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Retain WebTime
Case 1 - International multi-currency projects and assignments
 
 
Retain WebTime is structured so that:
 
  A single database can support multiple instances of the Retain WebTime/Expense software,each with its individual configuration.
  The time and expense transactions for each instance of Retain WebTime/Expense can be stored in source, base, plus any number of additional reporting currencies.
     
The above features combine to give:
     
  Real-time reporting for international project managers in the currency of their choice.
  Real-time reporting for regional managers in their local currency.
  Reduction in maintenance and administrative overheads due to centralized system management.
     
The table below depicts time transactions that have been recorded in the Retain WebTime database by various regional offices for projects 1001 and 1002.
     
Country or Office Project Recorded Time (hrs) Source Currency (Cost) Base Currency (Cost) Reporting Currency 1 (Cost) Reporting Currency 2 (Cost)
Germany 1001 10 EUR EUR EUR USD
Germany 1002 12 USD EUR EUR USD
UK 1001 6 GBP GBP EUR USD
UK 1001 13 EUR GBP EUR USD
Switzerland 1002 4 CHF CHF EUR USD
Switzerland 1001 17 EUR CHF EUR USD
 
Retain WebTime sets all time transactions with source, base and reporting currencies on entry, thereby making those transactions immediately available at all levels and locations of the organization for reporting purposes.

One of the key tools at the international project manager's disposal is Retain WebTime's built in Project Enquiry function, imagine it is Monday morning and you are that project manager. You need to know who has charged time to your projects regardless of currency, office or location of your staff.

What do you do..?

Relax and get a cup of coffee - with Project Enquiry you are only a few mouse clicks away from key project information.

Simply open your web-browser, log in, and make your way to the Project Enquiry function.

Here you have the option to view a summary of time units (hours, days,minutes)as well as source, base and reporting currency values of costs and revenues on all the projects you are responsible for. If you want to switch between one currency, time unit and another you are able to do so, if you only want to select time values at a particular status you are able to do so.

But you need more detail on a particular project, so you...

Drill down to the analysis level

for a more detailed picture, and you can now see a breakdown of the charged time by sub-project and task.

But you need to see who has been booking time to a particular sub-project, so you...

Drill down to the employee level

you are now presented with a list of the employees who have charged time to either all the sub-projects or tasks or a selected sub-project or task, with each regional office charging time to your project being separately identifiable.

Why has Jane in your UK office charged so much time to the project over the course of the last week? So you...

Drill down to the timesheet level

and this level of detail shows you the dates and amount of time units submitted by Jane against your project, along with any notes made against entries.

At all the levels of detail above, a manager can view project costings and revenues in the reporting currency of their choice. So, whilst the London office might have a source employee cost that is a mixture of Sterling and Euros, and they manage the project in their base currency of Sterling, a project manager armed with his laptop on the French Riviera can view real-time reports on those costs converted into the currency of their choice. Our system places no limit on the number of reporting currencies that can be set-up, so a wide variety multi-currency management information needs can be catered for.

The end result of all this is international managers have, at their fingertips, a real-time global picture of project status, whilst regional managers maintain the ability to manage projects in their local currencies.

 
 
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