In industries like construction, manufacturing, and services, managing contract profitability is crucial to maintaining financial health and ensuring that projects or agreements are as profitable as expected While businesses often have sales forecasts, procurement schedules, and expense estimates, tracking profitability in real-time is often more complex and prone to errors, especially when managing multiple contracts or long-term projects.
Enterprise Resource Planning (ERP) systems offer a robust solution for real-time contract profitability tracking, giving businesses the ability to analyze the financial performance of contracts on a continuous basis.