Costing & Pricing Tool
Costing & Pricing Tool
Finding the real cost and value of research to both the funder and the university can be complex and time-consuming.
Managing multiple projects, funder guidelines, providers on different payment structures, varying time frames, changing suppliers, different dates, times and currencies requires a dynamic and powerful management tool.
- Set requirements for specific funders, which can be stored and recalled to apply across different applications
- Enter complex costing formulae once and apply them across multiple applications, obviating the need to manually look up and copy the correct formula
- API integration with existing internal systems ensures information used in the funding applications is up-to-date, and the approved resource and funding allocation is readily available in real-time
- Varying permissions safeguard data privacy by ensuring that only the correct personnel have access to stored information; this also means that researchers with permissions can access and check their progress against the funds allocated to them, outside of regular review
- Funding agreements involving international funding agencies and projects that have multiple funders are fully supported, enabling administrators to understand at a glance the provenance and expenditure of research funds
- Invisible costs can be accounted for, such as overheads, consumables, legal services, CPI-linked personnel cost changes and others—in accordance with specific rules and limitations set forth by funding agencies
- Create validation rules for information entered into forms; data that doesn’t meet the parameters set by the administrative office can be flagged automatically for review
- A single source of data truth keeps information up to date without double- or triple-handling
ResearchMaster’s Project Costing and Pricing Management Solution allows researchers to determine the project cost and price based on individual funding guidelines. It is a fully integrated web-based costing and pricing tool designed for researchers. This powerful system can deliver:
- The ability to refine and manage changes throughout the life of a project through recasting and auditing,
- Minimal data entry through integrated forms and finance systems,
- Maximum accuracy by applying pre-configured funding rules, salary rates and indexation,
- Depending on configuration, can allow for variances at project and fund source level.