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- Powerful, rating
system
triple rating system simultaneously tracks internal cost rates,
external charge rates as well as billing rates
- Flexible
structure
unlimited rates by any combination of customer, project,
employee, employee role, project, task, date
- When only the best will
do
if you want to charge one way, but your system only lets you charge a
different way, you need to compromise... your customers are not going to accept
being charged more because your system doesn't allow it and you don't want to
charge less than you can - the best thing is to be able to charge exactly the
way you need to.
- Freedom
With
Time&Space®, you have the freedom to do it
your way: you can have a different rate for each customer, each project, each
employee for a project, a different rate for each person for each project
depending upon what they do on the project and when they do it.... although you
are unlikely to use all of the power and flexibility that exists in
Time&Space®, the flexibility is there for you
when you need it, so you can charge what you need to charge without making any
compromises to your rates....
- Historically accurate
complete history of rates is maintained allowing you to enter future
rates as well as review historical changes and, in addition guarantee
historical records and accuracy
- Powerful reporting
triple
rating system allows you to report upon costs, recharges, billing history as
well as combinations: profitability, billability, under / over recovery etc. by
project, project task, employee, customer, employee by project, by task, by
customer etc.
- Triple Burn rate
provides
ability to simultaneously view burn rate in hours, costs and billing: %age of
time used, %age of costs spent, %age of billing raised
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Time&Space® -
Costing, Charging & Billing
We've all heard that by watching the
pennies the dollars (and pounds) take care of themselves, and this we feel
perfectly describes Time&Space® as it
provides a completely structured approach to billing projects, ensuring you can
analyze, control and bill every transaction. |
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Control starts with the ability to set
your charge out rates at the exact rates you have agreed to charge your
customers. This might seem obvious, yet we often find that the software
organizations use limits them to a handful of rates.
Worse still, most systems don't
remember how rates change over time, they are fixed in time so you cannot
change one rate for one project this week and another next month, they all need
to be done at the same time, yet in the real world companies need to change
their rates whenever needs dictate. What if you need specific rates by project,
by customer, by the employee performing the work or the job they were doing?
Often the limits don't stop there.
With Time&Space® we've worked hard to deliver a product
that shatters these limits so that you are free to set your rates the way you
work, after all, a compromise of just $1 in an hourly rate adds up to a loss of
around $2,000 per person per year. Whether you have rates specific to a
customer, a project, the person doing the work, what they are doing, the date
they do the work or a mixture of any of these, with Time&Space® you can set your rates exactly.
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Triple Time Rating
System
Time&Space® provides three
parallel rating systems to help you value and understand the |
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time spent on a project, costs vs.
charging and what you actually bill to a customer.
The cost rate values the cost of your
employees' time, the charge rate values the time that could be billed and the
billing rate logs the value that was billed to the customer.
Even if you operate on a fixed price
basis, the rating systems allow you to analyze profitability, you can compare
what you billed to what you could have billed if the project were a time &
materials project. |
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Cost , charge and
billing rate build up. |
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Reporting
With powerful costing and
charging you need powerful reporting, and Time&Space® will not disappoint. You can report
upon all three rating valuations simultaneously through our active drill downs,
standard reports, custom reports and our dashboards. See the
section on reporting for
full details. |
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Producing Invoices
The
process of streamlining the billing process begins with the preparation of
suggested drafts - here Time&Space® reviews
timesheets, expenses and material costs and your project rules to "suggest"
items to be billed. Of course you can review and edit suggested drafts as well
as create your own drafts, but the suggestion process takes most of the manual
work and time out of preparing invoices for production. |
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Wherever amendments are required,
the system keeps track of who made them, when, why and exactly what the
amendments were should you ever need to revisit them, reverse them or report on
them later.
Preparation of invoices is simple and easy too,
you can enter text through a built-in Word Processor with full formatting and
spell checking, and once a draft has been finalized, billing users can print
invoices using templates you configure to match the layout you and your
customers require.
As you'd expect, security is
definable within billing, so you can control who has access to which areas of
billing and |
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Built in word processor and spell checker for
invoices |
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you can define your own levels of
authorization, separating those that can produce drafts, amend them, finalize
them and bill them. |
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Invoice Formatting Options
Time&Space® comes loaded with a variety of
standard invoice templates which you can personalize. You set your address,
payment terms etc. and can even upload your own company logo - there is even a
spell checker built in.
Invoices can be printed, exported, saved as PDF
as well as emailed.
If you find you need a specific invoice template
in a specific format, these can be created for you as requested. |
Invoice formatted automatically within
MS-Word |
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Summary
Time&Space® triple rating system and flexible
charge rate rules allow you to support literally any project charging structure
and billing allows you to generate invoices direct from your projects utilizing
the time and expenses or fixed price schedules.
Not only can you streamline billing with
Time&Space®, billing accuracy is increased,
delays to production of invoices reduced which both increases your billings and
improves cash flow through faster billing - benefits that often pay for your
system in months.
If you'd like to discuss your requirements and
see how Time&Space® can benefit your
organization, please do not hesitate to
contact us. |
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Demos
See the
demos page for a video
overview of billing. |
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