Get an overview of pros and cons of tracking time in Excel now
4 min read
When are you too big to use Excel for time tracking and project management? Learn when Excel goes from being a management tool to a waste of time and money.
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5 min read
Do you also use Microsoft Excel for practically everything: time registration, project and resource management, invoicing and – last but not least – analyses? Well, get the pros and cons now.
Many companies use Excel for time registration. Typically, each employee has their own spreadsheet for time registration containing a tab for each week. Each tab holds Mondays through Sundays with fields for entering events and time registrations. Spreadsheets like these are usually more or less automated as regards flex, allowances and travel expenses.
Spreadsheets are then typically saved to a company server for monthly data consolidation prior to invoicing. This consolidation is either performed manually or automated via macros. Using linked spreadsheets, data is retrieved from weekly timesheets or other intermediary sheets and analyses are generated into a report spreadsheet. The possibilities are almost endless when it comes to Excel. Here’s our top 10:
Excel is often used in companies with as many as 30 employees. These companies develop smart solutions for integrating Excel with their financial systems, email systems, etc., and voilà: Excel has become the production system for the entire company! Microsoft is undoubtedly thrilled by this, and if you ask the CEOs how Excel came to play such a pivotal role in the company, the answer is usually that they started out using Excel when the company was established.
Furthermore, Excel is included in the Office package, it’s highly flexible and it can be adapted to meet requirements such as certain data structures and analysis dimensions. Also, the Excel-based business system can be further developed by CFOs without the need for software developers and stringent standard-system frameworks.
Once a company nears 25 or 30 employees, the Excel era is coming to an end. What was once the obvious choice for time registration, corporate management and reporting has grown into a costly solution in the long run. Time registration errors are easily made, and quality-assuring all these data is becoming increasingly costly – not to mention determining who’s in charge of this crucial task. Ten minutes off a project isn’t much, but what if it happens three times? That’s half an hour wasted.
As the company grows along with its needs for complex calculations, the disadvantages of Excel become increasingly apparent. As such, there are a number of areas in which Excel does not shine. We’ve listed them here:
But for today’s national and international organisations, access, retrieval and reporting systems for managing key data can mean all the difference.
Can you afford to lose tenders to your competitors because you have yet to define the following:
These are just some of the points you should be considering – and you need to know if Excel can help you define them. Should you convert from Excel to an actual business system or not? There are no easy decisions; after all, Excel is highly diverse application which has probably proven invaluable for many years. Should you decide that the time has come to upgrade to a business system, however, we’ve put up a few blog entries which we hope will help you make an informed decision.
We can help YOU import business data from huge spreadsheets into TimeLog. If you’re interested, book a free online presentation of the system, and find out how we can help you keep track of time.
4 min read
When are you too big to use Excel for time tracking and project management? Learn when Excel goes from being a management tool to a waste of time and money.
5 min read
When are you too big to use Excel for time tracking and project management? Learn when Excel goes from being a management tool to a waste of time and money.
7 min read
When are you too big to use Excel for time tracking and project management? Learn when Excel goes from being a management tool to a waste of time and money.
10 min read
When are you too big to use Excel for time tracking and project management? Learn when Excel goes from being a management tool to a waste of time and money.
15 min read
When are you too big to use Excel for time tracking and project management? Learn when Excel goes from being a management tool to a waste of time and money.
10 min read
When are you too big to use Excel for time tracking and project management? Learn when Excel goes from being a management tool to a waste of time and money.
1 min read
When are you too big to use Excel for time tracking and project management? Learn when Excel goes from being a management tool to a waste of time and money.
13 min read
When are you too big to use Excel for time tracking and project management? Learn when Excel goes from being a management tool to a waste of time and money.
4 min read
When are you too big to use Excel for time tracking and project management? Learn when Excel goes from being a management tool to a waste of time and money.