Remember Jane? She is a Project Manager working with professional sales and administration in Meetings & Events. She is now using Qondor to organise an incentive trip for one of her best clients to Barcelona.
After booking flights and agreeing with the DMC (Destination Management Company) on program and prices, her client accepts the project and signs it online in Qondor. After confirming the order with her suppliers, she agrees with the client that minibar expenses should be invoiced to Jane’s company directly from the hotel.
The client had a great trip, and spent a lot of money on the minibar! After the client gets back, Jane asks finance for a list of all transactions for the project. She compares the invoices to the offer, and prepares the final invoice for the client. After sending the final invoice, she remembers that the minibar bill is expected from the hotel but not received yet. Although Jane would love to check the finance system herself, company policy prevents this, so she repeatedly asks the finance department for updates. Finally, the invoice from the hotel is in, and she can invoice the minibar bill to the client and close the project. Both Jane and people from finance have spent a lot of time tracking this last payment in order to close the project.
But what if she forgot about the minibar bill? Or was sick and no one else knew about it? Or the finance department were busy?
Introducing the Project Ledger
Jane knows that she can find all expected costs and sales in Qondor for her projects. The estimated numbers are based on a fine-tuned algorithm which give her (and her manager) sales and revenue forecast.
While estimated numbers is good for expectations and forecasting, Jane knows all too well that it is extremely important to keep track of the actual numbers to secure her margins. In order to help Jane, we need to understand the basics of the invoicing process:
The supplier invoices and other automatic payments like BSP are to be found in the finance system. But to greatly improve efficiency for Jane, her company has started to synchronize actual costs and sales to Qondor!
Seeing actuals in Qondor saves Jane and the finance department a lot of time, which she can use on our clients instead!
Jane easily identifies that there is a difference between estimated and actual numbers:
And she easily identifies the minibar invoice from W Hotel which she can invoice to her client and close the project.
Want to work like Jane? Let’s talk! Click the bubble on the bottom right to start a chat or schedule a demo/meeting with us.