{"id":16561,"date":"2022-06-20T14:14:23","date_gmt":"2022-06-20T04:14:23","guid":{"rendered":"https:\/\/totalsynergy.com\/?p=16561"},"modified":"2025-08-22T14:28:17","modified_gmt":"2025-08-22T04:28:17","slug":"synergy-product-update-june-2022-updates-to-budget-categories-revenue-forecasting-and-project-information-management","status":"publish","type":"post","link":"https:\/\/totalsynergy.com\/synergy-product-update-june-2022-updates-to-budget-categories-revenue-forecasting-and-project-information-management\/","title":{"rendered":"Synergy product update \u2013 June 2022 \u2013 Updates to budget categories, revenue forecasting and project information management"},"content":{"rendered":"\n<div style=\"padding:56.25% 0 0 0;position:relative;\"><iframe src=\"https:\/\/player.vimeo.com\/video\/722057207?h=af0bfa4abf&amp;badge=0&amp;autopause=0&amp;player_id=0&amp;app_id=58479\" frameborder=\"0\" allow=\"autoplay; fullscreen; picture-in-picture\" allowfullscreen style=\"position:absolute;top:0;left:0;width:100%;height:100%;\" title=\"Product Update &amp;ndash; June 2022\"><\/iframe><\/div><script src=\"https:\/\/player.vimeo.com\/api\/player.js\"><\/script>\n\n\n\n<div class=\"wp-block-columns is-layout-flex wp-container-core-columns-is-layout-9d6595d7 wp-block-columns-is-layout-flex\">\n<div class=\"wp-block-column is-layout-flow wp-block-column-is-layout-flow\">\n\n\n\n\n\n\n\t<div class=\"content-row row \" style=\"border-color: #ededed; background-color: #fff;\">\n\t\t<div class=\"row-bounds\">\n\t\t\t<div class=\"single ww \">\n\t\t\t\t<h3 id=\"h-subcontractor-management\"><span style=\"color: #333333;font-size: 18pt\">Subcontractor Management<\/span><\/h3>\n<h4 id=\"h-budget-categories\"><span style=\"color: #333333;font-size: 14pt\">Budget Categories<\/span><\/h4>\n<p><span style=\"color: #333333\">We understand that handling different subcontractors is essential for your daily projects, so we made significant budget planning and <a href=\"https:\/\/totalsynergy.com\/solutions\/forecast-revenue\/\">revenue forecasting<\/a> changes. You can set your stages budget line under work breakdown grouped into Internal Revenue\/Costs (your team), External Revenue\/Costs (such as contractors) and Expenses categories since our May update. It keeps track of individual areas and your gross <a href=\"https:\/\/totalsynergy.com\/solutions\/produce-budgets-quotes\/\">budget planning<\/a>.<\/span><\/p>\n<p><span style=\"color: #333333\">Multi categories are:<\/span><\/p>\n<ul>\n<li><span style=\"color: #333333\">Internals \u2013 are your internal team costs such as labour cost<\/span><\/li>\n<li><span style=\"color: #333333\">Sub-contractors (called Externals within Synergy) \u2013 are your external team costs, such as subcontractor and supplier cost<\/span><\/li>\n<li><span style=\"color: #333333\">Expenses &#8211; are any budgeted expenses you predict on the project, such as equipment purchases, office expenses and travel<\/span><\/li>\n<\/ul>\n<p><span style=\"color: #333333\">We make this grouping the default setting in the work breakdown template. However, you have the flexibility to change it back without categories in a simplified view. You have a new option in the \u2018More menu\u2019 (the ellipses) that can disable categories set. Or you can opt out of the multi categories by choosing a default setting for your organisation. Multi-category budget grouping is down to task level, so you can plan your project budget exhaustive to reflect the current situation. Synergy support printing the budget report with the multi categories. This budget report can assist you in identifying what parts are for subcontractors and what parts are for real profit, enabling you to control your company\u2019s profitability fully and not make a wrong business decision.<\/span><\/p>\n<h4 id=\"h-revenue-forecasting\"><span style=\"color: #333333;font-size: 14pt\">Revenue Forecasting<\/span><\/h4>\n<p><span style=\"color: #333333\">Discovering the accurate revenue distribution in forecasting can help plan your business strategies. Like handling multi budget categories, you enable filter the revenue of subcontractors in grouped into Internal Revenue\/Costs (your team), External Revenue\/Costs (such as contractors) and Expenses categories or summing up the Gross revenue. Budget planning and revenue forecasting link under the Synergy platform. You can now have the complete picture of your forecasted revenue based on your budget categories like contractors\u2019 revenue.<\/span><\/p>\n<p><span style=\"color: #333333\">We understand Internal Revenue will not only show the budget for internal categories, and it may include mark-ups if it is a difference between your budget and fee. We also facilitate printing the revenue report from the revenue forecast. You can create the filter on the page to generate a report to forecast your Internals, Externals or Expenses. This specifies data can let you know the actual profit that can help make the correct financial projections for business planning.<\/span><\/p>\n<h4 id=\"h-project-information-management\"><span style=\"color: #333333;font-size: 14pt\">Project Information Management<\/span><\/h4>\n<p><span style=\"color: #333333\">Project collaboration is critical for running your projects. We have made significant improvements in the functionality of Project Information Management. Synergy tidied up the Project menu, making it convenient for your daily operations.<\/span><\/p>\n<p><span style=\"color: #333333\">Correct document version is a key winning factor in executing a successful project. The third-party research indicates that around 10% of building costs for rebuilding are due to a wrong version of document use. Nobody is willing to be one of them to lose money. Using Synergy Project Information Management can help you solve this problem. Now you can delete the revision file if it has not been shared and replace it with a new revision. However, the delete action will be restricted if the file is transmitted to eliminate confusion. For easy management, the \u2018Attention to\u2019 and \u2018Sender\u2019 bookmarks expose to project document templates in this update release.<\/span><\/p>\n<p><span style=\"color: #333333\">Good news! Our Microsoft SharePoint integration is open to those Professional package subscribers. You can enable this add-on from your subscription page or chat with your Customer Success Manager anytime that fits your schedule.<\/span><\/p>\n<p><span style=\"color: #333333\">As your trusted business partner, we want to work with you to move your business to the next level to give you #MoreTimeForDesign.<\/span><\/p>\n<p><span style=\"color: #333333\">To learn more, don\u2019t hesitate to\u00a0<a style=\"color: #333333\" href=\"https:\/\/totalsynergy.com\/book-a-demo\/\">contact us<\/a>, and we will be glad to customise a solution for you.<\/span><\/p>\n\t\t\t<\/div>\n\t\t<\/div>\n\t<\/div>\n\n\n\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Nothing is more frustrating than your business delivering award winning designs only for budgeting and document revision inaccuracies to negatively impact the numbers. We get it and we are here to help with our June release.<\/p>\n","protected":false},"author":1,"featured_media":16576,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":true,"content-type":"","inline_featured_image":false,"footnotes":"","_links_to":"","_links_to_target":""},"categories":[4],"tags":[],"webinar-categories":[],"type-of-webinar":[],"industry":[],"region":[],"class_list":["post-16561","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-synergy-updates"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.6 (Yoast SEO v26.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Total Synergy&#039;s June 2022 updates<\/title>\n<meta name=\"description\" content=\"Nothing is more frustrating than budgeting and document revision inaccuracies to negatively impact the numbers.\" \/>\n<meta name=\"robots\" content=\"index, follow, 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