Project focused small and mid-size businesses have the advantages of speed and nimbleness when competing with bigger players, since accurate billing and fast response to customer queries are not easy for larger companies with more employees, costs, and resources to manage. A company that meets client needs in a fast and cost-effective way will attract business and increase profitability.
Clients Need for Speed
Most project managers strive to give their clients accurate project reporting and billing. At the same time, clients increasingly want instant gratification in a fast-moving, mobile-oriented world. Small to mid-sized businesses face resource and time constraints: recording employee time sheets, updating expenses, managing cash flow, ensuring no bottlenecks in the delivery of service, etc. However, small to mid-sized business’ size can be a competitive advantage if software solutions not available for bigger players are leveraged. The advantages of being a small to mid-size, project-driven organization are speed, accuracy, and nimbleness in project estimating, accuracy, completion and billing with the right software solution.
According to Entrepreneur:
“Businesses across… industries have quickly realized that speed can be used to develop a competitive advantage. Any time a business can do something faster than the competition, they’re going to experience some level of success.”
Mobile, Real Time, Built for Small to Mid-Sized Businesses
Beyond Software’s mobile application allows employees to instantly record their time and expenses, update project statuses, and write to-do lists while on the go, freeing up their time for actual, substantive project work. With Beyond, project managers have real-time access to data and can manage client expectations regarding schedules and costs, all from their mobile devices. Mistakes (such as project time mis-allocation) can be quickly and easily corrected before hours are approved, projects are affected, or additional billing costs ensue.
Customized, Accurate Billing Means Profitability
Mobile time and billing software shortens billing cycle times, which means greater cash flow as well as eliminating duplicate data entry and processing costs, and customers always appreciate faster response times. It is essential to deliver the right level of detail when invoicing customers, so Beyond gives you the ability to select from many different invoice formats to create an invoice with the level of detail that aligns to the customer agreement. Also, if a customer disputes a charge, the invoice can be easily reversed and re-issued with the correct charges.
There's no longer an excuse for inaccurate, depersonalized billing in the digital world. Gone are the days of sprawling Excel spreadsheets: instead, Beyond’s mobile time and billing software for project based businesses provides real-time, accurate reports as well as flexible and customized billing, all of which will please clients, bolster reputations, and improve company profitability.
For additional information on the project accounting solution to manage and analyze your project portfolio please contact: