Release Notes: January - May 2022

May 2022

Artificial Intelligence

• Launched: Nova Insights
  Using Nova Insights, customers can get a quick, easy and understandable overview of how their projects are going and see where to take action. You can review your project's predicted end date, task performance, budget, and team focus in one single overview. Nova Insights is available for Pro and Plus customers.

Project Management

• Easier Collaboration with a Deeper Integration
  Keep yourself and your team updated on what’s relevant with the new Slack integration. Toggle on or off notifications in the Forecast app. Update your task and register time directly from Slack. This integration is available for all customers.
• Old Subtasks Converted to To-Dos
  Subtasks that weren’t converted into the new and improved structure have now been made into to-dos. This means the remaining time has been removed from the subtask. The time estimate will also be removed from its parent task, for customers with automatic remaining time calculation on this project. 

April 2022

Financial Management

• Closed Beta: Manual Revenue Recognition
  Manual revenue recognition is moving into Open Beta this month. This means all customers can try it out on the budget page and provide feedback. 
• New: Project priority field
  Add a custom priority field to your projects to filter and sort your projects based on their priority ranking (i.e. “low, medium, high” or “Priority 1 (P1), P2, P3, P4”, etc.). System users can use the priority filter in Projects Listing, Schedule Projects, and Project Portfolio Report (PPR). 
• New: "RAG Status Description" field
  Get a better understanding and report on project health using the RAG status description field in the PPR report. Find the field to the right of the colored circle denoting if the project is on Red, Amber, or Green, and provide context to the status. 

March 2022

Financial Management

• Closed Beta: Manual Revenue Recognition
  This is the next phase in enabling revenue recognition for all project types. Customers who like early access can get it by contacting their account manager.
• Launched: Revenue Recognition for fixed-price projects
  You can now reconcile your financials at a portfolio level and see how the monthly revenue has been distributed between the tasks for which time was entered that month. 

Project Management

• Schedule People in a Flash 
  We've made some performance improvements to the people scheduling page. The improvements have made the page faster to load and navigate. 

February 2022

Project Management

• Subtasks have been improved and restructured
  You can now create multiple tasks under a parent task and include assignees, timelines, time estimates, and to-dos. The estimated time for subtasks will be rolled up to the ‘parent’ task and be shown in your timeline. 

Financial Management

• Convert sales proposals into project plans instantly
  With Baseline, you can turn your sales proposals into project plans to model how the project you've pitched will impact your company's bottom line. 
• Recognize your revenue based on the percentage complete 
  With Revenue Recognition (launching 7.3.22) you can reconcile your financials at a portfolio level. It also gives you the ability to lock each passing month to ensure that your recognized revenue goes unchanged as your project progresses.

January 2022

Project Management

• Advanced Analytics goes live!
  Welcome to next-level business intelligence with Advanced Analytics. Create and customize reports with the data you want in the way you want it presented.
• Sharing of Reports coming soon
  We are in the discovery phase of allowing you to have the ability to share our in-product reports with external users.

Resource Management

• Skills and Labels are getting a revamp
  We are working to improve your ability to tag people with skills and to classify tasks or projects with labels. This will be coming to beta shortly.
• Resource Improvements
  We have worked on enhancing the stability and performance of Forecast and this month we have improved the invoicing overview page, the modal for creating invoicing, and the budget page.

Financial Management

• Revenue Recognition goes into Closed Beta
  

  With Forecast’s new Revenue recognition feature, you can recognize revenue on a monthly basis at a project level using the “percentage complete” method.  In turn, project revenue recognition numbers can then be rolled up to a company level, giving you an accurate month-by-month revenue report. You will also be able to see how the monthly revenue has been distributed between the tasks for which time was entered that month.

Artificial Intelligence

• Task Overrun Alert in Open Beta
  

  Task Overrun Alert is an AI-powered feature to help you keep an eye on tasks that may be at risk of taking longer than expected. Get a warning indicator for tasks that may be incorrectly estimated. See what similar tasks the AI model has considered to generate that warning, and you can adjust your estimates accordingly, or discard the prediction.

• Nova Insights goes into Closed Beta
  Nova Insights is your AI partner to give you a quick, easy, and understandable overview of how your projects are running. Review your predicted project end, task performance, budget, and team focus in one overview. Immediately see how each part of your project is faring with our traffic light system, and dive deeper into where you need to take action with our intelligent insights.