| XPERT TIME |
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Professional companies today are finding difficulty in managing their most important asset ie TIME. Time in essence is what professional ie lawyer, quantity surveyor, architect and so forth sells. That is why it is essential for them to have a proper record keeping of these information for analysis and billing purposes. In the early days these professionals are run by 1-2 people and their time are easily tracked. As business grows more staff are recruited and some of the staff have cross project ie a couple of staff will be working on the same project.
This presented a scenario that is difficult for the owner to manage as some of these time work on the project is either conveniently left out by staff or the failure to report it. The impact of these will be affected in the bottom line. Moreover professional firms are also beginning to incentify staff based on hours and type of worked that is done. Our studies with these professional firms is causing a lot of miscalculation and wrong billing in terms of time spent and activity of the work. In order to project a professional image to its client, our survey respondent have also requested an ideal system should be able to allow staff to input the time sheet even if there are not in office. This will help to reduce errors that are likely to happen when they manually compile these reports. Like most manual tasks, the traditional method of tracking and reporting time on paper or by dictation is inherently inefficient. There are 3 distinct ways in which this process costs companies monies. 1) Uncaptured or Underestimated Time A study conducted at the ALA Annual Education Conference in Apr 1992, found that lawyers who track their time carefully can generate between 20-40% more income than lawyer who don’t. The main difference between these 2 groups of lawyers is that the careful timekeepers record their time as they work. Recreating time at the end of the day or a week is an exercise in fiction. The studies further shows that even if they do record the time as they work, maintaining a complete and accurate record on paper isn’t easy especially when you work on several different matters and handle constant interruption. 2) Time Wasted Preparing Time Sheet The process of creating the timesheet itself also takes up valuable time. Most professional firm maintain some kind of scratch time log, probably on a sheet of paper divided in quarter hour increment. They then spend time at the end of the day calculating the total number of hours they worked on each matter. In effect they are preparing the time report twice, wasting valuable time on administrative task when they could and should be devoting them to profitable billable work. Xpert Time Sheet is a Web-native Professional Services Automation (PSA) suite of services that efficiently and economically streamlines business processes. Xpert Time Sheet allows professionals to build and submit proposal and submit time sheet, generate and approve expense report, track and bill time, create and deliver invoices. Time Sheets provides you with the easiest, most convenient way to manage attendance records. Create Time Sheet It's easy to create a Time Sheet, a simple and intuitive form that you fill out according to time type (regular time, vacation time, personal time, overtime, etc.). Turn Time Into Money Captured time may be marked as billable and flow into the billing module for invoicing. Manage More Effectively Approval of time and expenses in staffing services companies and firms with multiple levels of approvals can be a difficult process. Xpert Time Sheet new powerful and flexible approval process in our Time Sheets and Expense Reports services makes tracking this data simple and fast. |