Many 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.
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The Cronforce.com Team
In our last article we talked about how to calculate cost rates and billable rates. The next set of important questions to answer is:
- How much do I make per project?
- How do I ensure I do not run over budget?
The best way to keep an eye on your revenues and profits is by tracking in real-time what your employees are working on. When they work on billable projects and the billable rate is above the cost rate, then you make a profit. The cost can go up when your team members are booking on internal projects which normally have a cost component only. These could be either billable units such as programmers working on a product that one day can turn into a commercial success, or non-billable units such as HR and admin staff.
When you run a sizeable business, using Excel spreadsheets quickly becomes a NO GO. This is why we developed Cronforce – it gives you real-time overview of how your budget is being spent. But also provides insights into your profitability per project and resource type.
A valuable function of real time tracking of your budgets is that you can immediately spot when you start spending more on a project than intended. This is especially up-to-date nowadays because business is dealing with increasingly thin margins and budgets require particularly strong scrutiny.
The Cronforce.com Team