The way project and employee rates can be defined has a dramatic effect on everything from billing and payroll as well as reporting and analysis. Time&Space® allows virtually unlimited charge rates from simple employees rates, to the more powerful advanced rating module.

  KEY FEATURES >
  • Powerful, rating system
    triple rating system simultaneously tracks internal cost rates, external charge rates as well as billing rates
  • Flexible structure
    unlimited rates by any combination of customer, project, employee, employee role, project, task, date
  • When only the best will do
    if you want to charge one way, but your system only lets you charge a different way, you need to compromise... your customers are not going to accept being charged more because your system doesn't allow it and you don't want to charge less than you can - the best thing is to be able to charge exactly the way you need to.
  • Freedom
    With Time&Space®, you have the freedom to do it your way: you can have a different rate for each customer, each project, each employee for a project, a different rate for each person for each project depending upon what they do on the project and when they do it.... although you are unlikely to use all of the power and flexibility that exists in Time&Space®, the flexibility is there for you when you need it, so you can charge what you need to charge without making any compromises to your rates....
  • Historically accurate
    complete history of rates is maintained allowing you to enter future rates as well as review historical changes and, in addition guarantee historical records and accuracy
  • Powerful reporting
    triple rating system allows you to report upon costs, recharges, billing history as well as combinations: profitability, billability, under / over recovery etc. by project, project task, employee, customer, employee by project, by task, by customer etc.
  • Triple Burn rate
    provides ability to simultaneously view burn rate in hours, costs and billing: %age of time used, %age of costs spent, %age of billing raised
  NEXT STEPS

Time&Space® - Costing, Charging & Billing

We've all heard that by watching the pennies the dollars (and pounds) take care of themselves, and this we feel perfectly describes Time&Space® as it provides a completely structured approach to billing projects, ensuring you can analyze, control and bill every transaction.

Control starts with the ability to set your charge out rates at the exact rates you have agreed to charge your customers. This might seem obvious, yet we often find that the software organizations use limits them to a handful of rates.

Worse still, most systems don't remember how rates change over time, they are fixed in time so you cannot change one rate for one project this week and another next month, they all need to be done at the same time, yet in the real world companies need to change their rates whenever needs dictate. What if you need specific rates by project, by customer, by the employee performing the work or the job they were doing? Often the limits don't stop there.

With Time&Space® we've worked hard to deliver a product that shatters these limits so that you are free to set your rates the way you work, after all, a compromise of just $1 in an hourly rate adds up to a loss of around $2,000 per person per year. Whether you have rates specific to a customer, a project, the person doing the work, what they are doing, the date they do the work or a mixture of any of these, with Time&Space® you can set your rates exactly.

Triple Time Rating System
Time&Space® provides three parallel rating systems to help you value and understand the

time spent on a project, costs vs. charging and what you actually bill to a customer.

The cost rate values the cost of your employees' time, the charge rate values the time that could be billed and the billing rate logs the value that was billed to the customer.

Even if you operate on a fixed price basis, the rating systems allow you to analyze profitability, you can compare what you billed to what you could have billed if the project were a time & materials project.


Cost , charge and billing rate build up.

Reporting
With powerful costing and charging you need powerful reporting, and Time&Space® will not disappoint. You can report upon all three rating valuations simultaneously through our active drill downs, standard reports, custom reports and our dashboards. See the section on reporting for full details.

Producing Invoices
The process of streamlining the billing process begins with the preparation of suggested drafts - here Time&Space® reviews timesheets, expenses and material costs and your project rules to "suggest" items to be billed. Of course you can review and edit suggested drafts as well as create your own drafts, but the suggestion process takes most of the manual work and time out of preparing invoices for production.

Wherever amendments are required, the system keeps track of who made them, when, why and exactly what the amendments were should you ever need to revisit them, reverse them or report on them later.

Preparation of invoices is simple and easy too, you can enter text through a built-in Word Processor with full formatting and spell checking, and once a draft has been finalized, billing users can print invoices using templates you configure to match the layout you and your customers require.

As you'd expect, security is definable within billing, so you can control who has access to which areas of billing and


Built in word processor and spell checker for invoices

you can define your own levels of authorization, separating those that can produce drafts, amend them, finalize them and bill them.

Invoice Formatting Options
Time&Space® comes loaded with a variety of standard invoice templates which you can personalize. You set your address, payment terms etc. and can even upload your own company logo - there is even a spell checker built in.

Invoices can be printed, exported, saved as PDF as well as emailed.

If you find you need a specific invoice template in a specific format, these can be created for you as requested.


Invoice formatted automatically within MS-Word

Summary
Time&Space® triple rating system and flexible charge rate rules allow you to support literally any project charging structure and billing allows you to generate invoices direct from your projects utilizing the time and expenses or fixed price schedules.

Not only can you streamline billing with Time&Space®, billing accuracy is increased, delays to production of invoices reduced which both increases your billings and improves cash flow through faster billing - benefits that often pay for your system in months.

If you'd like to discuss your requirements and see how Time&Space® can benefit your organization, please do not hesitate to contact us.

Demos
See the demos page for a video overview of billing.

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