Project Spend Management
Easily create, track, and manage all your ongoing projects
- Track spend in real time
- Monitor project spend and purchasing
- Control project margins with pinpoint accuracy
Today's Budget Management Challenges
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Lack of visibility into ongoing costs
Lack of visibility into ongoing costs
Difficulty tracking actual spend
Difficulty tracking actual spend
No consolidated analysis across projects
No consolidated analysis across projects
Master Your Project Spend with Weproc
Core Features of Project Spend Management
Centralize all project-related information
Each project includes:
- spend,
- commitments and pre-commitments,
- margins,
- key dates,
- involved entities,
- associated purchases,
- participating suppliers.
No more cross-referencing multiple sources: everything is in one place.
Track your spend in real time
Every purchase order, approval, and invoice automatically updates your project’s spend. Budget deviations are spotted instantly.
Analyze margins on a project-by-project basis
Weproc automatically calculates:
- budgeted cost,
- actual cost,
- outstanding commitments to be invoiced,
- realized margin,
- available margin,
- projected variance.
Decision-making becomes instantaneous.
Compare projects to identify optimization opportunities
With a consolidated view, you can compare project performance, identify the most profitable ones, and understand the reasons for any discrepancies.
Manage forecasting with ease
Weproc helps you anticipate future needs with:
- projections of future spend,
- analysis of the most impacted line items,
- margin simulations based on different scenarios.
Well-Managed Projects: How It Works
1. Create your project: define the client, dates, budget, and objectives.
2. Assign teams and responsibilities.
3. Link the budget and spend categories.
4. Requests and purchase orders automatically feed into spend and margin calculations.
5. Alerts prevent budget overruns.
6. You track progress, actual costs, and overall performance.
What are some real-world use cases?
The Project Management tool meets various on-the-ground needs: in the manufacturing industry, it allows for precise tracking of costs by site, equipment, operations, labor, or supplies. In the construction industry, it provides a complete view of spend by work package, subcontractor, or construction phase. For IT services companies, engineering firms, or consulting agencies, it simplifies the management of assignments, associated expenses, and margins by client or project. Finally, for multi-site groups, it enables performance comparison between locations, data consolidation, and centralized activity management.
Margin Calculation & Financial Control
Weproc calculates margins automatically
With every purchase, margin indicators are updated. Your project managers get a clear view of profitability levels without any manual reprocessing.
Anticipate financial deviations
Variances between planned and actual spend are visible immediately. Teams can adjust their strategy without waiting for the end of the month.
Automated Spend Tracking
Every purchase order or approval updates the project’s spend, line by line.
You eliminate:
- manual reprocessing,
- project managers’ Excel files,
- human error,
- unjustified variances.
Dedicated Project Approval Workflows
Configure specific approvals:
- by purchase type,
- by amount,
- by spend category,
- based on the remaining margin threshold.
Decisions become fast, reliable, and tailored to the project’s context.
Security, Compliance, and Governance
Complete traceability
All commitments, approvals, and modifications are timestamped and linked to the relevant individuals.
Prevent over-commitment
It’s impossible to exceed budgets without approval.
Enforce internal procedures
Each project follows the rules you define: governance, thresholds, workflows.
17% in additional margin when a company effectively tracks its projects
FAQ – Project Spend Management
Frequently Asked Questions
You have questions? We have answers!
To effectively manage procurement-related projects in a company, it’s important to adopt a structured approach.
With Weproc, it’s easy to centralize information related to supplier contracts, product and service catalogs, and budgets.
Implementing approval workflows to organize purchasing and validation processes will improve communication between different stakeholders and ensure rigorous tracking of your projects.
To measure the performance of procurement projects, it’s essential to define Key Performance Indicators (KPIs) tailored to the company’s objectives. These indicators can include metrics such as cost savings, delivery times, product and service quality, or supplier relationships.
Regular and analytical tracking of these KPIs will help identify areas for improvement and optimize project management across different spend categories.
In multi-site companies, managing procurement projects can be simplified by implementing a procurement software like Weproc.
With its features, Weproc allows you to coordinate purchasing processes between different sites, standardize supplier contracts, and share product and service catalogs.
It is also important to track the spend and performance of your various departments to identify opportunities for improvement and savings.
To minimize risks in your projects, it’s recommended to adopt a proactive approach and closely monitor market trends, technological advancements, and new regulations.
It is also important to diversify your supplier portfolio, establish budgets tailored to the company’s actual needs, and regularly monitor the performance of your buyers.
Finally, an integrated approval workflow for your various projects helps limit errors and delays in the procurement cycle.
Effective project management offers numerous benefits for a business, including:
- Cost reduction: By negotiating prices and selecting suppliers with the best terms, a company can achieve significant savings.
- Improved product and service quality: Working with reliable, high-performing suppliers ensures the quality of purchased goods and services.
- Process optimization: Efficient procurement management simplifies and accelerates supply processes, reducing lead times and administrative costs.
- Stronger supplier relationships: Maintaining trusting, collaborative relationships with suppliers can lead to better service and more favorable purchasing conditions.
- Better risk management: By monitoring supplier performance and diversifying supply sources, a company can reduce risks related to stockouts, quality issues, or price fluctuations.
Want to learn more?
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