Project Partners Blog


Archive for the ‘Industries Corner’ Category

A FRESH APPROACH TO ORACLE CAPITAL PROJECTS AND FIXED ASSETS

In this webinar, we’ll discuss how to move beyond to drive efficiencies and reporting accuracies with a fresh approach to Oracle Capital Projects, fixed assets, and showcase how Project Partners successfully delivered this solution for a customer that is using a third party fixed assets system to manage their capital projects.

We Invite You To Join Us And Learn More About This Powerful Solution:  

• The Capital Projects functionality delivered in Oracle Project Costing has enabled many of our customers to take advantage of the native integration to Oracle Fixed Assets

• However, there are industries that require a greater level of detail, control for estimating and allocating asset costs

• To address this, our team developed a solution that supports the need for greater level of detail, control of asset costs and allocations – which we will review and showcase for you

REGISTRATION OPEN NOW

Register today, and feel free to review our resource library and services overview at www.projectp.com.  HAVE QUESTIONS?  Need more information about this Webinar or other services  – We’re here to help!

Schedule a Consultation:
Phone: #1.650.712.6203   Email: cfryc@projectp.com

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Project Partners, Oracle Platinum Partner, and global leader in optimizing business processes and IT investments within project-driven organizations.

 

Are you part of a non-traditional Professional Services Organization and feeling the staffing data-burden?

Then you are probably experiencing the common demand around deploying groups of staffing managers to manage these applications, yet with limited budgets and the same needs to manage resource supply and demand in order for your organization to stay effective and profitable.

We Invite You To Join Us In This Insightful Session Where You Will Learn:

  • A simpler alternative for Resource Planning
  • How to utilize Project Financial Forecasting to address Resource Planning
  • Ultimately “Two For One – Getting It Done!” – Forecasting

REGISTER TODAY – RESERVE YOUR PLACE

QUESTIONS? Need more information about this Webinar or our Services – We’re here to help!

Schedule a Consultation:
Phone: #1.650.712.6203   Email: cfryc@projectp.com

We look forward to sharing our expertise and knowledge with you for a simpler alternative for Resource Planning.  Register today, or feel free to review our resource library and services overview at www.projectp.com.

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Project Partners, Oracle Platinum Partner, and global leader in optimizing business processes and IT investments within project-driven organizations.

 

 

Project Partners Oracle Primavera P6 EPPM

Implementation Services

Making Your Cloud Vision a Reality.


Through implementation, customization, and integration Project Partners’ Oracle Primavera P6 EPPM experts provide clients with a comprehensive, real-time view of their portfolio, enabling a deep understanding of all projects within an organization anywhere in the world.

Oracle Primavera P6 Enterprise Project Portfolio Management (EPPM) is the most powerful, robust, and easy-to-use solution for globally prioritizing, planning, managing, and executing projects, programs, and portfolios in asset-intensive industries. P6 EPPM solution enables project driven organizations to intelligently manage their programs and projects—from small and simple to large and complex.

Are You Using The Latest And Greatest P6 EPPM Versions?

P6 EPPM cloud version  provides easy access to enhanced features that make it an excellent tool for project centric organizations to meet complex Project Portfolio Management requirements. In addition, it provides comprehensive business and industry solutions based on leading practices enabling  increased productivity, accelerating business performance and providing a lower cost of ownership across the organization.

Ready to Move to the Cloud?

Oracle Primavera P6 EPPM is Ready for You.

We provide expert cloud migration services to integrate P6 EPPM with your finance and asset management systems, providing a consolidated view of the  enterprise project portfolio for an accurate, up-to-date view of projects, people and financial performance.

With Project Partners comprehensive approach to implementation, we can quickly and easily – WITHIN 4-6 WEEKS – provide a full assessment, and develop your migration path to make your Cloud Vision a Reality.

 LEARN  MORE ABOUT OUR ASSESSMENT OFFER AND
CLICK HERE NOW TO GET STARTED

www.projectp.com | Phone: +1.650.712.6200

Providing Our Customers With Better Project Delivery Through Full-Service…

PROJECT APPLICATION | PROCESS ASSESSMENTS

Whether helping you uncover hidden project challenges stemming from your current functional and operational applications/processes to understanding the why and how to migrate to the cloud, our PROJECT APPLICATION/PROCESS ASSESSMENT services give you the rigorous framework you need to achieve success quickly.

We Will Partner With You to Assess Your Project Applications and Background Processes Inside and Out. 

Projects is the link that can penetrate your entire organization and requires careful analysis to maximize efficient operations.  If you are experiencing what appears to be a pain in your organization’s business process and applications, then now is the time to take another look and assess with the experts.

SPECIAL ASSESSMENT OFFER

With Your SIMPLE next steps to obtain Project Partners holistic approach to a full assessment and associated discount offer.

 

ORACLE INSTANTIS ENTERPRISETRACK IS THE SOLUTION

Project Partners is considered the Global Experts in Oracle Instantis EnterpriseTrack — Providing Your Organization full and continuous support from our specialized Instantis practice.

Instantis can improve financial performance and drive operational excellence with a top-down approach to managing, tracking, and reporting on enterprise strategies, projects, portfolios, processes, resources, and results.

Project Partners and Instantis helping you optimize project and resource investments. Working with our customers to provide an Oracle-approved solution to get you live and running on Instantis in 8 to 12 weeks. Oracle Accelerate for IT Portfolio Management With Oracle’s Instantis EnterpriseTrack™ empowers IT to become a strategic business partner in helping drive the growth of their firm.

Consider this competitive alternative that is proven, cost effective, easy to deploy quickly, easy to use and administer, and easy to achieve a compelling ROI.
Accelerate your Project Portfolio Management with Project Partners, Oracle’s preferred partner, providing end-to-end INSTANTIS SERVICE OFFERINGS.

LEARN MORE HERE

Connect With us Today – Schedule a Consultation: Phone: #1.650.712.6203   Email: cfryc@projectp.com

MULTIPLE, LARGE, & COMPLEX PROJECTS CAN LEAD TO MANY CHALLENGES FOR YOUR ORGANIZATION, HINDERING ITS GROWTH.

Growing rapidly and searching to improve operational efficiencies that will allow you to take on more business?

PROJECT PARTNERS ORACLE PRIMAVERA UNIFIER CONSULTING SERVICES

 We have helped many of our customers by providing their organizations a best-in-class cloud-based solution that enables governance across all project phases, from planning and building to operations and maintenance, and seamlessly manages capital projects and facilities of any size, in every vertical market across the globe.

OUR PROVEN STRENGTH.

We are a Primavera Authorized Reseller and are considered by our customers as one of the best in “Unifying“, integrating and tying your data together, even if your organization is running outside of the Oracle footprint.

CHECK OUT OUR SOLUTIONS FEATURES/BENEFITS DEMO

REQUEST A UNIFIER SOLUTION DEMO NOW

 

Project Partners solution experts will help your team assess, innovate, transform, and lead your business with our Primavera Unifier Services.

Experience a whole New Level of Visibility into Progress & Performance of Projects.

Connect With us Today – Schedule a Consultation:
Phone: #1.650.712.6203   Email: cfryc@projectp.com

PROJECT PARTNERS PROUDLY ACHIEVES PLATINUM PARTNER STATUS IN
ORACLE PARTNERNETWORK (OPN)

HALF MOON BAY, Calif., January 16, 2019 – Project Partners, a global leader in optimizing business processes and IT investments within project-driven organizations, today announced that it has achieved Platinum partner status in Oracle PartnerNetwork (OPN).  By attaining Platinum level membership, Oracle has recognized Project Partners for its in-depth expertise and continued excellence in providing services for Oracle applications and technology.

“We are honored to be in the highest level of the OPN Program. With our new designation as a Platinum Partner in the Oracle PartnerNetwork (OPN), Project Partners will continue to strengthen and build upon its 20+ year relationship with Oracle,” said Randy Egger, President/CEO, Project Partners.  Our global team has continually demonstrated deep application expertise and are working to obtain additional certified specializations across Oracle application solutions areas to better serve our project-centric customers.”

The company offers deep industry expertise across key Oracle applications and technologies including the Oracle ERP Cloud, Oracle E-Business Suite, and Oracle Primavera applications.  In addition, we have developed products and solutions to support and augment our customers’ off-the-shelf products.  We are proud to be widely recognized as The Experts in Solutions for Project-Driven Organizations™ and look forward to continuing collaboration, sharing industry experiences and leveraging our Platinum Partner status to enable organizations, partners and Oracle.

With its Platinum status, Project Partners will benefit with the high level of engagement, commitment and resources available to OPN partners.  Platinum members receive dedicated virtual account management support to build joint development plans and help broaden specialization areas and revenue opportunities. Additional benefits include priority placement in the OPN Solutions Catalog, one free application integration validated by Oracle, joint marketing and sales opportunities, discounted training and more. For more information about the benefits of becoming an OPN Platinum level partner, please visit: http://www.oracle.com/us/partnerships/index.htm

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About Project Partners, LLC.

Headquartered in Half Moon Bay, California | Project Partners is the global leader in optimizing business processes and IT investments within project-driven organizations. We are dedicated to helping businesses achieve their goals with smart, effective and scalable Oracle Application solutions that improve processes and deploy technology to maximize project life cycle ROI. Our business process experts understand and support customers with their evolving business models and help them drive productivity to meet the demands of the market and their organization.

Project Partners has a diverse team who is expert in leveraging Oracle’s ERP Cloud, E-Business Suite and Primavera solutions. We have global locations worldwide to support multi-geographical operations and have executed implementations for hundreds of clients who manage tens of thousands of projects, thousands of users, multiple languages and currencies. In addition, we have developed products and solutions to support and augment our customers’ off-the-shelf products.  Project Partners is proud to be widely recognized as The Experts in Solutions for Project-Driven Organizations™.

Project Partners is a proud Oracle Platinum Partner, Oracle Certified Education provider and authorized Reseller of Primavera and Oracle Cloud PPM, and Cloud Financials.  We hold an Oracle Cloud Standard certification, with specializations in Oracle® E-Business Suite™ with Projects, Primavera and Oracle Validated Integration’s in EBS.

For more information, visit: http://www.projectp.com/

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About Oracle PartnerNetwork

Oracle PartnerNetwork (OPN) is Oracle’s partner program that provides partners with a differentiated advantage to develop, sell and implement Oracle solutions. OPN offers resources to train and support specialized knowledge of Oracle’s products and solutions and has evolved to recognize Oracle’s growing product portfolio, partner base and business opportunity. Key to the latest enhancements to OPN is the ability for partners to be recognized and rewarded for their investment in Oracle Cloud. Partners engaging with Oracle will be able to differentiate their Oracle Cloud expertise and success with customers through the OPN Cloud program – an innovative program that complements existing OPN program levels with tiers of recognition and progressive benefits for partners working with Oracle Cloud.

To find out more visit: http://www.oracle.com/partners

 

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 Project Partners Blog Author: Donna Dignam | Principal Functional Consultant 
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In April 2015, FASB (Financial Accounting Standards Board) issued ASU (Accounting Standards Update) 2015-05 to assist entities to determine when a customer in a cloud computing arrangement “CCA” (i.e. hosting arrangement) included a software license.

If a CCA includes a license to internal use software, the software license is accounted for by the customer as an intangible asset.  Basically, the intangible asset is recognized for the software license, and the payments or said license made over time are recognized as a liability.  If no software license is included in the contract, the company should account for the arrangement as a service contract, and the fees associated with the hosting service of the arrangement are expensed as incurred.

The Update did not give any guidance regarding the implementation costs for activities performed in a cloud computing arrangement as a service contract.  Since the FASB guidance in this area was not explicit, the Board decided to issue an Update to specifically address the resulting diversity in practice.

Who Is Affected by ASU 2018-154?

These Amendments on the accounting for implementation, setup and other upfront costs (commonly referred to as implementation costs) apply to entities that are a customer in a hosting arrangement that is a service contract.  Oracle Cloud computing arrangements where a license is sold to the customer along with a hosting arrangement with Oracle Cloud would be one such customer.

Main Provisions of ASU 20184

The Update’s intent is to align the requirements for capitalizing implementation costs incurred in a hosting arrangement that is a service contract with the requirements for capitalizing implementation costs incurred to develop or obtain internal use software and hosting arrangements that include an internal-use software license.  The current accounting for the service element of a hosting arrangement is not affected.

It is up to the company to determine which implementation costs to capitalize as an asset related to the service contract and which to expense.  Costs to develop or obtain internal use software that could not be capitalized under Subtopic 350-40, such as training costs and certain data conversion cost, also cannot be capitalized for a hosting arrangement that is a service contract.  The company in a hosting arrangement that is a service contract determines which project stage an implementation activity relates to.  Project stages include preliminary project stage, application development stage or post implementation stage.  Costs incurred for the application development stage are capitalized, while those costs related to the preliminary project stage or the post implementation stage are expensed as the activities are performed.

In addition, the company is required to amortize the capitalized implementation costs over the terms of the hosting arrangement.  The term of the hosting arrangement includes the noncancellable period of the arrangement plus periods covered by:

  1. Option to Extend – customer must be reasonable expected to exercise this option
  2. Option to Terminate the Arrangement – where the customer is reasonably expected NOT to exercise this option
  3. Option to Extend or Not to Terminate – where the vendor has control of exercising the option.

Impairment guidance, as if the costs were long-lived assets, and abandonment are to be applied based upon the existing guidance in SubTopics 350-40 and 360-10, respectively.

Income Statement presentation by the entity should be the same line item as the fees associated with the hosting service of the arrangement.  Similarly, classification of payments for capitalized implementation costs in the Statement of Cash Flows are done in the same manner as payments made for fees associated with the hosting arrangement.  In the Statement of Financial Position, capitalized implementation costs are presented in the same line item that a prepayment for fees associated to the hosting arrangement would be presented.

How is This Different and Why is it an Improvement?

Currently, GAAP does not specifically address accounting for implementation costs associated with a HASC.  Therefore, the Update improves current GAAP as it clarifies accounting and aligns the accounting for implementation costs for hosting arrangements, regardless of whether a license is conveyed.

For consulting firms, the new standards present an improved selling point as costs that were previously required to be expensed can now be capitalized.  For capital intensive industries, where cloud applications are being considered and dismissed due to financial considerations around increased expenses (and resulting decreased profitability metrics) due to cloud implementation, the new standard allows a way to capitalize the costs associated to both the license and the implementation and development costs around getting that application stood up.

When Does This New Update Take Affect?

For public entities, the amendments are effective for fiscal years beginning after December 15, 2019 and interim periods within those fiscal years. For all other entities, annual reporting periods beginning after December 15, 2020, and interim periods within annual periods beginning after December 15, 2021 are required.  Early adoption is permitted at any time.

The amendments in this Update should be applied either retrospectively or prospectively to all implementation costs incurred after the date of adoption.

Have Questions?
Simply reach out to us and our experts will immediately assist, provide additional information,
and answer any of your questions.

P: #1.650.712.6203  |   Email: cfryc@projectp.com

 

Author: Wendy Lamar | Managing Principal Consultant | Project Partners
Oracle E-Business Suite R12 Project Certified Implementation Specialist


Your Organization Could Have a Whole New Level of VISIBILITY INTO PROGRESS & PERFORMANCE OF PROJECTS?

PROJECT PARTNERS ORACLE PRIMAVERA UNIFIER CONSULTING SERVICES has successfully helped many of our customers by providing their organizations a best-in-class cloud-based solution that enables governance across all project phases, from planning and building to operations and maintenance.

The Oracle Primavera Unifier solution manages capital projects and facilities of any size in every vertical market. It combines rich cost management and control, document management, schedule and resource management, fund management, and more through “base” pre-built modules. In addition to its robust functionalities, it also has the ability to create custom modules to meet each organization’s unique business requirements.

We are a Primavera Authorized Reseller and are considered by our customers as one of the best in “Unifying”, integrating and tying your data together, even if your organization is running outside of the Oracle footprint. That’s our proven strength.

GO TO THE NEXT LEVEL WITH A BETTER PLAN FOR A RAPID PROJECT EXECUTION.

CLICK HERE NOW
To learn more about the FEATURES & BENEFITS and get a glimpse into how our
Oracle Primavera Unifier Consulting solution works with a brief DEMO HERE.

For immediate response/call back please connect with us here:  P: #1.650.712.6203   Email: cfryc@projectp.com