An essential part of any time & expense management solution is that it provides a comprehensive set of standard management reports based on real time data. These reports should be focused on the key metrics you use to manage your business, such as: Detailed, Summary, Cross Tab & Graphical Reports Timesheet Exception Reports detailing missing … Read more
A well configured time and expense management solution should provide your organisation with comprehensive management information on the state of your organisations performance, common metrics which you can analyse include: Utilisation For organisations that charge for their resources time, understanding Chargeable Utilisation is an essential metric for measuring the health of the organisation. By focusing … Read more
One of the most important features in any time & expense management application is the approval mechanism. Approvals provide an audit-able trail of who agreed a particular timesheet entry or expense entry. If you are using the data to reclaim VAT or for any form of Tax credit your auditors will want to see evidence that these … Read more
In order to close the loop between your time & expense system and your company accounts the ability to integrate with your accounts package is essential. By integrating your time & expense system with your accounts package you can gain an instant view of profitability as well as retain pure accounting functions such as credit … Read more
An added benefit of time and expense management systems to professional service organisations is there integrated billing functionality. Most basic systems will offer the functionality to carry out time and materials based invoicing, with more complex solutions offering milestone, advanced and fixed price billing. An important point to bear in mind when evaluating this functionality … Read more
For many organisations, one of the key drivers for implementing a time & expense management solution is to aid the project management process. To do this a system must provide the basics; capture time, expenses, cost and revenue. In addition, many time and expense management applications also provide features specifically targeted at improving the project … Read more
Most timesheet software packages now offer expense management functionality as standard. Like the timesheet functionality, the expense management process should be simple and straight forward for the end user in order to promote ease of use and compliance. Unlike timesheets, expense management systems tend to manage themselves on the basis that if a user does … Read more
For organisations which re-charge their time and expenses onto their clients, it is essential that the solution you utilise provides you with the flexibility to mirror the way in which you charge. There are many methods in which companies charge, however, at a minimum a competent solution should offer: Resource/Role specific charge rates with the … Read more
An essential feature of any time and expense management solution is the ability to track and control all of your people and project costs. Systems that do not offer cost and revenue metrics will soon become outgrown and leave you resorting to Excel spreadsheets to carry out costing calculations. When measuring cost, look for a … Read more
It’s fair to say that there are a wide range of timesheet interfaces available through different solutions. Trying to compare and summarise the benefits of each would be a document in itself. The question is: if one timesheet interface works better for one user in one specific role and another for a user in a … Read more
