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If you're going to stay on budget, everyone on the team has to have access to real-time cost information. Agency time, expenses and third-party costs all need monitoring and reconciling, and if they're all in one place, the account team and project managers know when to step in if there's a danger costs will overrun.
If you can get estimates, orders, expenses and timesheets onto the system quickly, and approve them, then you can reconcile quickly too, ideally daily or more.