One of the most used sayings in business, and not only, is “time is money”. That might be true, but in order to organize time wisely, you have to know exactly how you spend it and for which aspects you need to allocate more or less time. The larger a company or a corporation is, the difficult it is to track the time spent by each employee on a certain project. It’s all about productivity, really. There are countless articles and tips on how to increase your company’s productivity, and the one thing that stands out in each of them is that in order to be productive, you have to know how to manage your time.
ExTreM Time Reports Management is a software created to track time by company, department, employee, project and activity and it also tracks non-work related time such as vacation, sick leave and office holiday. You can configure the company or companies you need to monitor and then the employees and the users of the software. The next step is to set up the departments of your companies and the department managers, so you have a starting point.
You can track the time spent on a task or project by each employee because you have different categories in which you can enter detailed information such as:
- hourly rate
- billing rate
- billing currency
All the rates above can be categorized by work week, weekends and holidays. The billing process becomes much easier because each time you add an employee to the list, the system will propose the hourly rate for the assigned category and you can accept it or change it manually.
Employees are also categorized by their status, if there are internal or external co-workers and you can also configure useful information for the HR department such as schedule hours, gender, classification in the company, the language used and primary contact details.
Each employee will have a time sheet summing up key-categories:
- default activity code
- supervisor company/manager
- contract and agency number (for external employees)
- hours per day (the number of hours assigned for each employee daily)
ExTreM Time Sheet keeps track on your company’s clients too after you have configured their basic information and contacts (address, phone number etc).
You can easily work with different currencies for billing purposes by entering the international currency code, the country and your base currency.
All the data found in Time Sheet can be exported to Excel in order to create reports or printing documents or if you need to send information to other departments, to your clients or to your supervisor.
Besides employees and clients, you can manage projects using detailed categories by job type, billing options, activity type, country or project manager. Basically, you can manage the evolution of each project your company is working on the time spent by each employee on that certain project.
Another aspect which is very important when it comes to billing matters is having a clear view of the people authorized to handle it. For each project or job, you can authorize the people who have the right to charge hours or to charge expenses, depending on the project type. The system users can be assigned special right of usage, which are: no access, read only (the person can’t do any changes) or write (the person has the right to do changes).
The system can be used to bill special activities, that are not already configured by simply using the “Special Activity” feature and the configuring the activity type and the billing rates. To simplify even more the process, projects can be grouped by line, meaning when you add a new project and you define it as belonging to an already existing line, you don’t need to configure the rest of the categories, because this is made automatically. You can make changes afterwards.
Time sheets stored in the system can be accessed by week, by month and by any period less than a month. This feature is very useful when revision is needed or when you have to do reports based on the data stored in the system.
Not only do you have time sheets for your employees, but you can monitor external people who worked on the project by pulling our reports which tell you how many people worked for your, from which agency, how many hours they worked and how much you have to pay hem.
ExTreM Time Sheet is useful both for employers and employees. Each employee can access their time sheet and can define a list of people who can replace them. Also, the hours worked and the billing rates are available for them too, so everything is done with transparency.
Over the years, time sheets proved themselves as being the best alternative for efficient time management solutions in large companies and corporations who work with thousands of employees. A system that helps you control how you spend your time on a project is an absolute necessity. Not only will it be an important tool to increase productivity, but it is helpful when monitoring the employees performance.