Our mission is to digitize and automate the business processes of companies that invoice according to "Time & Material".
How the Time & Material business works
Consulting firms and agencies work on an hourly basis. They bill the customer for the hours they worked. A good time recording is the basis for invoicing. In order to correctly calculate a margin, the system must support two hourly rates per user (freelance or permanent) and project. One purchase prices for each user (freelance or permanent), and on the other hand the sales price that they can charge the customer.
Hours worked must always be approved by the customer. An approval process is essential!
Once approved, the hours worked can be billed to the client. And if the hours were worked by a freelancer, then they should get credit note if possible. The credit note procedure avoids the manual checking of incoming invoices in the back office. And ideally, the approved times should be transferred to the client's target system. This can be an SAP system, for example.
How ZEIT.IO can help
ZEIT.IO digitizes and automates these processes. With ZEIT.IO, both freelancers and permanent employees can be mapped. Purchase and sales prices can be stored individually for each user and project.
The approval process is completely digitized and the customer can be involved in the process. The customer approves the timesheets directly on ZEIT.IO! After a timesheet has been approved, the following processes can be fully automated:
- The freelancer receives a credit note for the approved hours. An invoice does not have to be created.
- An outgoing invoice for the approved services is automatically created and sent out to the customer.
- The approved times are automatically transferred to the customer's SAP system.
Different companies have different processes. ZEIT.IO can be flexibly adapted to your processes. From semi-digital to fully automated.