Time management, it sounds so simple, yet it can be extremely cumbersome for an organization. Time tracking and reporting is often underestimated in its complexity causing organizations to throw away money and underutilize resources. For many organizations, time reporting and attendance is still a manual process resulting in payroll errors and less than desirable business results.
Capturing accurate time spent on project and work items is critical for making informed business decisions. It provides answers for important questions such as:
- What are we actually working on?
- How much should we bill our customer?
- How much are we investing in a project?
- Which of our current projects are losers that we should stop working on?
- Which of our current projects are winners that we should invest in?
- How much have we had to invest in similar projects in the past?
- What was the development effort value that we need to start depreciating?
- What resources will I need to complete a project like this?
- How long does it really take for us to complete a project like this?
- Which of our projects are profitable?
- Which of our customers are profitable?
- Where are the bottlenecks in our operations?
- How far off are our work estimates?
- How much should we pay each employee?
Implementing a single, intuitive time management tool that captures time and progress on any work item, including non-project or operational work, is essential for more accurate business results. Work Management tools, like EPM Live, provide time management capabilities helping users’ better track time against work. Specifically with EPM Live, these tools include:
- Capturing time on any project or work item
- Enter Work Status (% Complete) and Time in a Single View
- Capture time for multiple time categories
- Timesheet workflows for submissions and approvals
- Time reports, views and dashboards
- Work log to accurately track time on any work item
Learn more about EPM Live’s Time Management capabilities by watching these short videos.