Time and Expense Management in Project Services Automation (PSA)

In today’s fast-paced technologically advanced world, time and expense management is very crucial for enhancing productivity and profitability. Time and Expense Management is the process of recording and tracking hours worked and expenses incurred in relation to project(s). Time and expense management helps businesses monitor labor and material costs by providing tools for employees to track their work hours and expenses. While automated processes helps managers to approve reimbursement requests and reports to track and control labor costs.

Time and Expense Management incorporates tightly with Projects, Accounts Payable and Receivable for proper billing of labor and materials according to customers.

Benefits of Time and Expense Management:

  • Easy To use
    PSA provides resources with the ability to track time and expenses and approvals online, anytime, anywhere in the office or in the field.

     
  • 100% Business Transparency
    Businesses can save time on invoicing and be 100% transparent with clients by allowing time tracking to be distinguished by billable or non-billable hours.

     
  • Flexible and Configurable
    Fits the way your business works that meets your unique business processes.                                                                                               
  • Rapid Expense Management
    With Expense Management, all expenses are tracked and processed for Resource/Project Manager’s decision so as to approve or reject the expenses with proper explanation. Approved expenses are reimbursed with proper invoicing.

     
  • Accountability
    Provide real-time financial insights to customers and allow them to integrate on timely curative actions.

     
  • Compatibility
    Incorporate the submission of time sheets and expenses, approval, processing and collaboration through web, mobile apps and Office 365 for timely billing.