Time-tracking Software Helps Obopay Take the Guesswork out of Project Costs
San Mateo, CA, April 14, 2011 – Obopay, the creator of the first comprehensive mobile payment service in the United States, has implemented Replicon’s Web TimeSheet to bring greater accuracy to its cost analysis and client billing processes.
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Web TimeSheet is a Software-as-a-Service (SaaS) system that enables Obopay to track staff time against projects, compare expected revenue with actual costs, and generate customized reports in real-time. Since implementing the system in 2008, Obopay has significantly improved its visibility into project costs, resulting in highly accurate data to support its accounting figures.
“Before using Web TimeSheet, estimating how long projects were going to take was a little bit like throwing darts at a dart board,” said Brett Dyer, Controller for Obopay. “With this software we can see what we have spent on projects so that we can budget and forecast more accurately going forward.”
Obopay lacked an efficient system for tracking project hours. Without precise reporting, it became increasingly difficult for the company to estimate how long a project would take and what the cost would be to their clients. Plus, as the company grew, it faced stricter internal accounting requirements, making it critical to find a more accurate way to track time. With locations in the United States and India, Obopay also needed a web-based system so that employees could easily enter their hours from anywhere in the world. They chose Replicon’s Web TimeSheet for its ease of use, integration capabilities, and its ability to grow with the company.
“Replicon Web TimeSheet was going to give us the information we needed on a project-by-project basis and the timesheet entry seemed fairly straightforward and easy to teach to staff,” said Dyer. “It was also easily expandable. We certainly had to add users over time. We started with 40 licenses and we now have over 300.”
In August 2008, Obopay began using Web TimeSheet, and both the company and its partners have benefited. Accurate time tracking lets Obopay see exactly how much time is spent on projects in each department.
On the billing side, Obopay accurately invoices its partners for development work, because the data is based on the exact amount of time that has been tracked in the system. This not only provides more peace of mind to partners, but also enables Obopay to comply with its own billing requirements.
“Accurate project data is fundamental to the success of any business, and Obopay recognized that,” said Raj Narayanaswamy, Co-CEO of Replicon. “Web TimeSheet enables Obopay to meet its own budgeting and reporting requirements, while also providing their partners with the most accurate accounting of all hours spent on a project.”
Using Web Timesheet’s cost-estimating tools, Obopay is also better able to forecast the costs of future projects based on previous data entered into the system. Though Obopay uses cost analysis reports primarily for accounting compliance purposes, the company has also begun using Web TimeSheet to estimate how much new projects will cost and how long they’ll take to complete.
Founded in 2005, Obopay, Inc (obopay.com) offers mobile money services that transform any mobile phone into a convenient and easy way to send and receive money, get paid or pay small businesses, top-up accounts, buy via mobile and pay bills. Obopay’s mobile money services address the needs of consumers and businesses around the world by providing a service that delivers value, empowers lives and improves opportunity for merchants. Obopay believes the power is in the network and has established partnerships that include Nokia, MasterCard, AT&T, Verizon, Essar, Union Bank of India, Yes Bank in India, Blackberry and Societé Generale. The company’s offering enables partner-branded mobile money services that financial services and mobile partners can implement quickly at low deployment cost. Obopay has its corporate headquarters in Redwood City, CA.