How EFAMT® Works
It is each partner’s responsibility to make sure that the project budget is being spent for the activities as it was planned, within the time frame and to report for costs and time spent on the project.
As a project partner, on one hand you have to manage your project staff, and on the other hand you have to periodically report to the project coordinator.
Whether you already have an internal accountancy systems for financial management or not, with EFAMT® you will satisfy the rules of Horizon 2020 projects without special effort. With its timesheets and invoice tracking, EFAMT® enables you to manage your finances in a way that can easily secure all the approved funds and make your reports on time. Track your staff work hours in detail or on a summary level and record your project costs in your national currency.
EFAMT® automatically gathers and calculates your project data and creates financial progress reports that the coordinator of your project requires. It all happens by itself, you don’t have to do anything. No more compiling periodical work hour and cost reports, no more making sure the data adds up, no more sending the data by e-mail and having to correct it through several iterations. You just do the actual work on the project and EFAMT® will take care of the financial and administrative work for you.
As a coordinator you have a hard task managing all the project partners and ensuring the financial reports are correct and invoices are tracked. With EFAMT® you will be able to monitor all project resources and ensure that all project partners provide correct data and their reports on time.
There are several issues coordinators have to deal with when managing H2020 projects:
EFAMT® is a clever internet application for you and your project partners to easily manage all costs related to the project. It simplifies the preparation of financial reports and allows you to keep the project under control.