Event Budget Management Software Designed for Agencies
Updated: Aug 16, 2019
Fast-moving, filled with adventure and over serviced. Without a stable collaborative environment in which to plan and manage event budgets and track costs, agencies can find themselves left in the dark. Over servicing goes unchecked and unmonitored, budgets contain damaging mistakes, costs often overrun, and reconciliation is only an afterthought.
Having worked to provide event budget management software to agencies for 30 years, we understand the specific requirements the industry faces and have developed an end-to-end solution designed to help your agency grow. With an unmatched level of depth in event budget management functionality, Procim is being used around the world by agencies large and small, global enterprises as well as single offices.
Flexible Event Budgeting Software
The last thing you need when you’ve got an event to manage or pitch to win is more admin. Event budgeting software provides a secure, formula-free, budget management environment, that limits costly human errors.
With Procim, you can ditch the spreadsheets and fragmented tools in favour of an easy to use, stable, multi-user event budgeting software. Creatives build their budgets in Procim’s highly secure environment, using industry and company specific project templates that present a default structure with tasks and items of cost based on client specific rate cards. Resources are allocated and project activities planned with complete visibility of profit margins, time constraints and availabilities.
Events aren’t static or rigid, neither are budgets. With Procim you have a wide range of budgeting features specifically designed for event agencies, making the budgeting process extremely flexible.
Within each project, there is the option to create different versions of a budget. Budgets are easily duplicated so event managers can plan out the effect of a modified scenario. Procim turns pre-built budgets into well-presented client estimates. At any time during the budgeting process, an updated client estimate is available from an easy to access tab. Client estimates can be generated for different versions of the same budget giving users an easy way to easily present and cost different ideas arming you with the tools you need to win new business.
Often in event management, budgets are revised and modified several times before a price is agreed. In Procim, each budget change is automatically tracked as a budget revision. Procim provides functionality to automatically compare revisions highlighting any changes between revisions.
Client Specific Rate Cards
It’s common when working with a range of clients to agree set charge rates for some of those clients. This can make things complicated when budgeting if you only utilise a single rate card, since budget creators will have to track down how much each client has agreed to pay for each resource.
Procim allows for multiple rate cards, with a default rate card set for each client. Rate cards can include defined charge rates by role or service item along with the cost to your agency of utilising that resource, making the budgeting process less stressful and far more secure.
Reconciliation Made Easy
When a project is approved by a client, Procim produces a contractual document called a Project Acceptance Form (PAF). This acts as a line in the sand providing ongoing visibility of the originally agreed budget. Procim helps ensure that informed decisions are made regarding under or overspending, and makes it easy to decide if, and on what basis, costs should be absorbed or passed onto the clients.
Apart from using budget revisions, changes made to the scope of an event can be formalised and documented through Project Change Notices (PCNs). This document can be sent to the client for approval and contains all proposed or actual changes to costs and budgets.
An automated process can be adopted as part of the final reconciliation to update estimate at completion costs based on actuals. It is then easy to establish which costs should be absorbed or passed on to the client with an appropriate mark-up within a final project change notice (PCN) or as a revised client estimate that incorporates all change (orders) notices raised.
From venues to freelancers, the cost of managing an event can quickly add up, making cost overruns a common occurrence for event agencies. Procim was designed to combat this lack of visibility. By displaying actual costs against budgeted line items, Procim is unique in its ability to control budget variances. All purchase orders, expenses and timesheets raised in Procim automatically display as a cost against the appropriate line item, so discrepancies are instantly caught and you’re always in control of your budget.
Procim’s integrated workflow helps prevent possible cost overruns before they happen. You can use Procim to set up approval processes, creating a smooth, secure workflow across your agency.
When a pitch has been won and your project is up and running, project team members raise POs directly from the budget. Where costs for each budget line are exceeded, approval is required. Approvals and purchasing limits are entirely customisable. For example, Project Coordinator A could have a purchasing limit of £10,000, a budgeting limit of £100,000 and could require approval from Director A, while Project Coordinator B could have different limits and require approvals from Director B. All approvals and limits are handled by Procim. Unique spending limits can be set by person with approvals when those limits are exceeded.
Management are always able to see and keep track of projects remotely and catch any exceptions. There’s no need to micromanage because you can already see and control everything going on in your agency.
Multi-User and Multi-Currency
Planning an event in one country and executing in another? Are you a global agency struggling to find a single software that works for all your branches? Procim allows you to setup multiple offices within a single site or across multiple sites while accommodating all multi-currency needs.
Procim is hosted on the cloud, facilitating company-wide collaboration. Teams can work on and build budgets together at the same time from different global locations by logging into their web-based Procim account. This means all users will always be working with the most up-to-date project and budget related information.
In Procim, you can build a budget and raise costs in any currency. Procim automatically manages multi-currency conversions. Control and manage exchange rates on an office or a project-by-project basis. Different exchange rates can be set for buying and selling, facilitating the use of a different currency exchange rate when charging your client from the rate when buying supplies.
Procim’s reports help you predict and analyse the possible financial impact of currency exchange rate fluctuations not only on your project, but also company-wide.
One Unified System
From the generation of client estimates through to project reconciliation, Procim is event budgeting software that understands the needs of agencies, providing benefits and enabling the automation of a whole range of common event agency processes.
Timesheets, resourcing, project management, billing and invoicing, reporting and a range of other project related activities are all managed. When you implement Procim, you’re implementing an end-to-end tool that will bring your entire agency into alignment and create clear visibility and structure across all levels.
It can be a struggle to keep tabs on everyone working at an event agency. Our event budget management software will help your agency grow by controlling and managing all budget and cost related activities from one, secure platform.
“I’ve been using Procim at two agencies in the ‘States since 2010. In both cases, this software has drastically changed the project management and business administration efficiency. Procim provides information that previously wasn’t tracked accurately or available in one place with such formidable reporting capability. In the latter case, our managing partner identified Procim as the reason we were able to manage our growth effectively and sell the business several years ahead of the proposed schedule. I would highly recommend Procim to anyone in the live event, video or marketing business: it will get your agency organized and help you grow!” - Marc Buchan, Director of Production, INVNT.
Book a demo today to find out how Procim can help your business grow.