5 ways inaccurate time data can hurt your company
TRANSCRIPT
1
5 Ways Inaccurate
Time Data Can Hurt
Your Company
2
Dan Doolin
Senior Account Executive
Integrity Data
Brian Maxin
Director of Sales
Journyx
3
Why is tracking employee time
accurately
ESSENTIAL?
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• Payroll Cost Allocations
• ACA Compliance and Reporting
• Leave Management
• Client Billing
• Project Cost Accounting
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Why companies need to track time
Payroll Cost
Allocations• Payroll costs are the
single largest cost
• Cost allocations into your
GL is critical for accurate
reporting and planning
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Why companies need to track time
ACA Compliance• Tracking Hours of Service
is required by ACA
• Hours are used to
determine ALE Status
• Hours of Service is basis
for eligibility calculations
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Why companies need to track time
Leave
Management• Mandated paid sick time
• Keep accurate balances
• Tracking for inquiries
• Compliance reporting
• Liability posting
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Payroll Cost Allocations
ACA Compliance and Reporting
Leave Management
• Client Billing
• Project Cost Accounting
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Why companies need to track time
Billing• How much time is spent
on client work?
• You can’t bill what you
haven’t tracked
• Lost time = LOST $$$
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Why companies need to track time
Project Cost
Accounting• How much time and money
is spent on a project?
• Help you understand costs
and where projects are
broken
• Better project estimates =
MORE PROFITS
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The truth is, while time tracking is
essential for any type of business,
nobody likes to track time!
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• Survey of Dynamics GP users
• Analyzed their use of
Dynamics GP, time and
expense software, and
challenges with collecting time
and expense data within their
companies
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Top 4 challenges
Getting timesheets submitted
on time1
Correcting bad data & fixing
broken timesheets2
3 Time tracking software doesn’t
sync with other business
applications
4 Can’t track all my data in one
place
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Challenge #1
Getting Timesheets Submitted On Time
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• Provide multiple options for data entry
– web and mobile
• Email reminders/manager notification
to make sure timesheets are
submitted on time
• Data entry compliance tools and
reports – reduce the “sheet hunting”
process
Getting timesheets submitted on time
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Challenge #2
Correcting bad data & fixing broken
timesheets
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• Keep it simple – nobody “likes” to
track time
• Data entry validation tools to catch the
corrections on the front end
• Flexible approval workflows for
manager review the accuracy of the
data
• Prior period correction and admin
tools to make sure the data is correct
before it goes to GP
Correcting bad data and fixing broken timesheets
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Challenge #3
Doesn’t sync with other business
applications
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• GP and GPPA
• MS Project
• ADP, Paychex, Paycor, etc
• GP Canadian Payroll
• CRM
• HR
• Off the shelf integration framework
and robust web-services/API
Doesn’t sync with other business applications
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Challenge #4
Can’t track all my data in one place
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• Time Tracking
• Time off tracking and leave requests
• Expense Tracking
• Custom/Equipment/Widget Tracking
• Resource Planning/Management
• DCAA and other compliance needs
• “Crew” based entry
• Project and Service Order tracking
Can’t track all my data in one place
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COMPANY NAME
Dan Doolin
(217) 732-3737 x0203
Brian Maxin
(512) 225-3913
Thank you!