Track Billable Hours Effectively And Earn More
It is generally agreed that professionals like attorneys, service professionals or consultants need to keep accurate track of their billable hours since these hours decide the income of the professionals and the success of their business. However, it is now being increasingly appreciated that even major business organizations have to track billable hours more effectively so that they can stop the loss of revenue from underreporting of hours.
Track Billable Hours
Companies track billable hours on customer projects as well as internal projects for the following reasons –
- By understanding how many hours are being spent on internal projects, managers can control the direction of the project better, understand which areas are lagging behind and bring about improvements in those areas.
- Companies track billable hours on customer projects to invoice them for the work that has been done on the customer project. However, this also helps management get an idea of the amount of time and effort it takes in completing a project of that nature. This helps them make better estimates regarding time and budget for future customer projects. Finally, keeping track of billable hours also helps in answering customer queries about billing, if any. This helps increase their trust in the company and build better customer relationships.
However, to track billable hours accurately is easier said than done. Often employees are working on more project than one. Time tracking not only becomes difficult but very demanding when they have to log into different systems to note their time. This results in employees underreporting their hours in an area where accuracy is most vital. When employees do not report their hours accurately, the organization ends up billing the client for lesser number of hours and thus earns less revenue. What is needed is a system that can track billable hours accurately, and is also easy to use for both the staff and management.
With more than 40 years of experience in the IT business, we observed that most employees today use the Microsoft Outlook calendar to schedule appointments, project meetings and even track projects. We believed that a timesheet reporting tool that could be used from the Outlook calendar would be much appreciated by employees and management alike. This is why TimeSheet Reporter provides exactly such a facility.
The Best Way to Track Billable Hours
With the help of TimeSheet Reporter, employees in any organization can simply use their existing Outlook calendar to track billable hours. They can schedule an appointment, meeting or task using Outlook calendar as they normally do and once the particular task is done they can simply submit it. TimeSheet Reporter not only makes it easy to track billable hours but also to add additional information about the task being performed so that supervisors can quickly approve of the same.
Management on the other hand can use the administration module to get an overview of the time entries. This helps them stay in control of the internal projects and ensure that customer projects stay on track.
By allowing companies to track billable hours more effectively, TimeSheet Reporter can help you improve your business efficiency as well as earn more.
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