A growing company can’t be run the same way that a business was when it first started out. Evolution and business growth means a different approach is needed. With more customers and more employees the business needs to be managed just as efficiently and productively as when it had a handful of staff. What remains constant is the need to run your business expertly and maintain the high standards that made your company a success in the first place.
That’s one of the reasons a US-based healthcare education company turned to Timewatch when it needed to better track the factors contributing to its growth – and the bottom line. Timewatch provided a software system that allowed a developing employee base the ability to track their work time and expenses and log that data to specific projects.
“We create educational content for the healthcare industry and were a small business with a few clients before we grew to the point where we’re now around 120 people,” explains one of the company’s executives.
“We provide accredited continuing medical education to physicians and clinicians, doctors, nurses, nurse practitioners, and physician assistants as well as risk management education for hospitals and medical centers and quality improvement solutions to improve their processes.”
Glazer says the company initially managed its time tracking and expenses using an Excel spreadsheet. As the business grew it was recognized that a more reliable and efficient system needed to be implemented.
“It is about being compliant as well,” the executive says. “Anything tied to pharmaceutical industry regulations and anything connected to continuing medical education needs to follow a lot of rules and meet regulation standards. We have to follow a lot of rules and it’s now easy to track a project and our funds to meet those regulations. Having a dedicated system that can provide the data to do that is important.”
The solution was Timewatch Time®&Money software. Time®&Money allows employees to quickly and easily log expenses and allocate them to projects for managers to review and approve. They can log expenses to a project or recharge to a customer. Receipt images can be attached to claims and smartphone and tablet users can take a photo of a receipt and attach it in one simple step.
Time®&Money is designed to adapt as a company’s needs change. A business can upgrade to an advanced edition, add more users, or move up to Time&Space® to add resource scheduling. It can grow as a company grows or scale back as staffing requirements change.
“We found it intuitive and easy to use,” the executive says. “It doesn’t take long to learn. The interface is simple and clean and the system is flexible.”
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