Group assignments, track expenses, and automate invoicing with Projects

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For staffing companies dealing with thousands of assignments from hundreds of clients, Projects offers easy tracking and management of different assignments, resources spent on them, and the revenues for the project for each client

Staffing companies are usually dealing with multiple assignments from multiple clients at any given time. Each of these assignments can have multiple employees assigned to them.

Tracking the progress of assignments, the time taken to finish them, the number of employees that are to be paid, the amount received for the assignments, the amount paid out to employees, can all become a bit overwhelming given the complexity of these operations. 

Oorwin’s new Projects module helps you easily track the progress of assignments, the amount received, and the expenditures for assignments from a particular client.    

Here’s how you can take advantage of Projects to easily track assignments and clients at scale, simplify billing and invoicing, and improve overall resource utilization.

 

Getting started with projects

Projects are created at the client level. Each client can have multiple projects and each project can have multiple employees assigned to it.

You can access all the existing projects by heading to the projects tab. To create a new project, simply click on the + icon at the top right corner and fill out the project details. You can also open any existing project from here to make changes to them. 

Once the project is created, you can allocate resources to the project by clicking on Assigned Employees to add employees. You can also select a project to see all the associated employees and their assignments.

You can also automatically create a project the moment you close an opportunity. When the status of opportunity is changed to won, you will now get a pop up asking if you want to create a project and auto-populate details like budget, client email, project information etc.

Also, you can now check all the invoices, see the total amount for the project, track budget, etc by heading to the Finances tab.

 

Project types to suit your client’s needs

Oorwin lets you create different types of projects based on the billing types for each client. There are four billing types for projects: Time-based, Fixed Recurring, Deliverables, Non-billable (Internal).

For time-based projects, you can add employees who have billable assignments. As we mentioned earlier, the invoices work at the assignment level, or you can have a single invoice for the whole project as per the invoice configurations at project level.

For fixed recurring projects, you can assign employees with non-billable assignments. You can define the invoice line item, invoice amount, invoice frequency, etc. 

For deliverable projects, you can assign employees with non-billable assignments. You can also define deliverable name (or service name or invoice line item), invoice amount for that deliverable, and date of invoice generation.

Non-billable projects can have employees with non-billable assignments. These projects will not have any invoice generated.

One thing to note here is that the receivables are always managed from projects while all payables can be managed from individual assignments.

 

Expense tracking and management at scale

Projects help you easily track and manage all the expenses and resources spent on the projects for each client.

Clients can be linked to projects at the time of expense creation. The expenditure amount is then included in the project invoice when the invoice is created for the client. 

 

Automated and manual project invoicing

Oorwin now automatically generates invoices for projects as per the configurations. You can also generate invoices manually just the way they are generated for assignment.

In case of deliverable and fixed recurring, line items are configured during creation of projects itself. The invoices are then generated based on the configurations at the project level and the dates provided. Just like assignments these invoices sit under drafts section:

For fixed recurring, invoices are generated based on effective date given in projects. For projects with deliverables, they are generated based on invoice date given during project creation.

For time-based projects, we will be using invoice cycles from projects and frequency effective dates from assignments to generate the invoices. However, frequency effective date (from assignments) is not applicable if a manual invoice is created (under a time-based project).

Lastly, you can also create an invoice for projects manually. Simply select the client, project/projects, and add line items to generate invoices.

 

Project reports for full transparency

Projects are now equipped with multiple reports and can be accessed from the BI Reports section under the HR module.

Project Resource Details report helps you quickly check all the employees who are part of this project and see all the related details like assignment status, pay rate, etc.

Project Invoices report helps you track the invoice details of each project or all projects together. You can quickly check the total amount of each invoice and the balance remaining, etc.

Resource Utilization report shows you how each employee is being used for each project. Under each project, you will see how many employees are working, how many hours each has worked, etc.

Project Payables report shows you how you’ve spent your money on each of the projects. This includes how much you paid employees for the project, the expenses, billings, etc.

Project Invoices By Client report tracks what clients have ongoing projects, how you have billed clients for these projects, along with the invoice amounts, balance, etc.

Project Expenses report helps you track all the project-related expenses. You can see your expenditure based on projects with expense name, ID, and all approved invoices.

We will be enhancing projects by adding forecasting of expected revenue using past data from fixed recurring and deliverable projects. 

So, watch this space for an improved way to manage assignments, projects, and clients at scale. 

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