The ability to track labour costs to identify if a task is profitable is essential, whether you are a service provider who charges customers by the project, or a manufacturer who wishes to ensure that the cost of the product is consistent with the investment in it. Moreover, if there is any suspicion of loss, it is important to identify the cause and to take immediate corrective actions.
Synerion Time Costing system enables you to automatically manage task or project costs and their consolidation with attendance reports. Managers can then evaluate, at any given time, working hour utilization per task or project at the organization, department, or employee level, to ensure that the company maintains it profitability objectives.
Corrective Action to Maintain ProfitabilityComparison of planned vs. actual in accordance with
time and attendance management and
shift management, ensures your control over project labour cost, and enables you to take corrective action if necessary.
Business Intelligence tools and management reports provide a range of task / project data analysis capabilities, including matters related to employment agreements, attendance time and breaks, whether paid or not.
Synerion Time Costing capabilities facilitate the maintenance of business goals, even in dynamic business environments.
Key Benefits of Synerion Time Costing
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Cost tracking tasks /projects in real-time at employee, department, and company levels
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Customer record keeping and billing based on actual hours spent on a task
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Analysis and identification of deviations from planned performance measures, such as overtime
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Identifying and reducing non-billable hours
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Ability to stay within budget by tracking the amount of overtime, at both the employee and department levels, and the ability to take corrective action
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Planning based on accumulated knowledge
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Reduction in administrative tasks by automating processes previously performed manually.
Key Features of Synerion Time Costing
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Calculation by cost rate and billing rate
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Parallel cost charges for multiple tasks, and proportional allocation of working hours
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Automatic detection of deviations from plan and email alerts to managers/employees
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Display and access to current data, including calculated data, without the need to run additional calculation programs
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Business intelligence reports about all aspects of attendance, absence, and overtime related to a task or project
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Self-service tools that enable employees and managers alike to access data depending on their authorization level.