Karbon is team centered work management software that's focused in the accounting workspace with lots of integrations and partnerships like QuickBooks Online, Practice Ignition and Intuit Practice Management. With workflow and task automation time consuming activities will be cut to a minimum in order to give you the opportunity to focus on providing client services.
Karbon's most recent update 'Time & Budgets' now embeds this functionality directly into the workflows users create so that their teams can not only estimate time, but track it, in the exact same places where their work occurs. Karbon makes it easy to translate time estimates into dollars to that every job can quickly be priced appropriately. Of course this also means that you can compare actual job values with those estimated values to find out just how good a job you did at estimating.
Karbon Time & Budget Dashboard (Source: Karbon)
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Karbon also simplifies time-entry. Because time-entry occurs in the same place where team members are actually doing their work, rather than in another App or in some other 'tick-tock' time tracking location, the process or recording time is not only streamlined, but a lot more likely to get recorded accurately and when it's actually taking place.
Karbon's Capacity Dashboard (a benefit of Time and Budgeting) - [Source: Karbon]
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By incorporating time and budgeting into the workflow, you also have some outcomes that you otherwise wouldn't normally see from a system that just recorded time outside of the work management process. One of those outcomes is a process measure that reflects 'capacity', or your resource allocation. Where are your team members, are they working the correct projects, are some team members overburdened while others have too much free time on their hands? Is everyone working according to their skill level, and just as importantly, are you billing according to the skill level you need?
You also can get a measure of 'progress'. A lot of systems measure progress solely on the basis of $ of completion, but now you can view how the time is trending... is the project 'on time', and is it 'taking the right amount of time' or is it 'taking too much time', and is the 'time it's taking the right type of time'?
Of course Karbon also gives you the ability to analyze performance providing insights into those critical dollar-values that make your firm more profitable.
Graphic adapted from Karbon source content by Insightful Accountant for publication purposes only.
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For more information about Kabon's latest enhancements see this time and budgets webpage, you will have the opportunity to sign-up for a webinar, the first of which is 'today' September 3, 2020 at 5pm Central time. (Other dates and times are available.) And, for more details about Karbon's Work Management Software for Accounting Firms in general see their full website.