Time theft and timesheet fraud both involve employees being paid for hours they didn’t actually work, although they differ in scale and intent. But the bottom line is that incorrect timesheet practices cost businesses about 7% of annual payroll, according to U.S. Department of Labor estimates. Let’s look at the differences and see how they can […]
In project time tracking, it’s crucial to understand the difference between actual time, planned time, and earned time. Think of these three metrics as lanes in a swimming pool — each moving you forward, but at a different pace and with a different story to tell about your project’s progress. On their own, they can […]
Time tracking tools to track billable hours have become indispensable assets for operations and finance managers seeking to optimize profitability and maintain precise project cost control. By accurately capturing the time spent on various tasks and projects, these applications provide helpful information for workflow efficiency, resource allocation, and billing accuracy. Also, they eliminate the guesswork and potential errors associated with manual time […]
Have you ever thought that you could be using your project time tracking data better in your organization? That you’re dealing with data silos and your teams could be more efficient with better integrated insights? If yes, it’s most likely time to talk about time tracking integrations. Just imagine this scenario: Without having to even […]
The challenge of managing projects with multiple billing rates This guide aims to provide insight into the dynamic world of project billing, underscoring the necessity for precision, consistency, and foresight in managing multiple billing rates. As a Beebole implementation consultant, I’ve seen my fair share of scenarios filled with these challenges. So please follow along […]
