Time,and,Expense,Tracking,Invo business, insurance Time and Expense Tracking and Invoicing Management in Organi

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Over the years, time and expensemanagement systems have become an essential part of all sizes of organizations.Employees need to accurately keep track of their work hour schedules so thatthe organization gets paid by the clients for the dedicated amount of time andexpenses for their projects. As the organization keeps growing, the employeestrength increases and so does the number and variety of projects handled bythe employees. Inevitably, it becomes a headache for the organization toallocate and optimize resources with considerable visibility to fetch themaximum output as well as to maintain the account receivables with utmostaccuracy.There lies the importance for a timeand expense (T&E) management system. This kind of a system can help anorganization to effectively manage T&E entries and timely generate theinvoices in order to keep the cash inflow running. An efficient application cankeep track of all the work hours based on tasks, projects and/or resources fora particular client in order to bill the clients correctly and timely. It canalso contribute to streamline the workflow at various levels of runningprojects. Organizations, big or small, are increasingly turning up to thirdparty providers or for in-house development team to implement T&Emanagement system as per organizational structure and project requirements. AccountSight is example of one suchapplication product that enables single users as well as organizations tomanage their project schedules and invoicing data efficiently.Employees, however, do not alwaysfeel free to use these applications. Most of the time, it takes a whole newsystem for them to understand thoroughly before they can actually fill thetimesheets up online. Often the T&E applications are complex and difficultto interpret for the users. It requires a lot of time to first learn the systemand then completing the process on a regular basis. Most of the employeesconsider this tasks as out of their project scope and nothing but waste oftime.Therefore, it is important fororganizations to opt for a system that is simple and easy to use. It shouldhave rich functionalities to track time and expenses incurred in projects,separately and together. There should be some efficient tools to analyze thedata stored in the system so that it can keep track of all invoiced andun-invoiced T&E entries and accordingly bill the clients for un-invoicedtime and expense sheets. For example, AccountSightprovides an effective dashboard view which helps to slice and dice all the dataand make reports of invoiced and un-invoiced T&E entries based on differentparameters. Also, convenience is very important for such a system. As employeeshave to submit timesheets on a regular basis, it is essential that they canadd, save and submit T&E entries as well as upload any necessarydocument/file without any hassles.Currently existing web-based orbrowser-based systems have some restrictions when it comes to convenience anduser experience. Such a system asks for certain hardware and softwarerequirements. Employees can full up timesheets only while working in officenetwork. But if an employee is working out of office or in some other remoteplace, he/she may not be able to login to the system and submit timesheets.This difficulty can be overcome bynewly emerging cloud based systems. A cloud based system requires no upfrontinvestment. A computer with internet connection will suffice. The system can beaccessed anytime anywhere as it demands no software or hardware. All the datais stored in the cloud and can be freely accessed. Employees, irrespective ofwhere they are working from, can simply login to a computer or a mobile and cansubmit timesheets on regular basis. AccountSightbeing a cloud based application offers all these advantages in order tooptimize the time tracking and invoicing process with minimal complexity.Organizations of varied sizes areincreasingly adopting time and expense management applications into their systems.Even individual professionals and freelancers who work alone or in small groupsare understanding the importance of such a tool that can help them tocollaborate more effectively with the clients and keep the payment system moretransparent. And with the ever growing complexity of organizational hierarchyand increase in clientele, cloud based applications are sure to make a bigimpression in near future in addressing the timesheet and billing managementissues in organizations. Article Tags: Keep Track, Regular Basis, Submit Timesheets, Cloud Based