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"Journyx provides web-based time & expense tracking solutions and project
costing management tools, allowing automation of business processes like billing, payroll and project management."
Source : Journyx
Time and Expense Management Applications
is also known as :
Time and Expense Management,
Online Time Expense,
Time and Expense Management System,
Web Timesheet Software,
Time and Billing Software,
Time Management Software,
Time Expense Management Information,
Expense Reports Software,
Time Management Solutions Leverages,
Time & Expense Software,
Web-based Time Expense Software,
Expense Tracking Software,
Control Your Employee Expenses Quickly,
Compare Time Expense Software,
Project Management Time and Expense,
Including Time Expense Management,
Time and Expense Management Desktop Downloads,
Time Expense Applications,
Tracking and Expense Management Functionality,
Comprehensive Timesheet Tracking Expense,
Time Management Solutions,
Enterprise Workforce Expense Management Solutions,
Better Manage Timesheets Expense Reports,
Reliable Time and Expense Tracking,
Online Time Tracking Management,
Tagging and Expense Management,
Time and Expense Management Software Delivers,
Expense Claim Software,
Easy-to-Use Time Tracking Systems,
Time and Expense Software Best of the Web,
Web-based Time and Expense Tool,
Time and Expense Entry Systems,
Timelive Time and Expense Download,
Billing Automation Expense Management,
Project Time Tracking Project Management.
To Build Or Buy
The question of whether to build or buy a time and expense management
solution is an ongoing discussion. Organizations of all sizes are tasked with
increasing efficiency and revenues in a timely manner. Naturally this leads them
to consider automation. The critical question then becomes:
Is it more beneficial to build a custom time and
expense management solution or to buy an existing application?
Overwhelmingly, organizations have proven that buying a solution results in
greater value and success. There are several reasons why organizations are
choosing to buy solutions: certainty of development and implementation costs;
the ability to deploy quickly; predictable maintenance and support costs;
assurance of best practices; and staying focused on their core business.
Known Costs
What are the costs associated with building your own time management
solution? This is a critical question that, unfortunately, is often grossly
underestimated. The cost of development is difficult to estimate at the outset
of a project. The internal resources allocated, project costs and time will vary
On the other hand, a purchased solution has a known cost that can accurately be
budgeted for. An added benefit t is the opportunity to preview the solution's
capabilities and features in advance.
Quick Deployment
Rapid deployment is critical if you want to begin realizing benefits
immediately. Building your own time management solution can take time, which
means adapting to rapidly changing technology, environments and staff. It always
takes longer and is more expensive to design and build a solution from scratch
than originally planned. Often the homegrown solution becomes obsolete before it
is even completed, while a purchased solution can generally be up and running in
less than a month. Customizing a purchased solution to meet an organization's
particular needs can also be done quickly.
Predictable Maintenance/Support Costs
Building an in-house solution requires staff to take care of the overall
maintenance and upgrades. Again, costs associated with this can be difficult to
estimate. Further, keeping pace with technological advancements is very time
consuming and challenging and takes critical staff away from the organization's
core business. Maintenance and support for a homegrown application requires
continual development, training and maintenance of staff with the skills to keep
up with the constant and rapid changes of technology. Maintaining a purchased
time management solution is a predictable cost that does not take staff away
from a business' core competency. The solution vendor has invested the time and
resources required to provide expert support for the solution throughout its
life cycle.
Rely On The Experts
Building your own solution generally requires recruiting, reallocating and/or
contracting a variety of technical resources. Although this type of solution may
appear easy to create on the surface there are many aspects, including approval
workflow, information security for pay rates and project completion times, and
human factors that are highly complex, especially in combination. Whereas buying
a professionally developed solution ensures that you have the benefits of
industry experts with years of specialized experience in design and development
to their credit. The vendor can leverage this industry experience and add a
variety of best practice functionality to the product. An established vendor has
experience gained from similar projects. Such experience is difficult to come by
for a single company.
Focus On Your Core Business
Building a homegrown application requires money, staff and time spent away
from the organization's core business. Again and again business gurus from a
variety of industries remind organizations to stay focused on their core
business to reduce costs and increase value. Purchasing a professionally
developed solution allows an organization to stay focused on their core business
while saving money, increasing revenues and gaining the added benefits of a
partnership with an experienced solution provider.
Still Not Sure Whether To Build Or Buy?
There are a few critical questions to consider when determining whether to
build or buy.
- Can the solution be purchased?
If the answer is yes, then
buy. Years ago there were a limited number of options for time management
solutions and/or they were not available at all However, today there are a
number of excellent solutions for organizations to consider.
- What is the best use of development resources?
Developers in
an organization are more effectively utilized building core system
functionality than spending time on solutions that can be purchased.
- Will the available solutions meet the organization's specialized
needs?
Generally one will find that the vendors offer products that
are designed to deal with common situations and issues. As a result one
should not be overly concerned with the idea that the organization's needs
are unique.
- Does the solution or function add competitive edge or advantage?
If this were the case, then absolutely the solution should be built. If not,
which is almost always the case when considering time tracking solutions,
then by all means buy it!
Commercial time tracking solution advantages include known development and
maintenance costs, quick deployment, and leveraging the best practices. The
result is a flexible, functionally-rich purchased solution that includes
professional, reliable support and maintenance.