Mavenlink today announced the launch of new capabilities which provide users with end-to-end financial reporting and management control. With real-time visibility into their projects and financials, Mavenlink customers benefit from greater visibility and control over their business performance, and staying in alignment with business goals becomes more certain.
“Mavenlink, and our new smart class of products, is improving the way work is defined and managed across distributed teams,” said Ray Grainger, Mavenlink’s CEO. “With the addition of these new financial management and reporting capabilities, Mavenlink becomes even more compelling, enabling businesses to improve productivity, increase profitability and more effectively manage business outcomes.”
Mavenlink enables companies to efficiently manage more of their business online, including team & project management, messaging & conversations, file management, time & expense management, invoicing & online payments and financial reporting. Mavenlink’s new reports, available in real-time and multiple currencies, provide users a detailed view of the entire financial life cycle of projects.
Key new features include:
- Utilization Reports: Maximize revenue through more efficient resource utilization and planning
- Work In Progress (WIP) Reports: Keep track of planned and actual costs, as well as what has been billed and awaits billing on any project for every client
- Accounts Receivable Aging Reports: Reduce time-to-payment through better visibility of upcoming and late invoices
- Time Sheets: Effortlessly capture time, view and report on billable and non-billable hours for each team member or workgroup, with a real-time view of project costs
- Task-Level Budgeting: Manage cost expectations and ensure tighter project controls by tracking budgets (hours and dollars) down to the task level
“Social Task Management (STM) platforms combine project management and social networking to enable teams to more effectively get their work done,” said Alan Lepofsky, Vice President and Principal Analyst at Constellation Research. “By adding capabilities with financial related areas such as budgeting, invoicing payments and management reporting, Mavenlink has created a single place for team members to seamlessly organize all aspects of a project. I’ve yet to see this type of broad project management and financials together from any other STM SaaS provider.”