Table of Contents
Verdict
Factor AE is an accessible and cost-effective software solution that assists architecture, and engineering companies in handling project management, resource allocation, invoicing, and overall profitability.
What Do We Like?
– Project templates and phase breakdowns that can be customized
– Project-level activities and scheduling – Firm-level resource schedule – Subconsultant management
– Simple, intuitive time entering – Extensive billing
– KPIs and reporting tailored to the industry – QuickBooks integration
What Could Be Improved?
- Tracking proposals vs. active projects
- Report of Projects
- Missing employee reimbursable expense to be a bill to pay.
Overview
Factor AE was developed to provide a cost-effective software choice for small to mid-size architecture and engineering firms. The customizable project breakdowns, sub-consultant management, project tasking, resource scheduling, time entry, thorough invoicing, and industry-specific KPI’s were some of the key pain issues that it was created to address for A/E organizations. Additionally, Factor interacts with QuickBooks Online, provides full onboarding assistance, and doesn’t charge extra for support.
Factor is a business management tool for project-based businesses that enhances profitability and enterprise scalability. Factor AE and Factor DEV are the two platforms that are included with the program. The industry’s highest standards were used in the development of Factor AE, which enables companies to manage their money effectively. A program called Factor DEV lets users track software development projects so they can confidently launch their businesses.
The software includes a special KPI dashboard that offers on-the-go insights about the company’s status. Through the use of key performance indicators, Factor assists users in tracking business progress and helping them reach their financial objectives.
Using this program, users may make decisions based on metrics and increase work productivity while adhering to industry best practices comes with strong tools, including proposal generation, budgeting, time monitoring, and work in progress tracking. Software developers can track, plan, pursue, and achieve their profitability targets using the Factor DEV platform of this program. Additionally, Factor DEV provides strong capabilities that facilitate QuickBooks connection, billing, resource scheduling, and project management.
Factor Features
Manage your finances, and different debtor financing options fast and easily.
- Integration of the General Ledger
The Factor General Ledger module and financial accounting system are fully integrated with the Solution.
- Document Management Software
Documents should be created, stored, and distributed throughout the factoring process. Automate the production of factoring documents, set up document templates, and link to System data.
- Simplify Management of Debt Factoring
Enjoy the collections worksheet’s capability for debt management without trouble. The module enables users to keep track of past-due accounts, take appropriate action, and record their entry into the system (e.g. call the customer, log a promise to pay, follow up call if a promise is broken). With just one click, you may access a “My Collections” view and designate specific accounts to be handled by specialized officers.
- Managing Debt
Keep track of past-due accounts, take action, and record them in the database (e.g. call the customer, log a promise to pay, and follow-up call if a promise is broken).
- Support for Multiple Currencies
Determine the exchange rate applicable to the transaction date for each conversion of a currency amount to a local amount. To keep track of changes over time, save historical exchange rates in the exchange rate table.
- Calculate interest on the outstanding balance of the debt and recalculate it in the event that some of the debt is repaid early. Take advantage of the automation feature for determining late fees as well as allocated, outstanding, and released reserve amounts.
- Tracking and reporting data | Simple access to G/L transactions for any figure calculated and submitted in the system. Every internal report or view may be exported to Excel, Word, or PDF, thanks to built-in platform features.
- Management of Open Invoices
A page-by-page overview of all open invoices. To make sure all acceptance and contract requirements for the client are met, invoices are put through a validation procedure.
Alternatives
Reviews
“The problems that concern architectural and engineering firms the most have been carefully considered in the creation of Factor A/E. Director of A/E Advisory Services at Stambaugh Ness, Brad Wilson, teamed up with Factor to develop a customised version after realising that the A/E business needed comprehensive and user-friendly firm management software.”
“For A/E organisations looking for a platform that meets their functional requirements without being unduly complicated, Factor A/E was created exclusively for them. Factor is more than just software because it has best practises built in and ongoing support from industry professionals. It is a priceless resource for maintaining the health of your projects and business.”
Pricing: One-time implementation fee (amount based on needs)
Monthly or Annual Subscription Options: Starting at $25/user/month
