Eff factor brings a new culture in the firm where everyone knows what is to be done. Everyone knows not only the time within which he has to finish the assigned work but also the deadline for completion.

All this without somebody breathing down your neck from behind.

Everyone, whether junior most or senior-most, knows his responsibility and also knows that his performance will be assessed more objectively. This confidence across the organization makes the achievement of goals a truly collaborative and effortless exercise.

How can Eff factor project management work for you ?

MULTIPLE PROJECTS

A large number of similar projects of different clients say, income tax returns filing, can be created in a couple of minutes. This ensures the tracking of time costs and profits precisely for every project. And of course, meeting deadlines which are crucial in this profession.

RECURRING PROJECTS

Some work recurs every month (audits, GST returns), or every quarter (TDS, GST returns, audits) which needs project creation at specified intervals. Eff factor automates this with ease, saving considerable time and effort.

RETAINERSHIPS

Analytics report gives project-wise profit. It also covers retainerships which may involve the rendering of service continuously over a year and bills may be raised monthly/quarterly. Ongoing tracking of costs and bills by Eff factor gives you a perfect picture of profit ( or loss ) throughout the year for all such jobs.

CUSTOMIZED TEMPLATES

The steps involved ( referred to as tasks in Eff factor) in the execution of any job can be defined in job templates, to suit your requirements. And this can be replicated for all similar jobs to ensure quality standards across all jobs.

EVIDENCE OF WORKDONE

Eff factor with well-defined job templates and input of time data by people on the job(date stamped), with brief details of work done, may serve the purpose of solid proof – in case of a charge of negligence or in case of a suit for recovery of fees.

EFFICIENT WORKING CAPITAL MANAGEMENT

The automatic billing feature makes billing decisions more objective, well informed, and quick. This converts your WIP into Fees faster leading to improved cash flows. Smart reporting of WIP hastens this process further. Incidentally, WIP information may also be useful for complying with ICDS in certain cases.

PROFIT FORECAST

The profit forecast for the year and till date with its ongoing reconciliation with actual sales / fees and profit , is just the solution that all CAs are looking for. It guides you to take corrective action before it is too late. We call it wisdom ahead of time. It’s time to do away with all traditional periodic reports for analysis, a meaningless post mortem which do not serve much purpose.

PRESERVE IMPORTANT INFORMATION

The document management system allows the storage of important documents like quotations, contracts with clients, NOCS, and other project-related communications/ working papers.

You can also keep records of all oral/ written communications like changes in scope, reasons for delays, deferment of timelines, etc in “ Notes” as a part of the project.

Accountants & Auditors