New feature: full cost control in your project

If you have your own company, or are responsible for a project, you know how important cost control is. Your project and business can only be a success when you know that you are operating within the limits of your budget.

Let us do your calculations for you. How? You decide!

Do you want to charge your employees’ hours at an individual hourly rate?
O.K.

Or would you rather agree on a fixed price or a specific hourly rate for each project?
No Problem.

Or do you have a fixed hourly rate for individual jobs and want to charge your customers this way?
Sure!

timr provides perfect support for the settlement model that you use for your company. We have even added a few features so that you can remain as flexible as ever in your settlements.

 

 

 

Allocate task budgets

In timr Plus and timr Enterprise, you can now assign budgets in the settings for a task. timr offers a number of planning types for this:

Fixed price
You determine the budget and either the number of hours planned or the planned hourly rate.

Hourly rates for tasks
Hourly rates for tasks and the hours planned are used as the basis for calculation.

Hourly rates for employees
The individual hourly rate determined for each employee, together with the planned hours, are used as the basis for calculation in this case.

 

 

You are not alone

Cost control and budget responsibility do not have to rest solely on you. You have employees, team leaders and project managers who also have to keep an eye on their own shares of the budget.

Your employees always have an overview of their own budget and can point out possible overruns and react to them in a timely manner.

Using the team permissions feature, which is included in timr Enterprise, you have the option to define project managers. These project managers have a detailed view of the project budget and additionally receive email notifications as soon as the budget is close to being used up or overrun.

timr actively supports you, your employees and project managers in keeping to your budget, automatically and at the touch of a button.

Detailed budget overview

The budget dashboard gives your project manager a very precise view of the project budget and its margin.

Suppose your customer, “Smith & Co”comes up with an additional requirement which was not originally part of the calculations. You have specified an internal and external hourly rate for each employee. Your project manager can now check at the touch of a button whether the hours needed to fulfil the new requirement still fall within the originally calculated budget, how much you have earned up to now for this project and whether this requirement can still be met within the budget.

 

We hope that you find this update as useful and practical as we do, and we are always happy to receive your feedback and opinions!