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Without enterprise timesheet management and expense reporting software your project-based business cannot effectively account for project costs, track budget versus actual, and analyze real-time reliable project time and cost information to make timely and sound business decisions.
Time and expense tracking challenges for project-based businesses include:
Some departments report work time for payroll processing and expenses for reimbursement; IT and product development teams use their own project tracking system and may capture project time and expense; the professional services team uses spreadsheets or a silo-ed time, expense and billing application; spreadsheet gymnastics, manual adjustments and merging is required to compile the data from these disparate systems into operational cost and revenue reports and project status.
Using spreadsheets or multiple disparate tools to track time and expense leads to inefficiencies, poor project status, cost/revenue visibility, and your management team does not have access to real-time report on projects and operations to measure progress and make informed decisions.
Legacy-outdated time tracking and expense reporting systems have high maintenance costs, ongoing fix and enhancement tasks, and divert precious internal resources as well as attention away from the organization’s core business.
Weak internal controls for time sheet and expense report tracking can lead to non-compliance with Sarbanes-Oxley, inaccurate cost accounting or violation of employment laws; your business may face severe penalties and lose investor confidence when such weaknesses are discovered.
Our configurable project time, leave time, overtime tracking, and expense reporting system allows you to effectively collect, manage and track timesheets and expense reports based on your requirements.
Tenrox time tracking and expense reporting has built-in connectors to your enterprise systems. No custom programming is required for standard integration. Data can be exchanged with leading systems for accounting (Great Plains, Sage ACCPAC, SAP Business One, QuickBooks), payroll (ADP, Ceridian, Paychex), ERP (SAP, Oracle, PeopleSoft), project management (Microsoft Project), CRM (Salesforce.com, Microsoft), HR, etc.
Click here to learn more about how Tenrox Time sheet helps you achieve and maintain compliance with regulations, standards and guidelines in your industry.
Tenrox On-demand is convenient alternative to implementing and maintaining Tenrox Timesheet in-house.
Tenrox time and expense tracking system tracks project time, helps you manage travel and entertainment expenses, eliminates payroll and billing imprecision, improves project and demand visibility, and reduces administrative overhead.
"Time Tracking and Expense Reporting Software" is part of the Tenrox PSA (Professional Services Automation) line of products, developed by Upland Software.