Time sheets
Employees is a professional services firms most valuable asset. Ensuring optimal utilisation of every team member is crucial for a profitable business.
In the realm of operations, budgets, planning, and time sheets revolve around the concept of hours. These three components play a vital role in gaining control and understanding the financial performance. Merely examining monthly billing and deducting costs is not sufficient.
Without time sheets you will not be able to understand if you overservice your client which is vital information when negotiating the next contract.
Conquer over-servicing challenges:
Gain control and insight into client engagements
Stop overservicing in its tracks with Magnetic's comprehensive dashboard, providing you with the tools to effectively monitor and manage client engagements.
Stay informed and in control through Magnetic's intuitive interface, gaining valuable insights into your projects and client relationships for improved efficiency and client satisfaction.
We understand that filling out time sheets may not be everyone's idea of fun. That's why we believe it should be effortless and efficient.
Experience a significant improvement in time sheet capture with Magnetic. Our platform automates the addition of tasks to users' time sheets, and you can take advantage of our quick-add time and stopwatch functionality to further streamline the process. Say goodbye to the hassle and embrace a seamless and speedy time sheet experience with Magnetic.
Moreover, we offer an additional tool called timeboost, which can be installed for enhanced time tracking. timeboost leverages technology to intelligently populate your timesheet, eliminating guesswork and reducing your team's workload. Rest assured; timeboost upholds data privacy while ensuring accurate billing. Empower your team to focus on their core tasks while Magnetic and timeboost handle the time tracking effortlessly.
Unlock accuracy and visibility with daily time sheet completion
While many businesses tend to allow employees to fill in their time sheet once per week, we believe a more frequent time sheet completion is better.
Accuracy and Detail: By filling out time sheets daily, employees can provide more accurate and detailed information about the tasks they have worked on. This ensures greater precision in tracking billable hours and project costs, reducing the chances of underreporting or overservicing.
Real-Time Visibility: Daily time sheet updates enable managers and team leads to have a real-time view of resource allocation, project progress, and overall workload. This visibility allows for better resource planning, identifying bottlenecks, and making timely adjustments to optimise productivity.
Client Billing and Invoicing: Regular time sheet updates enable prompt and accurate client billing, as well as timely invoicing. This helps maintain healthy cash flow and reduces the risk of revenue leakage due to delayed or inaccurate billing.
Project Profitability Analysis: Daily time sheet data facilitates more granular analysis of project profitability. It enables timely identification of potential cost overruns or inefficiencies, empowering agencies to take proactive measures to address them.
To many businesses their revenue recognition model is based on Work in Progress (WIP). There are several advantages in adopting this model, as opposed to a more traditional invoicing model.
WHAT OUR CLIENTS SAY ABOUT US
It's my trusted friend as I go through my day! I love the timesheet tracking. It allows me to hit the clock as I start something, stop, start on something else, etc so helps me to keep track of my time even if multi-tasking.
Some of the worlds greatest companies trust us.
