While simple, timesheets are often the source of multiple pain points for professional services firms. Time entry, gathering all timesheets on time, approvals … all these elements too often cause issues. Not to mention the calculation of billable hours!
However, a timesheet integrated to projects and financials offers several features that can facilitate the daily tasks of everyone across your professional services firm. Here are a few benefits of an integrated timesheet for various users:
For employees
One of the first features to look for is access to a web-based timesheet. This will let employees access their timesheet via the device of their choice.
Moreover, the project selection should be as simple as possible: users shouldn’t be required to know whether their hours are billable or not and at which rate. This means they can simply enter their hours in the right project line without having to choose the rates as these will be automatically calculated based on the project configurations in the financial system.
Users should also be able review and manage their hours and vacation banks without having to request the information from the administrative team. They can also submit leave requests directly from the application, and those can be approved by their manager easily.
For managers
Notifications and reminders can be set up to avoid delays and make sure that all employee timesheets are received on time. As a result, managers don’t have to spend as much time gathering the timesheets of their team.
Thanks to the integration to projects, project managers can also obtain the detail of billable hours as soon as they are entered into the timesheet. Lastly, the multiple-approval feature lets both project managers and direct supervisors approve project lines assigned to them within the same timesheet.
For the administrative team
An integrated timesheet greatly reduces the number of requests made to the administrative team as well as the number of manual entries. Indeed, self-service access to hours banks eliminate the need for employees to request this information. Moreover, the calculation of rates, taxes, and currencies is automated both in the timesheet and expense report.
Lastly, employees can include attachments and comments to their timesheets and expense reports, which can then be transferred to clients if necessary.
Here are just a few ways a timesheet integrated to projects and finances can help the members of your professional services firms to complete their daily activities quickly and efficiently. To learn more, read our article What Makes a Good Timesheet for Professional Services Firms? or find out more about our TEDI Time and Expenses module.
