky. "These things are critical in a world where organizations need more than ever to be agile and responsive."