Professional55 to Automate Capture of Billable Hours

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Contact: Kim Ilao, Director of Media Relations
AccountingVoice
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E-mail: KimIlao@AccountingVoice.com

Eliminates Time Consuming and Error-Prone Task of Starting and Stopping the Clock
September 5, 2002 - Boston, MA - eGlean, Inc., which develops customizable time tracking systems, has released Professional55, a software program that automatically captures the time spent by accountants and financial professionals. Professional55 tracks time spent on the computer, on the phone, and in impromptu meetings and records that time to the company’s existing time and billing system without the user needing to manually start or stop a clock. The net result is more hours captured and attributed to the correct client and project, without forcing the professional to change his or her work habits.
Professional55 automatically tracks activities on documents, emails and phone calls in the background and fills in the electronic timesheet. The professional doesn’t have to record or remember when an activity was started or how much time was actually spent. Professional55 allows professionals to spend less time managing timekeeping or chasing down timesheets, and enables users to submit more complete and accurate bills to clients. It bridges the gap between billable hours and billing software and allows time entries to be exported to an accounting system at any time.
Professional55 is not intended to replace time and billing systems. Its unique design complements the existing time and billing system, ensuring that billable time spent on a computer or the phone, which is not always captured with traditional time billing systems, is accurately captured and made available for export and subsequent billing to clients.
Professional55 requires minimum installation. The software resides on a server inside the office, and is accessed through the Microsoft Internet Explorer Web browser, eliminating the need to execute installations on every desktop. No data ever leaves the office. Time records created with Professional55 stay in the server or the billing server so that nothing travels over the Internet, ensuring utmost security and confidentiality.
“Billable hours can be the lifeblood for most accountants and other service professionals,” states Ray Deck, CEO of eGlean, Inc. “However, accurately capturing the time spent by employees is a difficult task. Slippage and lost hours are profits out of management’s pockets.”
Time is Money
Accurately capturing the hours that billable professionals work in a day is crucial to managing profits. Professional55 addresses several potential sources of loss:
· Under-reported billable hours: Many employees will not count all of their hours, either through forgetting about certain activities or discounting items that “took longer than they should.” Professional55 captures time and moves that “discount” factor to where it belongs – a billing decision, rather than on the timesheet.
· Slippage: Recording time spent after the fact means dealing with fuzzy memories. “How much time did I really spend on that? Who was that work for?” This lack of precision in timekeeping affects ability to accurately bill – and to compensate. Through tracking activities in real time, Professional55 allows more time to be tracked with accuracy, reducing the issue.
· Detail: Tracking time on slips of paper means they can be lost – and fuzzy memories filling in a time sheet can glide over the particulars of which activity was what. That detail is crucial for helping clients understand their bills when they have questions, and for keeping them happy with the financial services rendered. Professional55 tracks time to the tenth of an hour on each meeting an individual has had.
· Time spent on timekeeping: Whether tracking time during each activity or racking memory after the fact, timekeeping itself can consume significant time that could be spent on value-added activities for clients. Professional55 automates the population of the timesheet, reducing its impact on workflow and productivity.
“Timekeeping is the bane of many service professionals who find that while it is important for profitability, it interrupts the natural flow of work,” continues Deck. “As a result, many employees do not track their time as they go, but rather fill in a sheet after the fact based on remembered activities. This leads to under-reported hours, slippage, less-detailed bills, and headaches as the administrative staff tracks down tardy timesheets. All of this detracts from profitability and is the reason we created Professional55.”
About eGlean
eGlean, Inc, headquartered in Boston, Massachusetts and founded in 1999, is a rapidly-growing developer of customizable, Web-based time tracking solutions and health care risk prevention software for the capture and analysis of data. Professional55 ( http://www.Professional55.com ) and Legal55
( http://www.Legal55.com ), are eGlean’s flagship products, offering reliable and accurate time recording for the accounting, professional services and legal industry. eGlean also offers Memberfocus ( http://www.Memberfocus.com ) an early-identification and patient profiling tool for health care organizations. eGlean offers high-quality software and their trained and experienced staff is committed to offering reliable, accurate and valued services to their clients. For more information about the highly respected software offered by eGlean, please call 617-423-0692 or visit the company’s Web site at http://www.eglean.com

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