Indian Journal of Science and Technology

Abstract

Background/Objective:In recent times most of the organizations are dependent mainly on the data. The effective management of the company is dependent on effective extraction of information from the data. The tool called Timesheet Management System (TMS) has been introduced in this paper which helps in automatic calculation of the Gross Margin (GM) and Invoice generation upon the button click. This results in the organization’s growth by reducing the manual work. Project under consideration plays a critical role in timesheet management system (TMS) so it can be considered as the project centric financial tool. This tool consists of developing the huge modules which explains the entire life cycle of the project from start to end date. This paper focus on 3 tier architecture which consists of 3 layers such as Presentation, Business and Application layers. Rivest. Methods:Adi-Shamir (RSA) algorithm is employed for secure computation of Sales Gross Margin (GM);Hibernate is used for Object Relational Mapping (ORM) that helps in mapping the .NET classes to database. Use of One Time Password (OTP) provides secure access to the timesheet portal. Findings: This paper mainly concentrates on designing and implementing Sales Gross Margin (SGM) creation, Gross Margin (GM) calculation and the invoice generation. This process includes allocating of the employee to the project by the concerned project manager which helps the allocated employee’s to access the timesheet tool. Authentication of the employee’s data will be done by the Project Manager (PM). Further the computation of Sales Gross Margin (SGM), Gross Margin and Invoice generation is done on monthly basis or after the completion of the project by the project manager (PM). All the processed data from project manager will be authenticated from higher authorities such as Subsidiary Business Unit (SBU), Account Receivable Team (ART), and Regional Sales Head (RSH). Finally, it leads to the creation of Sales Gross Margin (SGM), calculating the Gross Margin (GM) and the invoice generation. Application: Effective design and implementation of these three modules helps in tracking the profit gain in digital manner and helps in improving the profit gain. The TMS has a user friendly interface and helps to reduce the manual work in case of financial calculations. It can be improved further if the updated Cost to Company (CTC)is considered for calculating the Gross Margin.

Keywords: Account Receivable Team, (ART), Gross Margin (GM), Invoice Generation, Sales Gross Margin (SGM), Subsidiary Business Unit (SBU),Timesheet Management System (TMS)