Time Tracking in Professional Services
Time tracking in professional services
At the establishment of your professional service firm, you may find it easy to dedicate your resources and workers to optimize your team while satisfying your client’s needs. However, as the number of your clients and team grows, your time management needs also to change. Whether you manage or own an architectural firm, a law firm, an accounting firm, or an IT consulting firm, you will reach a point in the evolution of your business where you will need to strengthen your resources by tracking your workers time appropriately. Not forgetting the need to create client bills and track receivables.
Often, a new firm will start small, managing and tracking workers hours on a paper timesheet or even in handwritten records. The effectiveness of time accounting systems is usually an expense tradeoff. What most people don’t know is that the time it takes for someone to track and report on the employee timekeeping, analyze and report on trends, and to bill clients outweighs the expense of the software program. Therefore implementing time tracking software saves you agency a lot.
Traditional time tracking in professional services
In the past, time monitoring analysis meant a sizeable manual data entry and analysis using cumbersome tools. Since man is in error, a lot of mistakes arise from not being able to understand handwritten timesheets or misreading a clock. The use of timesheets and punch cards to track workers time leads to the professional company’s productivity loss. Imagine having to follow up employees for timesheets, then interpret and re-record each of those documents. For most business owners, this is time-intensive and costly.
Why use a time to track app like Timeero in professional services
You have probably heard the term, “time is money.” We like to monitor cash and product inventory continuously, yet we neglect to track time efficiently. For you who haven’t seen it yet, check out data that shows how much inefficient timekeeping impacts on professional services agencies. When people think of time tracking they often picture a mixture of manual timesheets, punch cards, and even the dreaded sticky notes. Technology has dramatically revolutionized everything in the modern world, yet time tracking for professionals who get paid based on billable time, have been left behind until now. Timeero timekeeping application helps consultants and professionals run their business smoothly. Timeero time tracking app is tailored specifically for client-facing and consulting firms. That’s why it comes with automatic time tracking feature so that professionals can do away with the old timesheet method and start keeping time automatically. With automatic time tracking application, it’s never been this easy to gain deeper business insight and get paid faster.
Benefits of using a tracking app like Timeero
You will gain deeper insight into profitability when data from an automatic time tracking gets subdivided by project, client, and category. The result is a more intelligent and data-driven optimization of service and product delivery. Clients can then instantly see what processes and services are high or low return-on-time, and calibrate accordingly.
To summarize it all, tracking your time does more than just saving time, it’s a powerful organization intelligence tool for consultants who are paid based on contracts and billable time used. By utilizing a cloud-based software, consultants and professionals can track time, invoicing clients, and achieve powerful team collaboration from anyplace and on any device.
14-day free trial
Our users tell us over and over again how vital implementing Timeero as a business strategy system has been in their business. Looking for a time tracking app for your business? We’d love to reach out to you. Call us today (888-998-0852) or sign up, now, for a free 14-day trial of Timeero’s time tracking and payroll app and cloud-based software.