Union Square One Year On
One year on, Stephen George & Partners are now beginning to enjoy significant benefits from their Workspace Project Accounting Software – a key component of their new Document Management System. The main elements of this investment were Timesheets, Fee Forecasting, Invoicing and a link to their Sage Line 50 accounting software. The benefits are:
The senior management team now have access to a tailored set of management reports, which provide a live summary and drill down to the key financial information they need to run the business.
All users have access to a single system that fully integrates the entire financial life cycle of projects. Disparate spreadsheets have been eradicated and everyone with management responsibility has one version of the truth to make reference to.
A universally liked, easy to use and fully adopted timesheet system combines time, expenses and holidays in one place.
Improved cash flow.
Commercial responsibility for projects has been distributed amongst the company’s senior staff.
Efficiency has been materially improved.
Michael Barker, Managing Partner commented, “Our old system provided an effective timesheet system but our plans to distribute responsibility more widely meant that we needed a system, that would also capture in real time the fee forecast across the whole office. Workspace enabled this in a very intuitive and easy to use way. We also wanted a system that would raise the invoices directly from the fee schedule and integrate seamlessly with our existing Sage accounting system.”