Automate Your Way to Better Project Financial Control with OpenAir Scripts

Managing project financials shouldn’t require constant manual oversight and intervention. Through strategic automation with OpenAir scripts, organizations can transform their financial controls from reactive to proactive, catching issues before they impact the bottom line.

The Challenge

Project financial management often relies heavily on periodic manual reviews and reports. This approach leaves organizations vulnerable to budget overruns, delayed billing, and missed revenue opportunities. Additionally, by the time issues are identified through standard reporting, it’s often too late to take corrective action.

The Solution

Custom OpenAir scripts can automate critical financial monitoring and controls. Here are just three examples:

1.  Budget Threshold Monitoring

• Automatic notifications when projects reach specified budget thresholds
• Custom alerts to project owners, executive sponsors, and stakeholders
• Multiple threshold levels for escalating awareness

2.  Revenue Recognition Automation

• Automated percent complete calculations based on revenue transactions
• Real-time project completion tracking
• Simplified revenue forecasting

3.  Intelligent Charge Management

• Automated charge rollup for simplified invoice processing
• Preserved audit trail of individual charges
• Improved integration performance for large-scale billing

In case you missed it, we wrote an article previously that goes into additional details regarding the power of scripted financial workflows- Beyond Out-of-the-Box: Advanced OpenAir Financial Workflows.

Implementation Benefits

In short, organizations who implement scripts with a view to unify the overall financial workflow will experience:

• Earlier detection of budget issues
• Reduced manual oversight requirements
• Improved billing accuracy
• Faster invoice processing
• Enhanced financial visibility

Getting Started

These types of custom scripts have already helped numerous organizations strengthen their project financial controls. Contact Top Step to learn how we can implement similar automation for your OpenAir environment.