Do most of your projects miss deadlines or go over budget? Do your project managers have a hard time managing …
If the global pandemic has taught businesses one thing, it’s that we needed digital transformation yesterday. The sudden rush to maintain businesses with remote or WFH employees, the uncertainty around how long this will continue, and how to accommodate the new normal is likely to keep business leaders like you awake at night. While there is no way to tell what future holds, you can do your part to future-proof your business with agile, digital transformation initiatives that don’t disrupt your carefully constructed processes.
This week’s webinar addressed how Replicon’s comprehensive platform can help you do exactly that. Thanks to all who joined us! Check out the recap below with our key takeaways and some top questions. If you’re looking for more details, you can click here to watch the recording of the full presentation.
- Time, one of our greatest strategic assets, is finite, and it filters into every single aspect of an organization. But how much time does an organization actually have? It depends on the user base. An organization with 500 employees will have 1,040,000 hours a year; 5,000 employees have around 10,400,000 hours; 50,000 employees will have a whopping 104,000,000. With this much time at your disposal, you need a way to understand how this time is being used.
- The trouble begins when time data is separated into numerous silos: CRM, ERP, HR, project management, on-premise databases, and more. Even more noticeable due to work-from-home changes, these disparate systems make it difficult to gain real visibility into 100% of an organization’s time, and consequently, understand true project profitability.
- This results in numerous time, costing, billing, and resource management challenges such as:
- Costing and billing delays and errors
- Low utilization rates
- Reduced planning capacity
- Inhibited future pipeline and growth
- Decreased profitability
- This is further complicated as different personas within the company use different metrics derived from employee time in many different ways – but have no reliable system of record for time, and don’t calculate this data based on 100% of resource time. Instead, many businesses just equate their billable hours to total hours, leading to inaccurate metrics.
- In order to effectively support the modernization and mobilization of legacy ERP and backend systems, organizations should seek out a flexible platform for project time tracking offering capabilities like:
- Cloud-based Project Time Tracking for project resources to see the exact projects and tasks they need to work on and are able to provide accurate inputs that directly tie into all other project metrics like costing, productivity, profits and more.
- Intuitive Mobile Timesheets in a user friendly mobile app that provides time management on-the-go so employees can track project time and managers can easily validate and approve timesheets anywhere, anytime.
- Real-time Estimates Vs. Actuals to set estimates for hours, costs and billing. Easily compare estimates vs. actuals in real-time using dynamic in-context summary charts and comprehensive graphs to take proactive decisions to manage project costs.
- Accurate Costing, Billing and Invoicing so that you can accurately manage project costs with inputs from your resources and leverage multiple templates, discounting, and add ad-hoc invoice lines included in our flexible invoicing engine to bill your fixed-bid, T&M or value-based projects.
- Enhanced Resource Productivity to enable your project managers to understand skills, resource allocation, and current utilization. Ensure high-value resources are mapped to high-revenue projects and ensure an overall reduction in non-project time for resources across the board.
- Advanced Analytics for providing a graphical representation of your project data to help you understand trends. Configurable reports give you a consolidated view of the critical metrics to manage budgets, costs, and resources.
- Seamless Integrations that allow you to plug and play our project time tracking platform and share all project time data with other solutions within your ecosystem like CRM, Accounting, Invoicing, ERP, HR and Payroll.
Q: How and when are estimates defined? Can they be defined at task, project or team member level? Is there any way to import them from another source?
A: Estimates are defined alongside the creation of projects and tasks, and can be defined at both the task and project level. Replicon can absolutely integrate with many tools that may contain project information, such as Microsoft Project or ERP systems.
Q: In order to use the mobile time entry, do you need an internet connection or can it be done offline?
A: Replicon was designed to include offline access. Employees can continue entering punches worry-free – everything will be automatically synced once internet access is available.
Q: Can Replicon integrate with SAP?
A: Yes! Replicon is open source and highly configurable, so we can connect with a ton of different accounting software including SAP, Oracle, ADP, Microsoft Dynamics/365, Quickbooks, Xero, FreshBooks, and more. For any more specific questions about integration, please feel free to get in touch. We’re here to help!