Bookkeepers have become better at pricing contracts
Einfach uses time registrations as the basis for price estimations for new customers. At the same time, invoice potential and key figures are ready when they need them.
”It is important to give a good price estimate when we are in dialogue with new customers because we settle the hours we spent. TimeLog enables us to go back and find a customer with similar challenges and provide a more precise estimate.”
At the digital bookkeeping agency Einfach, TimeLog provides the opportunity to better price new customers, says CEO Grith Høegmark.
Many use the number of receipts when they provide an estimate. But you do not get the comments in this way and cannot see the work complexity.
Einfach assists their customers with financial guidance and offers a 360 service on everything related to finance. From invoicing to salary administration and bookkeeping and the accounts.
With TimeLog, she can find detailed information on the work done for similar customers in the past and hit the right price.
Comments on time registrations form the basis for price estimates
In Einfach, the employees track the time they spent on work for the customers in TimeLog. At the same time, they write comments on their registrations.
It creates transparency for the actual work done for the customers, and it forms the foundation for price estimates for new customers.
”Many use the number of receipts when they provide an estimate. But you do not get the comments in this way and cannot see the work complexity. Should we e.g. gather receipts directly at the supplier?
I often go back and look at similar customers to see how we actually spent our time”, says Grith Høegmark.
The time registration creates visibility and invoicing potential
Einfach helps their customers with all aspects of financial management. This means that often extra tasks appear in addition to the already agreed tasks.
With TimeLog, the employees add comments to all their work which is in addition to the regular tasks.
”You track time on the right tasks and add comments for everything extra. It is important for us when we provide full service, and it reflects directly on the invoices. This means that our employees can help on the extra tasks without us creating new contracts”, says Grith Høegmark.
At the same time, the invoicing potential is always available, as the time registrations are logged in TimeLog and can get transferred directly to Visma e-conomic through the free integration.
”The integration to e-conomic is good. It is very easy to send the invoices.”
Several of the customers also use TimeLog, and the integration to Visma e-conomic, like Einfach.
"For our customers, it provides huge value that they can transfer projects between TimeLog and e-conomic. It makes it easy to send the invoices.”
TimeLog’s reports provide key figures
Einfach helped several of their customers implement time registration matching their company, including TimeLog.
Grith Høegmark points out the reporting options as a reason why Einfach uses TimeLog.
”TimeLog provides good reporting opportunities. I get the figures I need versus other time tracking systems”, she says.
We need to move away from historical data. We need to make it simple and get the figures as quickly as possible.
At Einfach, they exploit the digitalisation’s options for real time reporting and analysis. With updated financial key figures, they create a basis for decision for the customers, which is only possible with real time data. And it calls for digital tools.
”We need to move away from historical data. We need to make it simple and get the figures as quickly as possible. Then the customers can react to the information immediately.”
Among TimeLog’s reports, it is especially the analysis of the employees’ internal and external time and the for customers, Grith Høegmark uses herself to see how Einfach performs.
Grith Høegmark primarily uses two report types to follow her business in Einfach.
Internal/external time:
Here Grith can see what they gain from their employees and where they make depreciations. Even though they have a focus on that they need space for internal time, Grith keeps an eye on the invoicing percentage.
Contribution margin:
Here Grith makes the contribution analysis for the projects. The report provides good insights into what Einfach earns on fixed price implementation projects for customers as well as for time and material projects.
Flex time:
At Einfach, the employees have flexible work times, and therefore Grith looks at the flex time reports to follow the workload per employee.
Thorough system and an open organisation
Einfach has used TimeLog for the past 12 years and have experienced the development the company has been through.
Among other things, Grith Høegmark emphasises that TimeLog has opened up and seeks dialogue with the customers.
”If I should add a headline to TimeLog, I would say it is a thorough and solid system. And they have an open service and gets close to their customer. They would like to be available and receive input from the customers,” Grith Høegmark says.
“TimeLog is intuitive, and there's a good connection between mobile, the desktop tracker and the web browser. And it's great that you can approve records and runs. So you can see what you have handled.”
