To work smarter there are many things companies can do to make employees more productive and efficient. However, not all solutions or platforms provide a meaningful way to track progress. Today, thanks to new features to Mavenlink’s project management and collaboration platform, users can track their project’s financials with greater visibility and control.
Working Hard or Hardly Working?
Recent studies have shown that when organizations give people a sense of meaning in their work, it's not only good for employee engagement, but it's critical to building a healthy organization. What better way to give employees a sense of accomplishment than by mapping their business performance?
Users now have real time, anytime access to all their detailed project financials in multiple currencies. The new tools offer those doing project management better control for every aspect of their projects, including budgeting, resource planning through invoicing and payment.
Mavenlink's new Work in progress reports keep track of planned and actual costs on open projects.
The new reporting features from Mavenlink are designed to help companies efficiently manage more of their business online by providing users a detailed view of the entire financial life cycle of projects. Key new features include:
- Utilization Reports: users can maximize revenue with more efficient resource utilization and planning
- Work In Progress (WIP) Reports: users can keep track of planned and actual costs, as well as what has been billed and awaits billing on any project for every client
- Accounts Receivable Aging Reports: users can reduce time-to-payment through better visibility of upcoming and late invoices
- Time Sheets: users can capture time, view and report on billable and non-billable hours for each team member or workgroup, with a real-time view of project costs
- Task-Level Budgeting: users can manage cost expectations and ensure tighter project controls by tracking budgets (hours and dollars) down to the task level
Combining broad project management and financial reporting doesn’t just help project managers keep better tabs on a project’s performance; they also help keep all team members up to date from a single place. As a result, team members can see their impact throughout, helping to make their work a little more meaningful.