Deltek Maconomy Time and Expense Time Registration for Project Control and Profitability

Deltek Maconomy Time and Expense Time registration for project control and profitability

Accurate and timely registration of time Without accurate information, it is extremely Benefits For many Professional Services Organizations, difficult to understand project profitability, • SpeedSheet for quick and accurate registration of employees’ to ensure consistent billing, maximize staff accurate and quick time capture timesheets is a key factor in the ability to optimise utilization, and accurately forecast revenue, project and resource management, manage costs all of which are critical factors in running a • Easy access to the SpeedSheet via and drive profitable behaviour. professional services company and marketing Single Sign On and a Being able to quickly and easily capture the communications organisation. Maconomy icon in the time your employees use on scheduled, as well PC system tray or Mac as odd jobs during the day – replying to e-mails Introducing the Time – on Time concept menu bar and answering calls from customers, day-to-day Getting employees to submit accurate time • Mobile Speed Sheet for visits and other short-term services – is crucial for entries remains a challenge. There are probably as mobile phones increasing the number of hours being accounted many reasons for delayed timesheets as there are • Personal Favorites for for and subsequently invoiced. employees supposed to submit timesheets. quick and easy time entry “Time is money” may be an over-used One reason for low quality time capture is the expression, but when a company’s existence fact that many employees tend to submit their • Favorite management enabling easy is based on providing timebased services, time time at the last moment. At that point, time will distribution of tracking becomes vital to overall profitability. certainly be entered swiftly – but not necessarily registration information For this reason, time tracking is the right place very accurately. from Managers and to start for any business that is looking to reap Deltek Maconomy’s Time – on Time concept Project Managers to employees the benefits of automating, streamlining and is about capturing time immediately after the optimizing its business processes. After all, service has been delivered – not at the end of the • Time – on Hold! The ability to handle employees’ time is the most important source week when only the broad picture remains. The incomplete time of income, and within the service industry, being result: when the time entered is accurate, more entries without job or able to track time on individual jobs and projects is time becomes invoiceable because employees task number via notes essential to managing profitability. have a tendency to register more time on • Postponing These days, managers are required to provide internal jobs when they are uncertain–or cannot completion of entry greater visibility and effective internal controls and remember–how many hours they spent working until submission of timesheet are fast realizing that a real-time business view is on a particular job on a particular day. Also, the a necessity. Achieving this view may be easier said Finance department can eliminate time spent on than done as businesses seldom possess the right correcting registration errors and sending credit processes and infrastructure to make the most of notes to the customer. time resources.

1 deltek.com World Headquarters: Prompt approval of time Evaluation of work in progress United States There are two types of approval available in When time is registered on a project or job task, 2291 Wood Oak Drive Maconomy–Supervisor approval and Project/ it is visible across all modules in Maconomy. This Herndon, VA 20171-2823 Job manager approval. Typically, the employee’s way, Maconomy’s fully integrated solution helps 800.456.2009 Supervisor monitors the number of hours worked you improve progress management by bringing and the number of holidays, sick days or overtime together all your business processes in one Worldwide Locations: hours and approves the timesheet from an overall solution. Managers have online access to real-time Australia weekly level. The individual timesheet lines may reports and can drill into revenue and profit details +61 8 8112 1200 also require approval by the Project/Job Manager. by company, business unit, client, project, job, Depending on the configuration and approval employee, etc. Also, the employee can register Belgium requirements specified, the Supervisor is notified Estimate Time to Completion when entering time. +32 (0) 2 709 2191 that there are timesheets awaiting approval as soon as the employee has submitted a timesheet. Time can be invoiced immediately upon Denmark registration +45 35 27 79 00 Supervisor approval The Maconomy Timesheet enables staff to Supervisor approval can be carried out at one of register their hours anywhere, anytime. Once The Netherlands two levels. The Supervisor can approve all time the employee has entered the required number +31 (0)20 347 3080 based on summary information. In this case, the of hours, the timesheet can be submitted for Supervisor would be presented with a color- invoicing (with or without being approved first). A Norway coded chart showing a summary of external and standard workflow is set up in Maconomy ensuring +47 22 01 38 00 total hours per week for each of their employees. that the relevant Managers are notified about the Alternatively, the Supervisor can drill down to view timesheets awaiting their approval. By automating Sweden the details on a timesheet by timesheet basis. the entire workflow, you can be sure that no hours +46 (0)8 587 077 00 are ‘lost’ because of inadequate registrations. Project/Job Manager approval United Kingdom The Project/Job Manager’s approval represents Improve your cash flow by accelerating the London acceptance of the time charged to the project. A invoicing process +44 (0)20 7518 5010 To Do notifies the Project/Job Manager time has Automating the workflow from the point when been registered on his/her projects. By drilling your employees enter an hour in Maconomy to down, the Project/Job Manager can view the the time that hour is invoiced is the most effective detail of the timesheet lines related to a specific way to free your tied-up working capital. This will deltek.com project and can choose to accept or reject them. have a direct impact on your company’s cash [email protected] Rejected time is returned to the employee as a To flow. With Maconomy, Managers always have a Do with comments. complete overview of their company’s financial status. Furthermore, the solution supports decentralization of the invoicing process to the individual Manager, enabling businesses to reduce the time from incurring costs to invoicing them.

Deltek (Nasdaq: PROJ) is the leading global provider of enterprise software and information solutions for professional services firms and government contractors. For decades, we have delivered actionable insight that empowers our customers to unlock their business potential. Over 14,500 organizations and 1.8 million users in approximately 80 countries around the world rely on Deltek to research and identify opportunities, win new business, optimize resources, streamline operations, and deliver more profitable projects. Deltek – Know more. Do more.® deltek.com