Timesheets – your time “accountant”

Just like capital, any business strives to get the most out of the work hours of their employees. A productive workforce can be the difference between success and bankruptcy for a company.

Every business, small or large, has an accountant which accounts for every expense incurred by the organization to deliver its services to its clients. In a similar manner, a timesheet accounts for the work hours spent by each employee for the organization to deliver its services to the clients. Wikipedia has defined a timesheet as

“A timesheet (or time sheet) is a method for recording the amount of a worker’s time spent on each job. Traditionally a sheet of paper with the data arranged in tabular format, a timesheet is now often a digital document or spreadsheet

Traditionally a sheet of paper with the data arranged in tabular format, a timesheet is now often a digital document or spreadsheet. With the emergence of internet, many online or web-based timesheet services have come up. However, among all the timesheet services the internet has to offer, only a few stand out due to their easy-to-use UI, accuracy & compatibility with other popular services.

xTimesheet is one such timesheet service, which complies with each of these criteria. With its accurate expense accounting, progress tracking & invoice generation features, xTimesheet is among one of the most efficient timesheet services out there. Moreover, xTimesheet allows you to export your reports & other data to an excel spreadsheet or other formats.

With FREE registrations for up to 5 members, join xTimesheet to help your business embark on the journey of its success.

Get ready for your new workplace in a post-pandemic world- Your Home

COVID-19, apart from being one of the worst health crises in human history, has been a major disruptor of the markets & the commerce sector around the world. Social distancing has led to Lockdowns in major economic hubs, globally, giving birth to the widely popular concept of “Work-from-home”. And keeping the office-nostalgia apart, employers, as well as, their employees have embraced this concept wholeheartedly. This can be seen in a study by fundera.com which states that by 2028 it is estimated that 73% of all departments will have remote workers. Apart from that, two-thirds of managers who offer telecommuting flexibility report that employees who work from home are overall more productive. This could be seen way before the COVID-19 pandemic took place, as Employers offering at least part-time telecommuting flexibility collectively save $44 billion each year.

On experiencing this massive boost in productivity & cost-saving, many tech-giants like TWITTER have been issuing statements like:

The past few months have proven we can make that work. So if our employees are in a role and situation that enables them to work from home and they want to continue to do so forever, we will make that happen

(Source: BBC news)

Among the emergence of this new work-culture, restructuring of small & medium scale business has never been more necessary. Coordinating a team in these turbulent times, especially with its members separated geographically, can prove to be a monumental task. This would require businesses to plan it’s time & resources strategically, along with keeping their staff motivated, in order to come out of this crisis, unscathed.

xTimesheet is here to cover all aspects of your business. From progress management features to expense accounting, xTimesheet allows you to stay in control of your business. Moreover, xTimesheet is absolutely free for up to 5 members, which makes it even more feasible for your business. So register on xTimesheet today, to help your business take its next big leap!

The race of productivity is on- how can your business win?

While the COVID-19 crisis still looms large over our society, nations across are easing lockdown measures, albeit with concessions. Society now seems to be poised for lukewarm normalcy, but the race of productivity & economic competition was never as fierce. In a post-pandemic world, life is going to be different from what it used to be. Social distancing, public disinfections & strict health policing are going to change consumer behavior in the long term.

Among this new world order, the competition among small & medium scale businesses has grown fierce than ever. With mass layoffs, economic downturns & stock market crash on the global markets, the spending behavior of consumers has undergone a massive shift. Businesses, especially now, need to focus on getting the most out of their resources right now. This requires intricate planning, efficient execution & critical management.

xTimesheet is here to provide all the necessary tools to sustain your business in these turbulent times. With a security-level based timesheet approval system, project management features along expense accounting, xTimesheet can take care of every aspect of your business. Apart from that, xTimesheet supports the community-sentiment by allowing free registrations for up to 5 members. So, don’t miss out on revolutionizing your business by helping it to adapt to the new norm.

Businesses need to focus on time management-now more than ever

Business owners and managers lead by example. The values and work ethic displayed by a company’s decision makers have a direct influence on company culture, and many times, on a business’ profitability. Time management improves the efficiency and effectiveness of a business, and business owners should continuously work on developing, or improving, their own time management skills.

When it comes to small & medium scale business, they’ve taken the worst hit amongst other segments. Now, most of their employees are WFH (working-from-home), which makes co-ordination & collaboration an even bigger challenge than it used to be, before the COVID-19 crisis.  Online video conferences & strategy meetings are getting more prevalent, as the situation worsens. Time management has become an integral part of this new corporate culture. Employees are getting an opportunity to learn to prioritize their affairs, balance work-life & expand their skill set.  This can prove beneficial for overall development of each employee, as well as contribute to an increase in their productivity. This productivity needs to be channelized & monitored by their executives, in order to get the most out of each employee’s potential.

This where xTimesheet steps in. xTimesheet has a variety of features to help you manage your employee work/hour metrics, along with other project management & expense accounting features to help your business take an edge over the competition in the current scenario. xTimesheet support export of data into excel sheets along with free registrations for up to 5 members.

So join xTimesheet and your business into taking a step towards a more positive & efficient future.

Remote Working: A new working fashion

Covid-19 has led many companies to recommend their employees work from home. For many, remote workers are a new reality and one that takes some getting used to. Whether it’s done by choice or by necessity, working from home has its benefits, like avoiding your daily commute. But it also means it’s up to you to motivate yourself and get as much out of your time as you would in an office setting. All of this has changed the way of conducting business. Consumers’ resources are scarce like never before, work-from-home has become a prevalent part of the work culture, coordination of teams is getting more challenging, and the list continues.

Employers & managers are facing various problems in managing time and resources which in turn is hampering the productivity of the work. One needs 3 important things to successfully work from home.

With such looming challenges of remote working, there has been an increase in appetite for management & connectivity services in the market, especially in the B2B sector. Employers & managers are heavily relying on web-based services like Zoom, Notion, Hubstaff & xTimesheet for managing their expenses, keeping track of their project progress & many other aspects of their business. Furthermore, businesses are getting increasingly inclined towards a digitized framework to keep their head above water, in these times.

xTimesheet has been a pioneer of this new economic order, with its built-in features like project expense & progress tracker & employee work/hour monitor, xTimesheet is providing an easy-to-use & efficient solution for business-owners, of all scale & size. With the help of determination, pragmatism & xTimesheet, your business, too, can wade through this crisis, to emerge stronger & perseverant than ever.

Visit www.xtimesheet.com to know more

COVID-19 impact for small businesses – -The way to get started is quit talking & begin doing

The world is undergoing one of its most turbulent periods in history. The streets are deserted, people are losing jobs on a massive scale, and markets have been crashing all across the globe. The destructive market impact that has resulted from the covid-19 quarantine measures have already driven many SMB companies out of business, while others are balancing on the verge of bankruptcy. As some business owners admit, their companies can only pull through one or two months of the quarantine period. Beyond that point, the future looks grim and uncertain.

COVID-19 has taken the World by storm – xTimesheet can help

With such looming challenges on the horizon, there has been an increase in appetite for management & connectivity services in the market, especially in the B2B sector. A complete online shift will be a viable strategy for many SMB business. Employers & managers are heavily relying on web-based services like Zoom, Notion, Hubstaff & xTimesheet for managing their expenses, keeping track of their project progress & many other aspects of their business. Furthermore, businesses are getting increasingly inclined towards a digitized framework to keep their head above water, in these times.

One way or the other, the COVID-19 outbreak will subside, and the global economy will embark on the long and painstaking journey of recovery. How well your business survives the crisis will depend not only on its inherent resilience but also on how well you prepare your company for the coronavirus lockdown and its limitations. We don’t mean to sound overly optimistic, but for some small businesses, the coronavirus crisis may be loaded with opportunities. Because of the great shift in the job market, SMB companies have the potential to attract better talent and enrich their human capital. The shift in demand is also the best time for startups to introduce new products and services for the vast online market and its diverse community of customers.

To manage the new economic order of the SMB companies in this period of crisis, SMB companies need to adapt to online ways for their smooth management without spending a ton on this. xTimesheet has been a pioneer of this new economic order, with its built-in features like project expense & progress tracker & employee work/hour monitor, xTimesheet is providing an easy-to-use & efficient solution for business-owners, of all scale & size. With the help of determination, pragmatism & xTimesheet, your business, too, can wade through this crisis, to emerge stronger & perseverant than ever.

Join for free, with up to 5 members, on www.xtimesheet.com or download the xTimesheet app on Google Play Store or Apple App Store.

Visit www.xtimesheet.com to know more.

The changing face of business

-The Market, as we knew it, ceases to exist.

The world is undergoing one of its most turbulent periods in history. The streets are deserted, people are losing jobs on a massive scale, and markets have been crashing all across the globe. Restructuring of the society, on this scale, was unthinkable as less as a year ago, yet here the situation stands. All of this has changed the way of conducting business. Consumers’ resources are scarce like never before, work-from-home has become a prevalent part of the work culture, coordination of teams is getting more challenging, and the list continues.

With such looming challenges on the horizon, there has been an increase in appetite for management & connectivity services in the market, especially in the B2B sector. Employers & managers are heavily relying on web-based services like Zoom, Notion, Hubstaff & xTimesheet for managing their expenses, keeping track of their project progress & many other aspects of their business. Furthermore, businesses are getting increasingly inclined towards a digitized framework to keep their head above water, in these times.

xTimesheet has been a pioneer of this new economic order, with its built-in features like project expense & progress tracker & employee work/hour monitor, xTimesheet is providing an easy-to-use & efficient solution for business-owners, of all scale & size. With the help of determination, pragmatism & xTimesheetyour business, too, can wade through this crisis, to emerge stronger & perseverant than ever.

Visit www.xtimesheet.com to know more

Worrying about Hourly Billing is a thing of the Past-The future is here!

Billable hours can be defined as the amount of time a business may spend on their projects & charge their clients accordingly, on the basis of an agreed-upon hourly rate. Businesses, agencies, entrepreneurs & even freelancers have adopted the billable-hours model to charge their clients for the services provided. To summarise, in order to charge by the billable hour, workers need to track the amount of time they spend on each client’s projects every day.

To feasibly charge their clients, any business would need to undergo the following stages:

  • Coming up with an Hourly Rate: Before the tracking of billable hours start, the hourly rate needs to be determined, in order for businesses to charge the clients for the work done. Start with setting a target for the annual salary you’d like to earn & do some research to make sure your target salary is in line with what the competition is charging its customers. Once you have a salary in mind, divide it by the number of working hours in a year. Upon determining the hourly rate, you may wish to raise it slightly to offset the amount of time you’ll spend working on non-billable tasks, like administrative work and client pitches.
  • Determining an invoicing cycle: The next step is to determine an invoicing cycle, that is, how frequently the client is going to be invoiced. An invoicing Cycle could be weekly, monthly, or annually.
  • Keeping track of time: Using timesheets to record your work hours, according to the project, will help you keep your accounting on track.
  • Creating a detailed & accurate invoice: A detailed invoice, mentioning each service provided along with your hourly rate, will make it clear for the client to comprehend the precise value they would be getting for their money.

However, undertaking these tasks & making sure that each stage is completed flawlessly, may turn out to be a monumental task.

Enter xTimesheet. xTimesheet has all the tools to help you manage your billing hours effortlessly. From tracking work hours to managing administrative expenses & generating invoices, xTimesheet has your business covered on all fronts. xTimesheet is suitable for businesses of all scale- Be it small or medium-scale firms, large-scale corporations, or budding entrepreneurs & freelancers, anyone can benefit from what xTimesheet has to offer.

Join for free, with up to 5 members, on www.xtimesheet.com or download the xTimesheet app on Google Play Store or Apple App Store.

Managing your resources in this era of uncertainty – the key to keeping your business afloat & steady

Today, mankind is facing one of its most tolling crises in history. The whole world has come to a standstill, with lockdown prevalent over the globe to prevent transmission of the COVID-19 virus. Economic activities have not been immune from this misfortune either. There have been large-scale layoffs across the economic sector along with stock markets crashing globally. Keeping your business up & rolling would be a colossal challenge in itself – but, if it’s done right with some tweaking and adapting, this crisis can be turned into an opportunity for your business to not just survive, but progress.

https://twitter.com/netsolutions/status/1257656290312060930

For this, strategic management of the resources you have at your disposal can prove to be the game-changer. Consumerism is going to undergo a massive upheaval with more and more businesses adapting to the digitalized model, to keep their customer outreach steady among the social distancing scenario. The poster child of this paradigm shift is none other than ZOOM, which has strategically focussed its resources on the video meeting aspect of its application and has reaped abundant benefits from this investment

But connecting with your associates is just one aspect of this strategic resource management, but there would still be many loose ends like staying updated on your expenditures, work hours, invoices, reports etcetera.

Emerges, xTimesheet, combining all these features into a single platform!

xTimesheet has a vast array of timesheet features including

1. Modern Time Tracking and HR Tools to Boost & Guard Your Business

2. Employees worked Hours/Expense tracking

3. Complete Automation to increase overall productivity.

4. The project worked hours statistics

5. Quick approval of employee hours

6. Invoice, Reports & Dashboards to facilitate easy monitoring.

7. Significant Reduction in administrative costs

8. Increased employee productivity

9. Different roles provided to the employees based on the role view of app changes.

With these features encompassed into a single mobile-based application, managing your business resourcefully from the safety of your home has never been easier!

SIZE DOESN’T MATTER- Play it Smart and Beat the Competition

It has been a common saying “Go big or go home”, especially among the business circles. Bigger has always been better, right?

Consider the case of PanAm. At its prime, PanAm was the largest airline, not just in the US, but in the entire world. Yet nothing could save it from bankruptcy in the late 20th century. With more than 22300 employees & numerous air routes spread out around the globe, mismanagement and unpreparedness led to its downfall.

Of course, Pan Am is just one of the examples where size couldn’t save these corporations from going into a rut. This just goes on to show how size doesn’t necessarily equate with productivity & efficiency. Productivity requires discipline, critical thinking, tracking & self-evaluation.

Quality always trumps quantity in this new era of business.

A well-managed team with appropriate tracking, consistency & accountability can do wonders for any business. There can be many parameters on which a company needs to be continuously tracked including timely project progress, expenditures, target vs achieved, work hours, and other KPIs. To solve this problem, we have come with a solution-xTimesheet.

xTimesheet is a mobile-based application that can help you track your expenses, project progress, approve employees’ work hours, invoice/report dashboard, and much more, all on a single platform. Appropriate monitoring of these indicators can help you scale your business to new heights, with no regard for how large your team is. Apart from these features, xTimesheet can help you create a community of up to 5 members, absolutely FREE!