What do you get from Cronforce?

tEREUy1vSfuSu8LzTop3_IMG_2538Many clients ask us to summarise what our application does. Our answer is: Cronforce is Time management app that controls your project budget and tracks your time. With Cronforce, you’ll have answers to questions like:

 

1) How much time are you spending on projects?

Cronforce makes it easy to track time from anywhere. You can log hours from the web, desktop, or mobile. There’s no excuse not to track, and you’ll have the data you need to bill accurately and budget wisely.

2) Are you going over budget?

Set a budget and keep tabs on progress with Cronforce’s built-in reporting. You’ll know before a project goes over budget so you can plan ahead with the team and the client.

3) Are your projects profitable?

Look back at your projects and compare billable vs. non-billable hours, cost and billable budgets per month and in total. See which ones were the most profitable and which ones cost you. With Cronforce you can even track the profitability of each resource type on a project.

Start fresh with a 30-day trial!

The Cronforce.com Team

3 Mistakes Small Business Owners Make When It Comes To Project Cost Management

Ah, project cost management. One of the most dreaded things for business owners alike, no matter their location or the size of their business. Nobody likes costs. Nobody likes gauging costs either.

Yet you have no choice than track them (or at least try your best to do so), if you want to have your business operating as intended. Otherwise, you risk a soon-to-be sinking ship scenario.

With that said, a lot of people underestimate tracking their costs and setting a steady schedule to calculate and implement an extensive, properly formulated project cost management strategy. A huge case in mind are the numerous startups that come with the era of digitalization we live in. Mostly tech-related, they consist of amazing web developers or designers… who sadly lack the perspective of calculating and tracking their costs.

It might be a bit harsh, but the startup and small business scenes are really full of people who are careless of their budgeting. Yet when they fail, they blame it on something else. We’ve seen such cases and as you might guess, this was a motivation to include a project cost management tool in Cronforce.

But where are the pitfalls when it comes to project management – and the costs contained therein?

You Think “Costs” Is a Monolithic Term

Far too many people seem to think that costs are just costs, making no distinction between different types of expenses. Of course, there’s a great variety here: some small businesses or medium-size companies extensively rely on a specific type of costs, yet are low on other expenditures of another type.

getting worried

What’s guaranteed is that you have overhead costs. These are the expenses that have to deal with advertising, rent, taxes, bills (electricity, phone), various utilities, fees (insurance, legal, accounting and other services). Like it or not, you’ll have some of these. This holds true especially for brick-and-mortar businesses tending to accumulate a lot of overhead due to building expenses (mainly rent). Cloud-based startups and Software as a Service (SaaS) ventures at least have it a bit lighter here, though web-based overheads can be cruel too.

Along with overheads, you’ll have various direct costs, fixed costs or variable costs. For example, direct costs are related to your actual product – when you sell it, what are the expenses it involves? Perhaps the shipping? No sale means no expenses in the case of direct costs. That doesn’t mean that you can get lighter on your overall project cost management practices, though.

The most important thing here is to start having an “all costs are not the same” mindset. Gauge your business and identify what type of costs you rely most on.

You Don’t Calculate Your Costs Properly

Feeling guilty as charged a bit? Don’t worry – lots of companies (especially small businesses) seem to mess up their expense management. After all, that’s why business consultants and project cost management tools and software exist.

However, a great chunk of companies don’t even identify that problem in order to seek a solution to repair the faulty financial pipeline at hand.

Before even starting a project, you should calculate all your costs immediately. What is, for example, your overhead cost per hour? What are the overhead costs related to various departments (if you have them, of course)? How much is your revenue and how are you currently allocating it? Who needs it the most? Have you actually set your product’s/service’s price to guarantee some juicy profits despite your overhead costs’ level?

office night frustration

Approach your business’ expenditures in a smart manner and from various viewpoints so as to gauge the financial situation to the optimum.

You Don’t Keep a Regular Track on Your Costs

Doing business is an extremely intensive thing to take part in. Variables are a constant here. Markets change, competitors come and go, customers’ preferences shift like crazy. What was once a fixed cost scenario can easily get shaky and need some tweaking. All of this especially holds true for eCommerce and tech-related small businesses/startups.

That’s why you need to always be in touch with what’s happening to your costs and all variables surrounding them. Not to mention that it’s about discipline – if you skip a week or two, it’s easier to fall into a downward spiral and ditch it for a long time. And then at the end of the year you’re left wondering what the hell happened and why your initial financial forecast didn’t turn out as planned.

Tweak your costs. Play around with your overheads. Be a dynamic swimmer, not a lethargic floater.

Project Cost Management Made Easy

Keeping a small business or even a medium-size company is a daunting task. It’s so demanding and requires of you to juggle so many things at once that sometimes the costs switch in your head might just shut down. We’re all human, after all.

That’s why we came up with a project cost management tool that you can utilize to become a flexible, functional and all-around efficient software sidekick of yours. What’s in the bag? Well, we:

  • Make it easier for you to set up budgets and rates
  • By providing you with a transparent, simple way to track your costs
  • In real time, on the go
  • With plenty convenient integrations with services such as QuickBooks or Paychex

What do you say about giving it a try for free and getting those costs settled once and for all? We reinvent project cost management tools. You draw the benefits.

Product management with Jira and Cronforce

Product management is the art of the process. To master that art in a modern environment, one needs to have the best tools of the trade. Jira is a best in class tool allowing for cloud-based process controlling and management.

Jira bridges the ever problematic gap between developers and management. However, Jira’s system is geared specifically towards product development, and does not include any time management. Via our established Jira integration, Cronforce aims at being the perfect complementary tool to allow for a comprehensive time and product management.

Screen Shot 2015-07-28 at 1.56.45 AM

The primary result of this integration is that while Jira offers product managers great flow control over every process and developer at your disposal, Cronforce allows for the management of the time of these developers and integrates that into the same framework. This streamlines the development process, making it efficient in both resource allocation and time.

But this integration goes even beyond the development team – offering time management for whole departments and staff in different sections of the company. For a tech company that has to juggle developers, marketing specialists, accountants and other different professionals, the seamless combination of Cronforce and Jira can be an important and invaluable tool, connecting and framing the activity of the development team via Jira to the rest of the company.

Moreover, by giving insights over the financial side of things, Cronforce turns Jira into something far more effective and comprehensive. Each process, performed by every member of staff, can be easily translated into time and money being either received or expended.

Product management is the art of the process. The integration of Cronforce with Jira allows for the best framework to master this art – management of every aspect of the project – time, finance and allocation of resources.

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 remove skin tags (check our free and paid plans).

The Cronforce.com Team

 

Important System Update – Select your own company domain

We are glad to announce that every Cronforce client gets a dedicated company domain. In simple words from now on you just have to log in at <your_company_domain>.cronforce.com.

Your company domain is set upon registration for a trial of the system. It can be changed at any moment by going to Settings > System (by Administrators only). Once you type in the new company domain and save, your domain changes with immediate effect and you can continue using the system.

The change also allows you to set a direct link to your Cronforce company domain in your intranet or on your webpage. Some businesses establish a redirect so that employees can easily remember the link e.g. timesheets.acmecorp.com can be configured to redirect to acmecorp.cronforce.com. Please remember: redirects are configured by your own IT representative.

The Cronforce.com Team

How to meet 100 key players from leading financial institutions, corporations and FinTech startups

NEXT B2B Forum Frankfurt

 

Last Thursday, the 13th of November, the Cronforce.com team flew over to Frankfurt for an event of a new kind – the NEXT B2B FORUM organised by the Global Shapers Hub Frankfurt of the World Economic Forum. The evening event took place in the stunning BLOOMBERG office and we very much enjoyed the 360 degree night skyline from the 18th floor.

One of the main entrepreneurial learnings for an emerging  high growth business  is to stay as close as possible to your customer. And this event has managed to deliver exactly that for us. Along the impressive discussions with provocative titles such as “Software is eating the Banking Industry – be prepared or be disrupted” and high profile keynotes from BCG and ECB, we managed to talk to one of our major target groups. And we pretty much liked what we heard – time tracking is needed but always a pain and way to inefficient. The showcase of our time sheet cloud platform and engaging visualisation of company efficiency KPIs received a few WOWs and not surprisingly generated new friends and several introductions.

It was a truly memorable evening with truly engaging speakers and audience so we look forward to the next event. We would also like to extend our special thanks to Karim Mustaghni and Rositsa Zaimova for the invite and warm welcome. We always try to take new learnings home and this time we jotted down one particularly memorable quote: “No action is no option. Don’t protect the past from the future!” ~ Dr. Basir Mustaghni (Principal, BCG)

The Cronforce.com Team