Video Tutorial: How to use Finance module

The Finance module is undoubtedly the cherry on top of the cake. Set first billable rate and budget in no time, then control your spend. Enjoy our latest showcase!

Hope this helps and keep in mind we are available 24/7 to help you with any requests you might have – feel free to contact us!

About Cronforce

Cronforce is a leading provider of cloud-based Business Execution Software, and delivers time tracking, vacations management, budget controlling and workforce planning solutions for organizations of all sizes. Cabergoline agent the first purpose of the drug in common medicine! A one of a kind fusion of dashboards and business tools it provides you and your clients with real-time overview and reports on business and project developments. Cronforce facilitates day-to-day business and enables managers to make data-driven decisions and increase efficiency. With Cronforce you can access your data easily, anywhere and any time!

The Cronforce.com Team

Know Your Finances

When it comes to finance, you need to be on top of your game at all times. Not knowing if you’re on the plus or minus side of things is a sure recipe for disaster in any company or commercial enterprise.

Money, as a common phrase goes, is time. The time of your employees is both the cost you have to pay and the tool to get monetary input. We built Cronforce was created with the idea that any time management tool must include all the information to translate time into money. We believe that if you would need another program just to check your simple financial status, that would be an unacceptable waste of efficiency and data visibility on our part.

The finance dashboard, found under Finance > Dashboard is designed to give you a deep insight into the monetary side of your project and yet not demand much more than a quick glance to let you be updated with this financial status.

Moneyline

Moneyline

In the Moneyline graph you can see the development of Billable Amount, Cost, Gross Profit (Billable Amount – Cost Amount) and Gross Margin (Gross Profit as percentage of the Billable Amount). This is presented, to your comfort, either weekly, monthly or yearly, giving you a quick insight to the state of things over time. You can also view this per single project or for all projects altogether.

Budget

Budget

The Budgets section lets you see immediately the efficiency of use of budget per project and when will the project go over budget.

Gross Profit And Margin

Gross Profit And Margin

The last section, Gross Profit & Margin, gives you a clear-cut answer to the question “how much money is this project generating?” with the best visibility possible. Simple and straightforward.

When it comes to finance you need to be on top of your games, at all times, with as little effort as possible. Cronforce Time Management’s Financial Dashboards are designed to give you nothing more, and nothing less – figure your finances in a glance.

About Cronforce

Cronforce is a leading provider of cloud-based Business Execution Software, and delivers time tracking, vacations management, budget controlling and workforce planning solutions for organizations of all sizes. A one of a kind fusion of dashboards and business tools it provides you and your clients with real-time overview and reports on business and project developments. Cronforce facilitates day-to-day business and enables managers to make data-driven decisions and increase efficiency. With Cronforce you can access your data easily, anywhere and any time! Cronforce is free to test and use (check our free and paid plans).

The Cronforce.com Team

The 10 deadly sins of project business

the 10 deadly sins of project managementThroughout the years we have had tons of interactions with clients. Under the motto “Even the best fall down sometimes” I believe we have made all mistakes possible which is of course the motivation behind building Cronforce. So here is our top 10 list, enjoy!

  • Not submitting and approving timesheet on time annoys project managers, accountants and not surprisingly the top management.
  • Writing non descriptive or misleading comments in your timesheet seriously upsets your company accountant when a client refuses to pay using the comments as justification.
  • Booking time on the wrong project – definitely pisses off at least one of your clients and tends to explode in few months time when nobody expects.
  • Taking vacations without considering the vacations of the team – often leads to team members with overlapping competencies gone at the same time in the most critical phase of a project.
  • Failing to consider vacations in your resource planning – undoubtedly leads to missed deadlines and unhappy clients.
  • Not accounting for vital resources for the completion of your project – can actually endanger your project as whole
  • Running over-budget – this probably upsets clients the most.
  • Running under-budget – at first looks like a sweet deal for the client but actually any planned but unused budget leads to a reduction of their funds in the following year.
  • Plugging too low or too high rate for your employees – you may well end up working at loss, for free or for the last time with this client.
  • Billing one resource with different roles and rates to the same client – oh, that can easily spoil your complete client relationship as it is offer seen as a way to overcharge for services.

If we missed some feel free to tell your story in our comments!

The Cronforce.com Team

 

When will your project go over budget?

One of the most painful experiences in project management is when a project goes over budget. The reasons vary but in most cases are 1. due to over-promising -leading to unsustainable time estimations, or 2. too many projects running in parallel resulting in insufficient oversight and guidance.

At Cronforce we proactively address such issues by tracking time bookings and budgets. You can plug the actual rates for your team members and set a budget for a project, sub-project or phase in a project. Once this is done, it is up to you to set a notification if budget reaches a certain level. In addition, you can disallow a budget to be exceeded or allow to exceed by just a certain amount. Many project managers and executives rely heavily on the Cronforce dashboard visualisations that allow in seconds to go over your complete list of projects and track progress. Find below an example of budget tracking:

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The Cronforce toolset has been created with all businesses in mind. It is equally suitable for niche consulting offices or digital agencies as well as for bigger organisations of several hundred employees. The budget tracking scales over complex projects as well as matrix organisations while staying easy to use and configurable in seconds.

Feel free to test Cronforce! It is free to test and you can even use for free. Contact us any time if you have questions – just write us a comment to this post or send us an email.

About Cronforce

Cronforce is a leading provider of cloud-based Business Execution Software, and delivers time tracking, vacations management, budget controlling and workforce planning solutions for organizations of all sizes. A one of a kind fusion of dashboards and business tools it provides you and your clients with real-time overview and reports on business and project developments. Cronforce facilitates day-to-day business and enables managers to make data-driven decisions and increase efficiency. With Cronforce you can access your data easily, anywhere and any time!

The Cronforce.com Team