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Accurate budgeting is crucial for small companies who want to gain and maintain control over their projects. Our new Budgets vs. Actuals Report is designed to help businesses by offering a detailed comparison of budgeted versus actual time spent on different work types across multiple projects. With this report, companies can gain valuable insights and make data-driven decisions. Here are three key benefits small companies can gain from using this report.
Comprehensive Financial Oversight Across Projects
With the Budgets vs. Actuals Report, you can easily monitor and manage time across multiple projects. By providing a consolidated view of budgeted versus actual time spent, this feature allows you to quickly assess whether projects are on track financially. This comprehensive oversight helps identify any budget discrepancies early, enabling you to make informed decisions and keep the project on the right track.
Better Resource Allocation and Planning
This report offers a detailed breakdown of time spent on different work types across projects, allowing you to analyze which areas are consuming more resources than anticipated. By understanding the actual distribution of time and effort, you can ensure that future projects are better planned and executed. This leads not only to better estimates, but also increased efficiency, as your team can focus their time and efforts where they matter most.
Improved Client Management
The ability to filter reports by client, manager, and other criteria allows you to tailor insights to in specific areas. For example, filtering the report by client provides a bigger picture of how your client’s overall budget is being utilized. In another example, filtering by manager will reveal how well their portfolio of projects is being managed and where they can make improvements. This flexibility improves client communication and builds trust by providing clear, data-driven updates.