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Product News - Enhancements to Global Cost Rates in Financial Manager

From Team '23

Tempo Team

May 17, 2023

In Financial Manager by Tempo, those with the proper permissions can globally set Cost Rates and Billing Rates by the roles defined for your organization in Tempo Teams Roles. These rates are used to calculate the cost of each team member's work.

Tempo has made some enhancements to how cost and billing rates are set including:

  • The global rates are now managed and maintained in a centralized page to manage and maintain global rates to better assist project managers.

  • Global cost rates can now be added with effective dates. (i.e. flexible dates for global cost role rates)

  • Roles and Rates under configuration are now renamed to Members and Roles.

  • The Cost Rates and Billing Rates screens will now have a toggle to “Apply Global Cost Rates” and “Apply Global Billing Rates” for respective screens.

More about Global Rates

Global rates can be applied throughout the organization and for all projects that are created in Financial Manager. Changes made to the global rates will affect all projects where global rates are enabled. The count of projects using the global rates is displayed to alert project managers of the number of projects impacted by the changes.

Fixed rates and multiple flexible rates can be defined for each role at the global level and similarly at the project level. Project-level rates can be defined for the same roles where project managers have the flexibility to apply project-specific rates to the team member roles.

To participate in Tempo's Early Access Program and gain access to new features before they are generally released, visit our TempoLab page.