Control project profitability, monitor team utilization and each employee's commitment, and use a strategic resource plan.
Engineering requires highly professional and highly paid specialists. This is why it is so important to track time in detail, break down direct labor costs by project in order to evaluate the cost effectiveness of each project, and monitor the utilization of each team member.
Timetta helps you track time using timesheets without unnecessary pressure and excessive control over your employees. Timesheets approval process featured with customizable validation routes improving the quality of time-tracking. Direct labor costs per project are automatically generated, providing a P&L for each project.
In addition to recording actual hours and costs, Timetta will allow you to perform resource allocation on each project to estimate budgets. It also helps you create an overall team allocation plan between projects and a make long-term evaluation of staffing needs.
Timetta is a simple and smart engineering solution that allows you to improve agility in a highly competitive market and help you take control of key performance metrics.
Time-tracking is performed using flexible and customizable timesheets. Validation rules help to avoid filling errors, as well as an advanced timesheet approval process.
Each time entry is provided with a detailed comment, which improves the quality of time-tracking and simplifies management and client approvals.
The timesheet immediately shows the utilization of the employee for the period, and allows you to keep the most important metric under control.
Resource allocation increases utilization through optimal resource allocation and reconcile scheduling conflicts, which is especially important when your team works on multiple projects at the same time.
Project resource plans allow you to book the project team and immediately figure out the planned direct labor costs, it gives you control over the financial performance.
Team utilization is extremely important In consulting business, which is why the resource management is aimed at achieving its sustainably high level. At the same time excessive utilization is controlled in order to prevent burnout and professional degradation of qualified personnel.
A budget is created for each project, with labor costs generated automatically based on the resource plan. You can also put in the budget plan different types of revenues and expenses.
You can track the performance of your financial plan using the earned value method or manually by reflecting revenue and expense recognition transactions.
A user-friendly P&L report will show budgeted, actual, and even forecasted financials with breakdowns by line item and month.
Keep all metrics under control with visual dashboards and comprehensive analytics reports. A set of data sources with hundreds of metrics is available so that every aspect of your business is understandable and predictable.
Timetta includes a dashboard and report builder, it also supports creation of additional calculated field.
If required, data can be connected to external BI systems or exported to Excel.
Timetta is an easy-to-use, cloud-native solution built specifically for consulting business. There is no need to refine systems that are not designed for this purpose, wasting your time and money.
Timetta is an accounting and analytical solution, it does not replace task management and teamwork systems, but complements them, serving its purposes well — time-tracking resource management, project economy, and customer billing
More than 120 employees at the ALTHAUS investment consulting group are successfully using Timetta to track working time. The company implemented Timetta in order to evaluate the efficiency of its employees and the marginality of its projects.
User-friendly interface, cloud storage solutions, and incredible functionality allowed implementation of the entire solution for their commercial operation in the shortest possible time.
MEF PKF has been using Timetta for exactly a year. It took two weeks to start the system, and now it has more than fifty employees. Of course, the accounting of working hours, planning of loading and project management were carried out earlier, without this the normal work of the audit and consulting company is impossible, however after the implementation of the system we reached a new level.
Today, the leaders of our company see all projects in dynamics, and the consolidation of data and analysis of the results of operations of the divisions and the company as a whole takes much less time. This is especially true for long-term and multi-stage consulting projects, where we monitor incoming requests and allocate our resources depending on client activity.
Thus, Timetta allows us to evaluate projects, employees, and customers from different angles and be even more efficient.
