There are many businesses that sell products or software and also sell services out there.  Many of them are still using spreadsheets to manage their resources.  For a small business who have a team of 5 or so employees and a handful of clients, spreadsheets can be an easily manageable system which can be adapted without fuss.

However, for a business looking to grow and become a big player in the industry, become an investment opportunity for a potential investor, or even a buyer for the business itself, spreadsheets become an issue.

One particular area where spreadsheets can become messy is in the process of staffing.  If your spreadsheets are outdated or have major errors, this can have disastrous consequences in the event of staff being under-utilised, clients being under-billed – or worse – double booking staff leading to an unsatisfactory service for the client.

 

Ineffective Traditional Methods

A traditional method of using a spreadsheet may involve a column with all the clients and the staff member working on them in the adjacent row.  It may even be a case of colour filling a cell with green (for available) and red (for unavailable).

But, the spreadsheet becomes ineffective if someone has forgotten to update it or if the spreadsheet is a file on a hard drive which only gets sent out weekly.  It then becomes more difficult to manage when the team grows by double or even triple.

These important decisions that are business critical must, therefore, be made with up to date and accurate information.  Businesses will also need to track skill sets and understand the capabilities of their resource.  This is something that is difficult to show on a spreadsheet.

This means that you will need to change your traditional method of resource management or risk losing out on many opportunities and ultimately money.

 

Accuracy is Key in Project Management

The only way to maintain data accuracy is to invest in an automation solution.  This will give project managers access to the exact same data and in real time.  In a staffing sense, this will allow everyone access to the availability of resources so essentially, knowing who is available and when.

Cofficient can help you easily set up projects with the use of templates and duplication tools.  As a result, you are then able to manage any changes and have complete flexibility over your projects.

For a business wanting to grow, this is essential as it allows them to see their projected profitability in aspects such as budgets, estimates, bookings, invoices and more.

The information is easily accessible and is available at the click of a button.  Not only that, but this is available in real time snapshots of projects and complete visibility across the board.

 

Streamline Your Allocation

Double booking resources is a major headache for any client-based business. Using a spreadsheet will increase the likelihood of this happening.  Fortunately, Cofficient can streamline this process and it can even track and allocate various resources by creating different booking types.  This detailed visibility goes further, as specific time frames can be allocated.

The result is a system in which there is no confusion or errors surrounding the management of resources.  At the very least, this provides staff with a clear idea of what they are working on and at best it provides a comprehensive solution in which clients are satisfied with the service provided.

 

Effectively Manage Your Timesheet

A spreadsheet which isn’t automatically updated becomes ineffective.  As previously mentioned, if you are a small team then managing a spreadsheet may work.  For a growing business, this definitely is not the answer.

Without the use of an effective tool to manage timesheets, clients may be under serviced or even under charged.  Using an automation tool removes this possibility as it can track time spent on activities which can integrate with the rest of your system.

Once the time is logged, it will then become automatically accounted for in your general system.  This in turn reduces time spent on admin hours and ultimately will save time and money.

Managers can also define approval levels, approve or reject timesheets and even allow staff members to self-reject timesheets giving them the power to take responsibility for their time.  An additional ease the solution provides is the addition of multiple time entries and bulk entries.  Again, removing mundane and time consuming tasks for staff.

The management of timesheets is essential for a young company as it provides them with the ability to estimate any costs and provides full transparency for any potential investors.

 

Achieve Your Business Goals

The benefits of switching to an automated system are game changing.  Overall it can increase profitability as the utilisation of resources becomes more fine tuned.  Thus, allocating the correct resources to the correct projects and avoiding any potential gaps in the team.

Greater insights into key operating metrics will be achieved due to the increased accuracy in financial forecasting.

The end goal, whether that is growth, or becoming attractive to buyers or investors, is a lot easier to reach when there are processes in place that provide transparency, up to date and accurate information and future proofed tools.

 

At Cofficient, we can create your bespoke solution which will allow you to see the benefits for yourself.  Contact us today to eliminate your spreadsheets.