Cases > Factor4
Case: Factor4
Discover how Factor4 transitioned from an Exact Online environment to an integrated and versatile solution with Odoo.
Accounting
Professional management of both traditional and analytical accounting is fundamental to accurate project monitoring and evaluation.
Project & timesheets
Integrated management of projects from start to finish, with a focus on project tasks, detailed planning, accurate time registration, and effective budget management.
Fossil-free property portfolio
Factor4 offers support to both businesses and governments with a comprehensive range of services, including detailed assessments, strategic planning, implementation processes, results verification, and ESG reporting.
For several years, Factor4 has been using a custom-developed tool for recording timesheets and managing projects. As this tool is now outdated, Factor4 called on Nandoo to support them in the transition to Odoo. The implementation was divided into two phases: first the modules for project management and timesheets, followed by the accounting functionalities.
The objectives of the project
- Initiating, monitoring and delivering projects
- Management through detailed planning, time recording and budget analysis
- Migration from Exact Online to Odoo for financial administration
- Full integration of accounting processes into Odoo from 1 January 2024
- Importing historical accounting data 2017-2023
- Implementation of analytical accounting to support project calculations
The ultimate goal is to replace two separate systems, project management and Exact Online, with Odoo.
Projects
The Factor4 project module offers a comprehensive and structured approach to managing all projects, from the initial phase to final delivery. This module enables project managers to consult the current status of their projects at any time. This includes not only detailed information about planning and progress, but also an overview of what has already been invoiced and what can still be invoiced. In addition, the module provides insight into the hours worked per project and per employee, enabling accurate evaluation of deployment and productivity. With these functionalities, Factor4 creates a robust 360-degree overview that includes both historical and current data, which is essential for strategic decision-making and optimising project results.
Timesheets
Employees can record their hours worked in a highly efficient manner per project and task within the Odoo system. This system is designed to be accessible from any device, whether it be a laptop, smartphone or tablet, ensuring flexibility and ease of use. Time registration plays a crucial role in ensuring careful and accurate monitoring of the progress of each project and the associated tasks. This detailed registration allows managers and team members to easily analyse performance and time spent. After registration, timesheets can be validated, ensuring a transparent process, and then integrated into invoicing, guaranteeing efficient and accurate financial administration.
Accounting
With the recent introduction of the accounting module, Factor4 now has access to an advanced and highly efficient system that enables them to manage their financial administration in a professional manner. This module offers a wide range of features, including automated invoicing, seamless payment processing and comprehensive financial reporting, all designed to reduce the administrative burden. In addition, the module makes it easy to consult historical figures, which is essential for making informed business decisions. Another important aspect of this module is the implementation of full analytical accounting, which enables Factor4 to accurately monitor and analyse the progress and performance of their projects, contributing to improved strategic planning and resource allocation.