Financial Analysis with Low Code Data Science
The accounting and budgeting of companies providing services depends a lot on their employees’ timesheets data. First of all, their main costs are the payment their employees receive per hour (for example) spent on a particular task. Second, a company usually needs to agree on a project price before the project starts, without exact knowledge on how much time will be actually spent on the project. Budgeting, therefore, plays a big role.
The timesheets data can serve both to calculate the actual costs and compare them to the budgeted project prices. The timesheets from different employees are likely to be stored on a shared and reliable space, such as, for example, Google Drive, or any other.
Download and use the blueprint Timesheets Aggregation and Analysis from the KNIME Hub. You can use it as it is or adjust to your own requirements. It has been designed to:
- Access employee timesheets directly from Google Drive and access additional information about employees and projects from locally stored Excel files
- Join, aggregate, and group the data to calculate the company’s actual expenses and send them to P&L
- Analyze each project is analyzed for its profitability and reveal discrepancies between the real expenses and the price agreed on with a client
Resources
- Read the Blueprints for Finance Data Aggregation blog article to find an overview about the other blueprints we have for Finance Teams
- Download the blueprint Timesheets Aggregation and Analysis from the KNIME Hub
- Find more blueprints specialized for Finance, Accounting, and Audit on the KNIME Hub
