Time Tracking and Expense Reporting Software
Enterprise time tracking and expense reporting software for today’s project-based organization
Without enterprise timesheet management and expense reporting software your project-based business cannot effectively account for project costs, track budget versus actual, and analyze real-time reliable project time and cost information to make timely and sound business decisions.
Time and expense tracking challenges for project-based businesses include:
Time sheets and expense reports are captured in multiple disconnected systems
Some departments report work time for payroll processing and expenses for reimbursement; IT and product development teams use their own project tracking system and may capture project time and expense; the professional services team uses spreadsheets or a silo-ed time, expense and billing application; spreadsheet gymnastics, manual adjustments and merging is required to compile the data from these disparate systems into operational cost and revenue reports and project status.
Using spreadsheets or multiple disparate tools to track time and expense leads to inefficiencies, poor project status, cost/revenue visibility, and your management team does not have access to real-time report on projects and operations to measure progress and make informed decisions.
Out-dated or in-house developed time tracking and expense reporting software
Legacy-outdated time tracking and expense reporting systems have high maintenance costs, ongoing fix and enhancement tasks, and divert precious internal resources as well as attention away from the organization's core business.
Lack of effective internal controls for time sheet management and expense reporting
Weak internal controls for time sheet and expense report tracking can lead to non-compliance with Sarbanes-Oxley, inaccurate cost accounting or violation of employment laws; your business may face severe penalties and lose investor confidence when such weaknesses are discovered.
Benefits of Tenrox online time and expense tracking software include:
- Average timesheet review takes about 6 minutes. With automated time sheet software that has validated time entries against your policies at the point of entry and visually highlights any exceptions, review of a typical timesheet is reduced to less than 1 minute; an 80% reduction in review time
- Average cost to manually process a spreadsheet expense report is $40 to $80. Automating the process helps reduce expense report management costs by 80%
- The ability to track actual versus planned time and expenses by project prevents budget overruns and improves forecast accuracy
Tenrox Time and Expense Tracking Software that adapts to your requirements
Our configurable project time, leave time, overtime tracking, and expense reporting system allows you to effectively collect, manage and track timesheets and expense reports based on your requirements.
Highlights of what Tenrox time sheet management and expense reporting functions have in common:
- Simple intuitive user interface is designed to be a pleasure to use, for maximum usability and rapid adoption
- Visual workflow-driven configuration makes setup and change easy
- Approval workflow simplifies and automates policy enforcement
- Line item approval
- Easy to configure dashboards and extensive reports for financial analysis
- Enter time and expense using the Tenrox mobile application for iPhone and Android or on your laptop using the Tenrox offline time and expense application
- Fully web based time and expense tracking solution takes maximum advantage of the Microsoft technology stack and can be deployed on-premise or on-demand
Time tracking software feature highlights:
- Timesheet designer technology lets you configure timesheets, for every department, to look and function the way you do business
- Seniority based leave time management let you define your rules for leave time accrual and usage; you can also auto import/export leave time banks to/from your payroll system and let Tenrox validate leave requests at the point of entry
- Full support for overtime calculation
- Full DCAA compliance support including day locking, enforce note entry for changes, and auditing of all data entry, changes and approvals
Expense reporting software feature highlights:
- Import credit card transactions and create an expense report automatically
- Attach scanned receipts to individual expense entries or the expense report
- Full multi currency, real-time currency conversion and multiple-tax support
- Track expenses by category
- Mark expenses that are billable, capitalized or to be reimbursed
- Full cash advance management
- Built-in integration to account payable, account receivable, general ledger systems of all major accounting systems
Tenrox time tracking and expense reporting has built-in connectors to your enterprise systems. No custom programming is required for standard integration. Data can be exchanged with leading systems for accounting (Great Plains, Sage ACCPAC, SAP Business One, QuickBooks), payroll (ADP, Ceridian, Paychex), ERP (SAP, Oracle, PeopleSoft), project management (Microsoft Project), CRM (Salesforce.com, Microsoft), HR, etc.
Click here to learn more about how Tenrox Time sheet helps you achieve and maintain compliance with regulations, standards and guidelines in your industry.
Secure, SAS-70 certified time sheet management and expense reporting on-demand hosting environment
Tenrox On-demand is convenient alternative to implementing and maintaining Tenrox Timesheet in-house. Find out more about Tenrox On-demand.
Powerful, configurable and intuitive online enterprise time and expense tracking software for your project-based business
Tenrox time and expense tracking system tracks project time, helps you manage travel and entertainment expenses, eliminates payroll and billing imprecision, improves project and demand visibility, and reduces administrative overhead.
“One of the biggest reasons for choosing Tenrox project management software is that it’s flexible enough to let us replicate the work processes that we developed in-house, but robust enough to give us much more powerful workflow management and rules application.”