We have all experienced homemade timesheets. If you have also experienced networked or cloud-based timesheets, you realize that filling out a timesheet is just about the same no matter what the method - paper form, electronic spreadsheet, networked or cloud-based app. Beyond the input method is where the differences become more obvious.
I found seven ways that a cloud-based timekeeping app, like MyCorbu, saves you time and/or provides valuable functionality that you can't get with a paper form, or an electronic spreadsheet.
I think it is safe to say that the typical firm will save 9 or 10 hours per month of somebody's time. This could mean a cost savings if you are farming out that work. Or if you are doing these things in-house, it could create a day's worth of extra business development time. Or if you are doing it yourself, maybe a couple extra billable hours and an evening or two of free time!
Here is what I mean by each item. See if you spend more time on these things with your present system than my estimated savings.
1. Compiling Time Records For Invoicing And Payroll
Spreadsheets and paper share the same deficiency when it comes to compiling time records. You must move the data to a new format that accommodates totals per person per project. In a well-thought-out electronic spreadsheet system this might only take a few minutes per time collection period. With a paper system the time can grow to nearly an hour per Timesheet. MyCorbu does this instantly.
2. Evaluating Project or Staff Performance
When you want to see how this month will turn out. Or who is working on what. MyCorbu shines. You can get this feedback for any timeframe with a couple of clicks. This beats even true accounting which requires you to 'post' time records. If you post daily to make month-to-date queries possible, then you run the risk of having to correct a posting now and again. That is tedious and time-consuming. You will find yourself 'fudging' new entries to avoid that task, which also takes time, but less.
Paper and spreadsheets require an ad hoc 'project' involving everyone to assemble this information. This rarely happens because of the effort required. So you are flying blind. Then you get historical that arrives too late to be useful.
3. Summarizing Time For A Project
You need to keep track of your project-to-date hours because that is the key to understanding profitability. MyCorbu can retrieve this instantly and for any timeframe. Spreadsheets and paper systems require another process to log in this data so that it is available when needed - or you can get a rough idea by combing through invoices when the need arises. Knowing that corrective action is needed is priceless.
4. Accessing Past Time Records
Spreadsheets and paper require an ongoing effort to be able to supply the answer to a query about "how much time do we have on ...". It is equally helpful to get a tally of hours for completed projects that are similar to a new project in the proposal stage. No effort at all is required to access this information with MyCorbu.
5. Updating The Timesheet
After every time period the timesheet needs to be refreshed. Change the dates for weekly/bi-weekly timesheets, add new projects, remove old phases, copy and distribute or file electronically. Every pay period. With MyCorbu none of this is required. Add a new project the day it arrives in about 3 minutes. Add a new phase in one minute.
6. Access To The Timesheet
On your phone is the ideal place to find your timesheet. It goes wherever you go. Very handy. Next best is an internet-connected tablet or computer. MyCorbu and even digital spreadsheets (if stored in the cloud) match the ideal. MyCorbu is not a mobile app, but I use it to enter my time every day through the browser.
7. Implementing Daily Timesheets
MyCorbu [encourages](http://www.mycorbu.com/blog/daily-timesheets) daily input. The other systems can only support receipt of daily time records at the expense of creating new paper forms and spreadsheets every day. Documenting and submitting time records daily is superior to any other timeframe. It is the only way to get the best data and to have access to that data.
But It Is Tough To Let Go
I know it is tough to let go. But there is at least an extra work day of benefit to using MyCorbu. Or maybe it is a chance to free up evenings and weekends. Give it a try. What is there to lose?
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