One of Exact Online’s newest solutions, currently in controlled release, is the time registration and invoicing solution and it offers all the above and more. You can read more about the solution in the blog post from Robert Huberts. In addition to all costs and invoices being directly booked on the correct general ledgers for financial reporting, the solution can also be used internally for time registration only – just like we’re doing within several of our teams here at Exact!
Our finance and administration department highlighted a need for better insight into time spent by teams on current and future projects. Luckily, we knew just the tool to provide them with the information they needed!
The requirements for this time registration were simple:
- Everyone in the team must register their own time based on a 40-hour work week
- No need for budgeting hours upfront (at least not for this purpose)
- Time spent must be registered on projects
- Time registration must be split up based on activities like Development, Testing, Designing, Vacation, etc.
- Finance and administration must be able to retrieve monthly reports which provide insight in time spent on projects/activities/employees
- Must be user friendly (registering time is never anyone’s favorite activity – it should be as easy and as quick as is possible).
Although several other tools (amongst others Excel, Exact Synergy Enterprise) could fit the requirements, we decided to go for the Exact Online solution – in effect becoming our own controlled release customer!
It seemed the perfect choice for several reasons. Being online, everyone has access to it from any location. Furthermore, the time registration is based on hours and not periods of time. It’s easy to make the entries, either in daily or weekly fashion – just fill in project, activity and the hours for the various days displayed and save. Its reporting function also ideally met the requirements of our finance department.
We have been using Exact Online time registration since the beginning of May and, although some suggestions have come forward, it is working brilliantly. Entering hours for a day or a week is literally a matter of minutes.
The main challenge we have to overcome currently is to remind everyone in the team to actually fill in their hours! To be fair though, almost 90% of us are doing this on time, which is great! And providing reports to finance and administration is almost over now – they will have their own access to Time & Billing soon where they can do their own reporting.
To conclude: choosing Exact Online Time & Billing for our own time registration was a great decision. Working with it is very simple, the interface is user friendly and it takes a minimum amount of time to enter hours. The fact that we are using our own product and can support suggestions from our customers on improving it firsthand is a bonus!