Press release: Working smart for project profitability


SynergERP reveal the cutting-edge technologies CFOs can adopt to manage talent.

In our last article, we spoke about the Intelligent GL™ and other self-learning technologies in the accounting function.

Today let's explore some of the technologies that you can adopt to onboard talent, capture their timesheet data, and report on the projects they’re working on. In a service-based business, projects may range from software implementation to a marketing campaign or a research study. For these businesses, a cloud ERP solution provides a single location to track all financial and non-financial project data. Let the technology work for you, gain better visibility of project profitability and take your services business to the next level!

Technology for the employee life cycle

At SynergERP we have found that several of our clients have benefited from integrating their Application Tracking System (ATS) with their HR and payroll system. These systems are connected via our integration and automation tool, SynergAutomate, to create a simple way to manage the entire employee life cycle.

During recruitment, job roles are created in the HR application and sent through to the ATS so that open positions can be viewed by candidates. Once a candidate has applied and been selected for a job role, SynergAutomate then sends all the relevant candidate data from the job application system to the HR application. This eliminates the need to capture information in two systems and allows a seamless flow of data from recruitment to onboarding, and payroll through to employee self-service.

Now that we’ve simplified onboarding the employee, how do we track their time?

Sage Intelligent Time for simpler time capture

We all know the dreaded admin that is timesheets! Traditional timesheet practises are often tedious and produce inaccurate data, leading to lost utilisation and revenue leakage. Sage Intacct cloud financial management has built-in AI-powered timesheets which handle the time capture needs of the professional services industry.

So how do AI-powered timesheets work? A digital assistant connects to the employee’s email, calendar and desktop applications. The employee has full control over what, when and how this assistant collects data. Once the assistant has gathered all timesheet-related activities, it presents them for review by the employee. The employee then drags and drops the relevant items onto their timesheet. Another advantage of the time assistant is that it gets smarter with every review of activities, learning as it goes.

So, this AI technology simplifies time capture for project teams and frees your finance department from the role of timesheet cop. Accurate time capture contributes to correct project costs and ensures the business bills on time.

Stay on top of project profitability

Studies have shown that among the causes of project failure, a lack of visibility into project milestones is a leading cause. To remedy this, a management team needs access to dashboards that include KPIs such as budget to actual costs, profit, and resource utilisation.

In the Sage Intacct Cloud ERP, a project manager can create or import a project, allocate tasks and resources, and ensure the right billing arrangements are defined. As the project team enter their time and expenses the data instantly flows through the system and is available for invoicing and reporting.

The dashboards in Sage Intacct provide an overview of the budget to actuals, allowing the management team to make timely decisions about the financial health of projects. Utilisation, efficiency, and expense reporting may be done at the project, task, department, or customer level for granular transparency.
So, we’ve integrated the people management systems to reduce duplication of effort, we’ve used artificial intelligence to improve timesheet capture, and we’ve gained real-time insights on project profitability by having all project data tracked in one place.

With timesheets and projects complete, how does your hybrid workforce apply for leave and submit claims?

Your future employees

With a generation of ‘digital natives’ joining the workforce, there are different expectations of how and where work takes place. Cloud HR systems, with their ease of access and integration to other applications, position the HR team to effectively connect with employees in a hybrid work environment.

Sage’s cloud HR solution, Sage 300 People, has a web-based employee self-service tool that enables employees to apply for leave, submit claims, check payslips and more. For those employees who are not desk-bound, there is a mobile application which provides on-demand access to HR information.
By empowering your employees to complete HR-related tasks you free up the HR department from mundane administration, allowing them to focus on building a culture that will attract and retain the best talent.

Speak to SynergERP today to find out how to better onboard talent, capture time on projects, and report on project profitability.