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With fees under constant pressure and with the ever-increasing demands of clients, it has never been harder to keep projects profitable in the construction industry. Ensuring that all time spent on a project is recharged in an accurate and timely manner, along with recoverable expenses, can make a big difference to the profitability of a project and the overall profitability of the firm.
Sage Timeslips is a Windows PC based project time and expense management software solution. It integrates with other systems but can function as a standalone system, giving you more insight and control over how time is spent in your business. Sage Timeslips is a global leader in Time Tracking and has been purchased by thousands of businesses worldwide.
Albert Fry Associates (www.albertfryassociates.com) was established over 20 years ago in Belfast, and since then they have evolved into a multi-disciplinary consultancy focusing on civil, structural and transportation engineering. Today they operate from offices in Belfast, Derry and Dublin.
Like many businesses in the construction industry, Albert Fry Associates have been subjected to economic cyclical pressures and changes in client investment in new build and refurbishment. However, they have built their business on their undoubted expertise and an enviable reputation in their local market.
It can be difficult to accrue time and expenses information into a central database when a business operates out of several locations and this will be compounded when consultants are on sites for much of their time. That’s why eleven years ago Albert Fry Associates decided investigate time and expenses recording solutions.
They called on Deepak Sareen Associates who demonstrated Sage Timeslips. The demonstration showed them that Timeslips had all the functionality they required without any bespoking of the solution.
Their final decision to invest was made easier because Timeslips would integrate with their Sage Accounting System and furthermore, that since Timeslips was an inexpensive solution, it would quickly pay for itself if time and expenses were recorded more accurately in future.
The subsequent implementation went smoothly and as expected the system soon paid for itself through increased efficiency.
While it can sometimes be difficult to get every employee to record their time and expenses on time, alerts can be set up that will quickly identify when users are late with their recording so that project data can be updated.
This improved monitoring and budgeting of time and expenses allowed Albert Fry Associates to publish results internally so that management had a better view of profitability on individual projects and how each project compared with others.
Since Albert Fry Associates incorporated Sage Timeslips into their management systems they have been able to secure new consultancy contracts using their history of time and expenses on previous projects to budget and bid for new ones by being more competitive and thus build their business.