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KEY FEATURES > |
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- Powerful project costing
system
triple rating system simultaneously tracks internal cost rates,
external charge rates as well as billing rates
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Flexible structure unlimited rates
by any combination of customer, project, employee, employee role, project,
task, date
- When only the best will
do
if you want to charge one way, but your system only lets you charge a
different way, you need to compromise... your customers are not going to accept
being charged more because your system doesn't allow it and you don't want to
charge less than you can - the best thing is to be able to charge
exactly the way you need to.
- Triple Burn rate
provides
ability to simultaneously view burn rate in hours, costs and billing: %age of
time used, %age of costs spent, %age of billing raised for accurate
project
costing
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Freedom With , you have the freedom
to do it your way: you can have a different rate for each customer, each
project, each employee for a project, a different rate for each person for each
project depending upon what they do on the project and when they do it....
although you are unlikely to use all of the power and flexibility that exists
in Time®&Money, the flexibility is there for you
when you need it, so you can charge what you need to charge without making any
compromises to your rates....
- Historically accurate
complete history of rates is maintained allowing you to enter future
rates as well as review historical chances as well as guarantee historical
records and accuracy
- Powerful reporting
triple
rating system allows you to report upon project costs, recharges, billing
history as well as combinations: profitability, billability, under / over
recovery etc. by project, project task, employee, customer, employee by
project, by task, by customer etc.
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Timewatch® Project
Costing solutions
We've all heard the old adage "by
watching the pennies the dollars (and pounds) take care of themselves", yet
time and again we find that organizations have to make compromises and modify
their rates because of limitations in the software they use - which ultimately
leads to them setting their rates lower than they should.
We see situations where the software
organizations use limits them to a handful of rates (just 5 rates per person is
strangely common). Similarly most systems do not hold rates by date, they are
fixed in time, yet in the real world companies need to change their rates from
month-to-month, year to year, by customer or project, by the employee
performing the work, the employee's role on a project or the work they were
doing - and often the rates you need to charge involve a combination of these
variables.
We've worked hard to develop product
that shatters these limits so that you are free to set your rates the way you
work. Whether you have rates specific to a customer, a project, the person
doing the work, what they are doing, the date they do the work or a mixture of
any of these, you can. Timewatch offer two solutions, from our on-premises
Time®&Money
solution to our hosted Time&Space® solution,
there is something for everyone. |
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Triple Time Rating
System All Timewatch® solutions provide
three rating systems to help you value and understand the time |
spent on a project, costs vs
charging and what you actually bill to a customer.
The cost rate values the cost of your
employees' time, the charge rate values the time that could be billed and the
billing rate logs the value that was billed to the customer.
Even if you operate on a fixed price
basis, the rating system allows you to analyze profitability, you can compare
what you billed to what you could have billed if the project were a time &
materials project. |
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 >Project costing, charging and billing rate
build up. |
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Reporting With powerful costing and
charging you need powerful reporting, and CentralTime®, Time®&Money and
Time&Space® do not disappoint. You can report
upon all three rating valuations simultaneously through our active drill downs,
standard reports, custom reports and our dashboards. See the
section on reporting for
full details. |
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Summary Our triple rating system and
flexible charge rate rules allow you to support literally any project costing
and charging structure and billing allows you to generate invoices direct from
your projects utilizing the time and expenses or fixed price schedules. Once
converted to money, these transactions can also be posted to your financial
accounting solution. If you would like to discuss your costing and charging
needs, please do not hesitate to contact us. |
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