Time and Engagement Management (TEM)

Overview

Keeping track of billable hours and ensuring timely submission of timesheets is a critical business function. Accurate record keeping of the hours worked by contractors is necessary to invoice clients accurately. Late or missing timesheets can lead to delays in invoicing and payments. Additionally, tracking billable hours manually is time-consuming and prone to errors and can lead to discrepancies between the recorded hours and the actual time worked. Solving this problem requires an efficient and reliable system for collecting, tracking, and reporting on contractor hours and billable time.

Key Features & Functionality

• Submit & approve timesheets
• Add multiple engagements for seamless tracking across projects
• Scan client timesheets & analyze discrepencies between TEM and client hours reported
• Pipeline reporting, i.e. hours that are submitted but not yet approved
• View a list of all clients and contractors
• View client engagements, applications, and contacts on a summary page
• Create engagements in which custom timesheet frequency and reviewers can be defined
• Assign a team to an engagement, thus automatically assigning them timesheets and reminding them when they are due
• *New* Streamline invoicing by implementing a calendar report to track daily, weekly and monthly time spent on an engagement by team members

Benefits & Business Impact

To effectively manage projects and accurately bill clients, organizations must know how their employees and contractors are spending their time. This solution streamlines the timesheet process flow, allowing for seamless routing and monitoring among submitters, approvers, and finance team members. The application simplifies the identification of late and missing timesheets, and highlights discrepancies between hours reported within the application and in client timesheets. Users/submitters benefit from a clean interface, alerts and notifications, and granular reporting of activity across projects. Project managers have a consolidated view of how their human resources are deployed to manage staff schedules and workloads. The finance team will receive timely reports, tools to improve billing accuracy, and have insight into billable hours in the pipeline. Accounting members will be aware of any due timesheets and have a comprehensive calendar view with the working hours per engagement to facilitate the invoicing process.