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CNX Corporation Converts to TimeSolv  |
CNX Corporation is a Chicago-based company that offers information technology products and services to manufacturing companies. The company employs 12 project consultants who travel extensively to work with clients worldwide. CNX converted its entire consulting staff to TimeSolv in February, 2000, when it realized the negative impact its current time and billing process was having on management and profitability.
"We were spending way too much time pulling together individual timesheets at the end of each month," said Richard Milone, managing partner of CNX. "Since managers were not reviewing hours on a regular basis, we found anomalies that were difficult to address and reSolve once days or weeks had passed."
More than anything, CNX needed a time-tracking tool that could be accessed from anywhere in the world to accommodate its traveling consultants. In addition, the new method had to provide vastly improved visibility to managers, who were based in Chicago and had only a single opportunity each month to review consultants' entries.
"TimeSolv helps us tremendously by giving management instant visibility of our consultants' entries," said Milone. "Our managers started reviewing TimeSolv hours on a daily basis and giving consultants feedback within 24 hours."
Before discovering TimeSolv, CNX consultants used individual spreadsheets to track their time. At the end of the month, the company's billing coordinator undertook the arduous task of reviewing, consolidating and summarizing the billing information in a centralized database. CNX consultants now make TimeSolv entries on a daily basis from anywhere in the world, and real-time updates make management of the consultants infinitely easier.
With TimeSolv, CNX was no longer saddled with the problems created by their previous time-tracking method. The company realized some important benefits:
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- Increased efficiency: Consultants now enter time and expenses into a single database, rather than relying on a central coordinator to re-enter information at a different site.
- Increased accuracy: Without a second party re-entering information, the risk of incorrect entries was dramatically reduced.
- Better management: TimeSolv gives the CNX management team access to daily updates and visibility of missing time and other anomalies, a 100% improvement over a method that allowed only a monthly review of time entries. The related problems CNX was experiencing diminished exponentially within a matter of weeks once consultants knew their time was being monitored.
- Time saved: CNX has reduced the amount of time spent on the billing process from two days to about one hour, a decrease of nearly 95%!
- Faster remittance: Thanks to a shorter billing process, invoices are now distributed on the first of each month, rather than the third. Remittance has since improved by two days.
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| TimeSolv is helping an already successful company continue to grow. "We're thrilled with the steady increase in profits at CNX," says Milone. "However, before finding TimeSolv, we were right on the verge of a three-day billing process, and I'm certain that continued use of Excel spreadsheets for time-tracking ultimately would have had a material impact on the company." |
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