15 reasons Harmony is better than a standalone timesheet system

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    Written by HarmonyPSA on 2019-04-10 Last updated 2019-09-04 - 5 minute read

Professional services companies use timesheet systems; they need to know what their staff are working on. Without time recording, how would they know how much to charge each month?

Given that this is the air these companies breathe and the app stores of the world are full to the brim with timesheets systems, it is surprising how many companies we speak to simply cannot get this process right without extensive manual manipulation and post-timesheet editing.

Harmony is not a timesheet system. It is a contract and business control solution that includes time recording as a process integrated function within the overall business context.

On the face of it, this makes it seem a more complex proposition, so why should you consider it in place of a simple timesheet solution?

Well to start with, here are 15 very good reasons:

Consideration

Timesheet System

HarmonyPSA

Creation of master data (customers etc)

Manually performed by an administrator based on information provided by sales process

Automatic

Creation of user records

Ditto

Timesheet users set up as integral part of new joiner process

Creation of contractors and payment terms

Contractors not normally modelled separately in timesheet system. Assignments and payments generally manually matched against invoice. Payment accrual manual.

Contractor assignments set up in Harmony, created automatic accruals and direct cost attribution to project profitability and auto-matching of supplier invoices.

Creation of projects and tasks

Manually captured and interpreted from sales order, combination of administration and project management responsibility.  

Projects are automatically created from sales orders. Tasks can also be automatic or planned directly in system.

Creation/maintenance of billing rules (rates etc)

If supported, these are normally created manually by an administrator based on the sales order.

Automatic

Absence management

Not always supported

Fully supported

Recording time against service contracts and tickets

Ticket level analysis not available. Service contracts can be set up as tasks.

Fully supported at ticket level

Project management

Only supported by the most sophisticated timesheet solutions. Most solutions are simple and rely on external PM tools and manual transfer of data.

Fully integrated

Resource management

Can be supported by the most sophisticated solutions, simple solutions rely on manual spreadsheet tracking and maintenance. Support however is limited to those tasks modelled in timesheet system which can be a partial view of the organisation.

Integrated functionality

 Project purchases

Not supported by timesheet systems. Requires projects to be created in accounting system as well as to track purchases, however, accounting systems do not generally support project purchase budget and/or provide access to project managers. In effect this requires the PM to track the project spend on a spreadsheet and then reconcile with financial reports that often have different period cost treatments. Resulting data fragmentation complicates enterprise reporting.

Integrated functionality

Project expenses

Not supported – separate process, software and controls. Joining expense and time billing data creates difficulty in finance function and leads to billing errors.

Integrated functionality

Employee utilisation

Billable targets are usually in timesheet systems. Even when supported, they are rarely updated on final invoice values after review, making data misleading.

Integrated functionality

Project profitability

Timesheet systems generally do not hold unit cost rates and have other problems with contractors, expenses and purchases. This forces the creation of project records in accounting systems, greatly complicating their footprint and making reconciliation and reporting of the truth difficult, manual and generally unsatisfactory.

Available in real-time, no confusion or need to complicated accounting system. Single version of truth.

Earned value

Only available in the most sophisticated and expensive solutions.

Fully supported

Invoicing

The majority of timesheet systems can, at best, produce a report of time booking and rates. This can then be circulated, edited, approved and manually invoiced. Often invoices are then also circulated for checking and release approval. This process will occupy the most senior people for many hours each month.

Integrated functionality with purchases and expenses automatically consolidated.

Support for Work in Progress accounting to ASC606

Not supported by timesheet systems and ASC606 requires non-spreadsheet based audit trail process. This is a problem, forcing people to work this out in the accounting system.

Fully supported

Even the best timesheet systems have inherent context-driven limitations that necessitate manual maintenance and review processes. They are surrounded by external systems and processes that are not correctly integrated and so create data noise and inaccurate enterprise reporting, no matter how much manual editing is carried out.

If you care about project management, project profitability, accurate billing, process efficiency and enterprise data reporting, even the best timesheet system will leave you wanting.

Harmony is designed to control the flow of business from lead to cash with total control of master data, no interfaces, no data misalignment - a single version of the truth across the organisation with the minimum of administration.

That is why people buy it.

Read More

Why buying a timesheet system is a bad idea

Improving timesheet compliance

 

About the Author: Harmony Business Systems Ltd (HBS) is the company behind HarmonyPSA, the most complete cloud PSA software on the market. Developed with functionality to cater for even the most complex needs of MSPs, VARs, ISVs and Professional Services organisations, HarmonyPSA truly is the next generation of PSA systems. HBS is an independent company based in the UK. Follow HarmonyPSA on or LinkedIn


Tags: Business, Timesheets, timesheets system, Managing Billing of Time

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