I would not rate filling out my timesheet as one of the tasks I look forward to with breathless anticipation every day. Even as an employee at a time tracking software company, it’s another task I have to add to my to-do list and carve out time in my already hectic week to do. I’ve talked about in a previous blog post how employees hate tracking their time, and unless you’ve devised a super-creative, fun, and incentivized way for them to fill out and submit their timesheets, it’s probably not something they’re ever going to love doing, either. There are several reasons for this I’ll reiterate here: Read More
Here’s the situation: project managers need to manage their projects and resources, complete with project actuals, in Microsoft Project. Meanwhile, accounting needs to measure project costs in Dynamics for project accounting purposes. This has proven to be a challenge. Project managers have to add project actuals into MS Project manually. In addition, they don’t have a way to keep track of project resources outside of Dynamics. Read More
For us, our most important stakeholder is not our stockholders, it is our customers. We’re in business to serve the needs and desires of our core customer base. — John Mackey Profit in business comes from repeat customers; customers that boast about your product and service, and that bring friends with them. — W. Edwards Deming This is the fourth and last post in my series on Key Performance Indicators (or KPIs) that I believe your company should start measuring and using. My previous posts have covered KPIs for the following groups: Marketing and finance Professional services Engineering To round out the series, I’m recommending KPIs to start measuring for your Client Management and Support teams. Read More
It’s not about being the best. It’s about being better than you were yesterday. — unknown For the last few weeks, we have been exploring the Key Performance Indicators (or KPIs) that your company should start measuring and using, if you are not already doing so. To continue the series, today I’ll be focusing on metrics related to your engineering teams, specifically software engineering. Read More
Lost time is never found again; and what we call time enough, always proves little enough. — Benjamin Franklin, The Way to Wealth (1758) In my last post on the topic of KPIs, we explored the marketing and financial metrics that I felt were critical for companies to measure. The focus of this post is your services team – that is, the team who rolls out your product or service to your customers, managing the solution implementations, integrations, associated training, and customizations. This post is mainly aimed at software or software-as-a-service (SaaS) companies; however, this may be helpful to other types of companies that have a very similar functional area. Read More
What gets measured gets done. — W. Edward Deming Doctors monitor our personal health with metrics like blood pressure, heart rate, and temperature. Likewise, businesses have key indicators of performance (KPIs) that business leaders track. Just like starting a new fitness program, a new year is a good time to calibrate your business by making sure you’re measuring the most important things. Some business KPIs are obvious: revenue, profitability, number of units sold, etc. Others may not be so familiar. Read More
Do you make New Year’s resolutions? Even though I make them, too often I find myself in the same spot as many other resolution-makers. Resolutions made are often not resolutions kept, as I look sadly at the scale, eat another cupcake, and stare with disgust at the treadmill. But I digress… What about our business resolutions, though? We all have goals to make our jobs easier and less stressful, while making the company more successful. This can be in any functional area of the business, and is certainly no exception in the area project management. Read More
Much has been made of the warnings of really smart people that have said artificial intelligence (AI) advances lead to the end of us all. No kidding. Steven Hawking said, “The development of full artificial intelligence could spell the doom of the human race”. Elon Musk said, “I have exposure to the very cutting-edge AI, and I think people should be really concerned about it. I keep sounding the alarm bell, but until people see robots going down the street killing people, they don’t know how to react, because it seems so ethereal.” Read More
As with most things we have to do in our daily lives, there’s a right way to budget for projects, and a wrong way. The wrong way would be to pull a random number out of the air and hope for the best – although, sometimes that may be the only way to get the data you need to budget correctly next time around (as the saying goes, “Failure is just practice for success”). Read More
Our passion for time and expense tracking, project accounting, helping companies know their costs and improve profitability, and motivating people all over the world to invest their time wisely knows no bounds. Join us on our journey as we sift through these fascinating topics and more.
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