[Status: Launched! ๐Ÿš€] Budget calculation by hourly cost rate

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I am missing some calculation functionalities in your software. Would be great to add the hourly cost rate for each person. In our company the rate is different for each type of task. (Photography, graphic design, marketing task etc.). Maybe this rate could be added to ones profile which is then connected to the time spent and a sum is calculated.

An idea for overall calculation is to create a clean calculation custom field, which makes it possible to enter calculation code and make it possible to reference to other fields/custom fields.ย 

We are using another project management software at the moment, but are looking for a new one. We are very much interested in Wrike, as it is more dynamic. However, I am missing the calculation possibilities and more automated workflows where you create your own set of rules.

Thanks,

Pernille

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Stephanie Westbrook

Hi everyone, I apologize if you've seen me post in other threads, butย our Product Team is currently working on improvements for a better resource-planning and tracking experience. Weโ€™d love to hear your input!ย  If you have a few minutes take thisย quick surveyย and let us know your thoughts on howย we can serve you better.ย 

Stephanie Westbrook Community Team at Wrike Wrike Product Manager Erfahren Sie mehr รผber Wrikes leistungsstarke Funktionen und lernen Sie Anwendungsbeispiele kennen

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I already ask this 3 years ago, you tell me that is coming.ย 

Basic relations between columns is essential in the table view. (C=AxB)

Total 200$ = 2Hours@100$

ย 

So.. GO. We all need this feature. Its the only reason we check every year somewhere else.

ย 

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Hi, i would love this too. Hope you eventually upgrade this feature

ย 

ย 

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Stephanie Westbrook

Hi everyone, we recently releasedย Calculated Fields for Reports. You can use Calculated Fields to write formulas for data in Custom Fields and some system fields. The fields won't help in all of the cases described above but it will come in useful in some cases. Check it out and let us know if you have any questions.ย 

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Hi!

Can we get an update on the timing of a release with this functionality? In February, it will be a year since the Product's team has had this ticket. We all really need this. Wrike is great and this would add so much value to the software.

Please let me know how I can help.

Best,

Daniel

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Hey everyone, the status of this feature suggestion is "Investigating" for now, and our Product team is looking closely at it, so thank you for adding your votes and comments! I'll get back to you hereย as soon as I have more details. Also, please check out Stephanie's comment above about Calculated Fields - they might might be useful in some cases ๐Ÿ‘

Happy holidays ๐ŸŽ„

Lisa Community Team at Wrike Wrike Product Manager Become a Wrike expert with Wrike Discover

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Unfortunately Calculated Fields miss the mark for our organization by a pretty wide margin. We were under the impression when we were evaluatingย Wrike that this was indeed possible. After all, you can enter and track time, so it would seem fundamental to have a budgeting component as well.

Without any reliable way to track budgets based on specific hourly rates for specific users, I do not know that we will be able to continue using Wrike in the long run. Especially since there doesn't seem to be any timeline for this feature (2 years on, and no idea if there is even a timeline! Really?!), I don't know that we can hang on indefinitely.

At least give us some idea of what "our Product team is looking closely at it" means in terms of the anticipated rollout of this feature?

Thank you!

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I'm with Mr. Mathis...we'll be moving on to another product without a quick response in the coming days.

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Hi! Having just signed our team up for Wrike, I'm disappointed that this feature doesn't already exist. It means we will have to keep our previous subscriptions to other products active.

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Anyone got another product that can manage projects like Wrike that has time tracking and budgets etc. We have WorkflowMax and itโ€™s not great at project management but great for time tracking and costs. So looking at running both :(. Tried Insightly and thatโ€™s not good at project management as a lot of manual data entry required.

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As far as I can tell the Wrike Product Team have been looking at budget and tracking since 2016. I can only assume that after 3 years this functionality is not seen as important to the Wrike product. As others stated we are also having to use other products

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This is a crucial missing piece for our organization as well. Any updates you could share on the roll-out plan?

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Hey guys, I can't share a timeframe with you yet, the Product team is still in the investigating stage with this one. I just wanted to thank you all again, your feedback and use cases really help a lot. I'll get back to you as soon as I have news.ย 

Lisa Community Team at Wrike Wrike Product Manager Become a Wrike expert with Wrike Discover

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Lisa Boganova,

ย 

We received a presentation from the Customer Success Manager assigned to our account, and he said the Product team is expecting to roll out this feature in the next 3 months. That totally saved Wrike for us when he told us that, but now we hear something different yet again.

ย 

Y'all need to get on the same page and figure out what is happening with this. Many users are asking for it, and Wrike is sending mixed messages.

ย 

Thank you for your attention to this important feature request.

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@Tom Hi, sorry for the long reply here. I've spoken to your Customer Success Manager and he confirmed that he let you know that this feature is on our road map but there is no ETA available yet. I'm keeping a close eye on this thread and I'll let you know when there's more detail.ย 

Lisa Community Team at Wrike Wrike Product Manager Become a Wrike expert with Wrike Discover

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Adding a vote here, we are currently evaluating the software but this is a weak spot so may have to pursue other options

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Adding an up-vote as well. This is important for my team as well, so we can fully see budget, not just time spent. As has been said, different people have different cost rates, and as we develop a new cost price workbook, this is going to be very important for us to track. Additionally, we have different rates for the same role dependent on if they are an internal or external resource. I hope this is on the roadmap soon!

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Is there an ETA for this feature now?

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Seconded. Please provide a detailed update on when this feature is coming! This suggestion has been on the community pages for 3 years, it's time for some substantive answers from the Wrike product team on this.

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+1 for us.ย 

We are evaluation wrike at the moment for our 40 folks team. Without a build in budget functionality (and not custom field usage) wrike won't catch us...ย 

Sebastian

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Hi folks, a quick comment to let you know that we don't have any further info at the moment, but we will have an update in the coming weeks.

We'll post here as soon as we have some news, thanks for your input ๐Ÿ‘

Elaine Community Team at Wrike Wrike Product Manager Erfahren Sie mehr รผber Wrikes leistungsstarke Funktionen und lernen Sie Anwendungsbeispiele kennen

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I would also love to have this feature as it would close the loop between project estimation and actuals

ย 

Thanks!

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Is this an available option yet? We just started using Wrike for Project Management and would love to switch our time tracking/budget tracking over to this so we have everything in one place.ย 

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Hi everyone, thanks a lot for your support here, it helped a lot to prioritize the suggestion! The idea is definitely planned and on the roadmap for this year with no ETA available at this point. As soon as the team begins the development, I'll change the status to "In the making" here.

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3 years and still no way to track cost.ย  This tool is useless for project management.ย  Deal breaker for my team.

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I'm very sorry to hear you're disappointed, Bill K! The good thing is, this suggestion is definitely planned by the team, so it's going to be implemented. I'll let you know when I have more updates!ย 

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Hi everyone! I'm very happy to let you know that Budgeting is now released with Wrike for Professional Servicesย ๐ŸŽ‰ I've changed the status here accordingly - thank you so much for supporting this suggestion!ย ๐Ÿ™Œ

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I would add that it would be nice to set up different bill rates on a project level too. Some projects have different bill rates as our company continues to change our bill rates annually but we still have ongoing contracts from when our rates were something else.

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Hello Andre Herrero, thank you for sharing ๐Ÿ˜Š
ย 
Would you consider creating a new Product feedback post for your suggestion?
ย 
I'm recommending this since this thread's status is now "Launched" and through a new post, you can reach more Community members who might be interested in the same functionality.

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