Effective allocation of and adherence to budgets is critical but challenging, particularly for businesses with a wide-spread workforce. The key to effective budgeting is a solution that allows for the easy setup, input & management of budgeting data while providing visibility, control and analysis at the scheduling and reporting levels. TimeTEQ budgeting allows for flexible input values with a multi tier configuration. This ensures greater visibility of scheduled costs vs budget enabling more proactive management.
Budgets can be set up to accept one of three input types: labour cost, labour hours or even labour vs sales percentage.
At a scheduling level, a user is able to reference the build progress against the appropriate budget data. For example, this may include the labour budget, the schedule costs and the variance between the two. Variances are clearly highlighted in green if under and red if over. Other optionally displayed data includes forecasted sales, labour vs. sales budgeted and scheduled, sales/man hour budgeted and scheduled, hours budgeted and scheduled etc. |
