The Challenge

TMX is growth-focused and needed a solution to streamline its financial processes with increasing timesheets and invoices to manage. Jeff's role at TMX was to implement a finance transformation; as part of this, he searched for new ways to improve efficiency within the business. Jeff identified that employees had to spend valuable time chasing up timesheets and approvals. This process wasted valuable time that teams could otherwise use for more critical work.

“Prior to the integration, the finance people would have to be chased up over multiple days at the month’s end to try and get timesheet records approved. This wasn’t sustainable.” — Jeff Askew, CFO

Before using Projectworks, TMX used Xero to control their invoicing, but knowing where and how resources were being used was still challenging. Project teams were recording time but not managing their time efficiently.

“There was no real ability to see who was managing what because it was a mechanism to record time as opposed to managing time.”

TMX needed a system to help understand where their team's time was spent, and who had availability to take on more work. On top of this, they needed a system to help them save time managing their timesheets and invoices.

The Solution

Since implementing Projectworks, TMX has seen substantial efficiency gains with the ability to properly manage its resources and understand where resources are going. During Jeff's time at TMX, the company has moved from operating in three countries to nine. In addition, they are now international and multijurisdictional. Projectworks has allowed TMX to manage this significant and rapid expansion successfully.

The integration with Xero is an integral feature for TMX. They use Projectworks to manage their projects, resources, finances, and export to Xero, all within one program.

“The one-to-one matching of invoicing into Xero is excellent. I don’t talk to the guys anymore about financial control reconciliation issues between Projectworks and Xero. Since we integrated Xero with Projectworks, there’s been huge efficiency gains, but the ability to have operational control over the Resource Management has been far more important.”

With Projectworks, TMX has simplified its resource management, giving them back the time to do the work they do best. Jeff told us that Projectworks "saves significant amounts of time. All the expenses are there. You've got PDFs, evidence requirements, and now I can go back on audit trails about approvals". No more wasted time chasing up timesheets.

Lastly, a bonus for TMX is the function to generate reports from real-time data. "I’m able to give the CEO what he wants to see and drill it down. We’re able to filter by team, which is the way that they want to see it.”

The Results:

• ‍Equipped to manage growth
• Ability to simplify processes and save time
• Best in class resource management

TMX is now ready for their next phase of growth.

The team at TMX is now equipped to manage future growth and spend time doing what they do best–giving their clients world-class business consultancy. They now have the tools to manage their resources efficiently and ensure their teams are working on the right things, at the right time. We are excited to continue supporting the team at TMX through their future growth.

If you are looking for a trusted partner who reliably delivers innovative business solutions, please get in touch with the TMX team via tmx.global.

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