The new Employee Realization feature allows you to measure the true revenue earned and profitability of employees, providing valuable insight into how well your company is able to translate direct hours on projects into revenue. This information can be used for company analysis, compensation and promotion reviews, staffing decisions, project and unit pricing and more.
With this new feature, you are able to report on realization values on all labor detail reports, utilization vs. realization percentages in the Time Analysis report, and against Planned utilization and Target Realization in Vision Performance Management.
The realization amounts are assigned to and reported against posted timesheets and labor adjustments. When timesheets are posted, the realization is estimated at the same value as the billing extension. The realization is then recalculated at the time of invoice processing or with Employee Realization Allocation processing. Both options are provided to accommodate billing methods that are milestone based as well as those that tie more closely to the effort expended on the project. Options are also provided to allow for manual calculation of realization values, or system proration based on the value, cost, or total hours of timesheet postings.