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Track financial progress

Tracking the financial progress of projects is vital to ensure that projects meet both client objectives and deliver profit for your organisation. For successful budgetary control you need accurate and timely data and controls within the system to ensure that you are able to quickly identify when budgets are at risk. Coretime gives you a powerful project accounting software tool which will allow you to monitor and control your budgets.
Getting a quick update on spend and work in progress within larger organisations is particularily challenging. Coretime is the ideal solution for organisations with complex requirements. It handles with ease multiple projects, projects completed over an extended period of time, projects involving many different resources and staff who may be working across several office or site locations or even at overseas locations.

Accurate, timely and accessible data

Coretime is a web-based system which can be accessed by an unlimited number of employees across multiple office locations wherever in the world they are based - including on the move with the Coretime App. It allows staff to enter timesheets and expenses in a central system and gives complete visibility to assigned employees of all the key financial measures relating to projects. 

Visibility and control of budgets

Coretime gives you greater control of your budgets with complete visibility of actual costs against allocated budgets. It allows you to set email alerts to warn when budgets are at risk. It gives you system controls which enable you to monitor and take decisions.

Improving profitability

In order to improve profitability you need to be able to easily identify profitable projects and be able to drill down into data which will help you understand what factors have influenced profitability when they have not. Coretime allows profitability measures to be viewed from invoice to total project level enabling you to ensure that current projects deliver results to the bottom line.

For future planning, it delivers an accessible history of project data to use to plan, budget and quote for new projects based on past learnings so ensuring future profitability.

Key Features:

Tracking costs

Time and expense data can be viewed at any work breakdown level:
  • Client
  • Project/Job
  • Phase/Stage/RIBA workstage
  • Activity/Task

View Work in Progress

  • View WIP as either unbilled activity or on a % complete/revenue recognition basis
  • Use automatic email alerts to manage risk of time and budget overrun
  • View Aged WIP or view WIP at a date point 
  • Easily invoice, carry forward or write off transactions 

Managing budgets and invoicing

  • Set budgets and allocate to chosen work breakdown
  • View Actuals versus Budget and identify variances
  • Generate invoices with associated project detail directly against WIP
  • Invoice against retainer schedules for fixed fee contracts
  • View Aged Invoices and Debtor reports

Managing current and future profitability

  • View profitability at any level
  • invoice, job, phase, RIBA workstage, project or client level
  • Drill down to identify areas of risk
  • Use historical data source for analysis of past projects
  • Use past projects as templates for future projects
  • Amend resources, budgets and other parameters to generate scenarios and maximise profitability

Financial reporting

A comprehensive suite of reports covering every aspect of financial management is available as standard and for busy Senior Managers dashboard functionality delivers key ‘hot button’ info for monitoring KPIs.

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