Webinar Recap: Ensure Accurate Project Time Tracking For WFH And Office Employees
Thanks to all that made it to this week’s webinar, whether you joined us from North America, India, Australia or the UK!
Our experts led a great session on tackling some of the most common challenges of managing a remote project team, followed by a Q&A session. 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. How much time does an organization actually have? 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.
- Today, time data is often separated into numerous silos: CRM, ERP, HR, project management, 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 low utilization rates, revenue leakages, invoicing errors, decreased profitability, and more.
- 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 also do not have these metrics calculated based on 100% of resource time ( most business just believe their billable hours are total hours which leads to inaccurate metrics)
- In light of coronavirus risks, an unprecedented number of employees have been forced to work from home. What qualities should you look for in a solution when considering the increased significance of remote and mobile project time tracking? You need a time tracking platform that offers:
- Intuitive Mobile Timesheets for Your Entire Workforce including remote workers. A user-friendly mobile time tracking app should provide time management on-the-go. Employees can track project time and managers can easily validate and approve timesheets anywhere, anytime.
- Accurate Project Time Tracking so that project resources can 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 instantly.
- Maximized Productivity and Utilization by enabling project and resource managers to understand skills, resource availability, and current utilization and set target billable hours to optimize future project allocations and billing.
- Powerful Analytics provide a graphical representation of your time and project metrics to help you understand trends. Configurable reports give you a consolidated view of the critical metrics to manage budgets, costs, and resources.
- Forecasting and Budgeting to help you price projects and build time estimates intelligently from the start by leveraging historical project hours, costs, and billing information.
- Seamless Integrations that allow you to plug and play, and share all project time data with other solutions within your ecosystem like CRM, Accounting, Invoicing, ERP, HR and Payroll.
Replicon customers use our comprehensive suite of products to manage a plethora of key business elements including labor costs, resource utilization, project tracking, and profitability to reduce billing errors, improve invoice turnaround, and more. Read more about some of our happy customers.
Watch the full presentation:
Top Questions:
Q: What tools develop the reports?
A: Reporting and analytics comes built-in to our platform. We also have an API for Business Intelligence that enables visualization of data in Tableau, Microsoft PowerBI or any other tool of your choice. The built-in reports are developed by everything users input into the system. It uses your raw data for different things like cost, billing, hours, schedules – and all of that will be included in the reports. You don’t have to do anything at all! All you have to do is run the report, and it will take all the info, translate everything neatly, and display accordingly.
Q: Is the system proprietary or open? Can we build our own reports? And can these be easily added to a list of reports available to the user?
A: Yes! Everything within Replicon is highly configurable, so you can create reports from scratch or adjust the ones we already have. Also, we support customers with an open services API. Whatever works best for you.
Q: Can this integrate with Microsoft Project?
A: Yes – we’re basically able to integrate with any part of your ecosystem (CRM, ERP, PM, HRMS, and more). You can utilize our pre-built connectors or leverage our web services API to build custom integrations based on your business needs.
Q: How is compliance handled within Replicon?
A: We actually have a team of legal and product experts that are manually tracking every single change in the global workforce. We have pay rules for over 80+ countries and 110+ locations including provinces and states. These get updated in real time, so any time there is a change, it gets updated in our platform. All you have to do to remain compliant is click a little box that says “Yes, I accept” and your compliance will be continued in that pay rule area.
