November 12, 2001, Calgary, Canada – Replicon (https://www.replicon.com/), the world leader in web-based timesheet management software, announced today a software suite that for the first time gives professional service organizations a way to maximize profits by providing real-time visibility into the productivity of each employee. Replicon has extended the traditional capabilities of its market leading time and expense management software, Web Timesheet 4.0, with ProMax, providing the quantitative productivity information and analysis needed to measure and manage productivity, and resulting bottom line profits. This software enables professional services organizations to create and distribute Productivity Quotas (PQs) to each individual within the organization, and then measure the real-time PQ to optimize billable hours, compress billing cycles and manage overall corporate productivity.
"We conceived and developed ProMax based on our customers' driving need to better leverage workforce productivity information," said John Eddy, chief executive officer of Replicon. "We've learned that often it doesn't take great magic to transition a company's bottom line from loss to profit. It takes attention to the details that drive revenue, details like the billable hours of the employees and their status in delivering these hours on a consistent basis. Together, Web TimeSheet and ProMax provide the analytical and quantitative productivity data needed to maximize bottom line revenue goals."
ProMax offers staff and management quantitative, real-time productivity views and analysis to maximize profits and productivity. Managers can use ProMax to create and distribute PQs to each individual within the organization. It measures and reports the real-time PQ levels of individual workers, projects, departments and overall company productivity. By using PQs, companies can maximize profits by optimizing billable hours, compressing billing cycles and managing workforce productivity and performance. The software is easy to deploy (usually within two days), and can immediately begin collecting data and providing productivity views, resulting in a near-immediate product ROI.
"Individuals, managers and senior executives all need to understand that a focus on increased productivity throughout professional services organizations is the key to dramatic improvements in bottom line profitability," said Ray Mack, co-founder of Kenway Mack Slusarchuk Stewart LLP and President of the Institute of Chartered Accountants of Alberta. "Replicon's productivity software solutions help companies achieve greater success by creating an effective method to distribute productivity and revenue goals across individuals in an organization and make them accountable to the bottom line."
Web TimeSheet is the established market leader in automated timesheet management, with more than 500,000 global users at companies including HP, Compaq, AT&T Wireless, Sony Music and Charles Schwab. The product enforces proven timesheet and expense processes, collecting time and expense data more accurately and more efficiently than other timesheet software products. Web TimeSheet manages cash flow, monitors project profitability, compresses billing cycles and allocates chargebacks within a single solution. ProMax extends Web TimeSheet by providing real-time visibility into the productivity level of workers, departments and the overall company and aligning business priorities by distributing revenue goals, and direct accountability for them, to all individuals throughout the organization.
Replicon's productivity software solutions are available for purchase and easy downloading at Replicon's Web site at https://www.replicon.com/. Web TimeSheet 4.0 starts at $90 per user. ProMax pricing is based on "user packs" for the product and the number of Web TimeSheet users at a company starting at $2000.