The challenge

A simple solution was required for automating the administrative and  accounts to gauge the month to month income versus expenses figure accurately.  Since Infofin's core business is in software development, the challenge lay in increasing the production capacity and at the same time keeping the administrative overheads low. Many accounts based software packages were evaluated and rejected owing to the fact that none of these seemed to be focused to the operations of a software development firm which needed to link expenses to the projects and products under development.  The biggest challenge probably faced was  in paying attention to the development of an inhouse project and assigning enough resources to the job.

The solution

Infofin initiated the effort of developing Infofin MIS in phases. The first phase involved capturing the information of day to day activities of each resource via the Timesheet module. These man hours were translated into costs (calculated as fixed costs plus the salary expense of each resource) and assigned to the projects they were working on. Other expenses of the organisation were captured and apportioned against each resource. The income received from each project offset the expenses incurred thus enabling Infofin to keep an accurate set of accounts and cost heads.

The features

• Resource

• Timesheet to capture the hours spent by each resource
• Profile and skillsets of each resource
• Projects that each resource is assigned to
• The person that each resource reports to
• Leave application forms
• Performance appraisal reports
• Accounts
• Fixed expenses
• Salary expenses for each resource
• Cash and bank balances
• Reports
• Time and cost per project
• Monthly expenses