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Organizations worldwide are experiencing a sea change as new developments continue to affect processes, infrastructures, and workplaces on virtually every level. While employees continue telecommuting indefinitely, businesses are entirely dependent on their ecosystems to enable their remote workforce while ensuring process adherence. Project time tracking is one such critical process that directly affects costs, billing and revenues. Modernizing and mobilizing project time tracking helps businesses uncover hidden efficiencies and profits.
This week’s webinar discussed how Replicon can help businesses capitalize on those hidden efficiencies. A hearty thank you to everyone across the globe 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. Once it’s used up, it’s gone forever.
- But how much time does an organization actually have? It depends on the size. An organization with 500 employees will have 1,040,000 hours a year; 5,000 employees have around 10.4 million hours; 50,000 employees will have a staggering 104 million. This much time can’t risk going untracked or misconstrued.
- The trouble begins when time data is separated into numerous silos: CRM, ERP, payroll, project management, on-premise databases, and more – and not every piece fits neatly into the puzzle.
- Even more noticeable due to work-from-home changes, these fragmented systems make it difficult to gain real visibility into 100% of an organization’s time, especially when there are employees working from home and contending with on-premise databases and hardware.
- Services businesses wind up facing a myriad of challenges, such as:
- Costing and billing delays and errors
- Low utilization rates
- Reduced planning capacity
- Inhibited future pipeline and growth
- Decreased profitability
- But the complications don’t stop there. Different roles (e.g. finance, operations, delivery, and more) within the company use different metrics derived from employee time in many different ways – but have no consistent, single source of truth for time. Instead, each business leader looking for quick data will interpret the results differently, creating inaccurate, contradictory metrics.
- Replicon’s cloud and mobile-first project time tracking platform empowers businesses with advanced capabilities like:
- Accurate Project Time Tracking as 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.
- Intuitive Mobile Timesheets for you and your employees to enable time tracking, approvals, and expense tracking on-the-go with advanced capabilities like geo-fencing, GPS tracking, crew timesheets, Face ID and more.
- Estimates Vs. Actuals Tracking so that you can set estimates for costs, hours, and billing. Easily compare estimates vs. actuals in real-time using dynamic in-context summary charts and comprehensive dashboards to make proactive decisions and manage business metrics.
- Improved Billable Hours & Utilization can help business leaders map revenues to billable hours and set utilization targets at the organization, department, and user level. This added visibility enables resources to be aware of their billable targets, take more responsibility for billing, and improve average revenue per resource.
- Accurate Billing and Invoicing so that you can manage fixed-bid, T&M or value-based projects. 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 with confidence every time.
- Project Forecasting and Budgeting allows you to plan for future resource needs with full visibility into the project pipeline, resources, and skill requirements. Leverage historical information to more accurately predict resource needs for a project while bidding. Analyze resource availability by skillset to proactively hire or retrain resources.
- Powerful Analytics that can provide a graphical representation of your project data and all other business metrics to help you understand trends. Configurable reports give you a consolidated view to easily 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 the other solutions in your ecosystem, like CRM, Accounting, Invoicing, ERP, HR and Payroll.
Q: Can I do shift planning for a team – and import actual hours worked to match against the planned hours?
A: Yes. Supervisors and administrators can easily set up standard shifts, defining when the shifts start, end, and require breaks or meals. With Replicon’s comprehensive reporting, schedule managers can review whether employees were on time for their shift and see if they worked their full scheduled hours.
Q: Does Replicon integrate with accounting software like Quickbooks?
A: Yes! Replicon is open source and highly configurable, so we can connect with a ton of different accounting software including Quickbooks. For any more specific questions about integration, please feel free to get in touch. We’re here to help!
Q: Can we try Replicon before we buy it?
A: Absolutely! In fact, if you get in touch with us, we can create a customized demo just for your organization so you can see exactly how it would work. Then you can work with one of our team members to show you the ropes. After that, you’ll have free reign to explore everything Replicon has to offer.