Do you struggle to connect marketing activities to pipeline and revenue? Does proving ROI on budgets feel impossible? Timesheets.com comes to the rescue!
Key Takeaways
- Kiss manual data entry and post-it notes goodbye.
- Never undercharge clients again with detailed project insights.
- Uncover hidden profit potentioal with powerful analytics.
- Spot productivity bottlenecks that drain resources.
- Stop flying blind on resource decisions with data-backed insights.
Time is your most precious asset as a consultant. Yet without an efficient system to track and analyze time data, it’s far too easy to lose billable hours or undercharge clients. This unnecessary revenue leakage eats away at your bottom line year after year.
But what if you could capture every minute of value provided to clients? Enter Timesheets.com, the best time tracking software on the market. Our game-changing visibility layer will transform your business top to bottom.
Read on to learn 5 ways to boost profitability:
- 1. Automate Tedious Time Tracking
- 2. Invoice Clients Confidently
- 3. Uncover New Revenue Opportunities
- 4. Optimize Project Workflows
- 5. Enhance Resource Planning
Boost Efficiency
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Automate Tedious Time Tracking
Eliminate manual timesheet headaches with easy time entry. Custom categories and powerful reporting provide visibility into time spent on tasks, projects, and clients. Configurable alerts remind teams to log time, ensuring no billable hour gets missed.
Timesheets.com facilitates easy time logging with features like mobile apps for on-the-go entry, convenient desktop entry, custom categories and labels, status tracking for open, pending, and billed time entries, plus optional automated tracking based on app/system usage.
Transform timesheets into an analysis powerhouse with reporting capabilities including time breakdowns by employee, client, project, task, budget vs. actuals, customizable hierarchies, executive roll-ups, and exportable reports.
This time tracking process paves the way toward better efficiency for your client projects.
Real-Time Visibility
Still relying on fragmented static reports that lack crucial details by the time they reach your desk? With Timesheets.com’s project management tools, view timely performance metrics customized to your management role – on desktop or mobile.
Employee Time Utilization
Monitor capacity constraints and overburdening early on. For example, identify that Developer resources fall below target billable hours each Friday before core deadlines.
Milestone Tracking
Manage overall project health via automatic logging on key phases. Get alerts for milestones at risk – like Requirements Signoff delays holding back Architect resources.
Capacity Forecasting
Predict upcoming staffing and hiring needs by comparing current bandwidth to pipeline. Anticipate that sharp upticks in Sales won’t yet be matched in Delivery roles.
Revenue Dashboards
Watch for profit shortfalls in real-time based on employees falling behind utilization goals. Confirm training to get struggling team members back on track.
Mobile access empowers faster decisions and course corrections using a single source of truth. Optimize your agency this quarter!
Invoice Clients Confidently
Stop leaving money on the table with clunky time tracking tools. Timesheets.com’s automated tracking across all resources enables accurate client billing with reduced write-offs. Consolidated views in real-time dashboards show exactly what hours to invoice each client based on employee, project, task, and customizable labels.
Ever complete a massive client project and only bill clients for half the hours? Or reluctantly write off hard-earned time because records got sloppy? With Timesheets.com’s seamless time tracking tailored for consultancies, easily justify every hour invested.
Employee, With Hourly Rates Applied Automatically
With pinpoint precision, Timesheets.com automatically applies appropriate hourly rates to all captured employee hours for transparent resource cost tracking. First, assign permanent billing rates based on salary, benefits, overhead calculations, and more. Optionally override with custom client rates per project.
Sophisticated reports then allocate logged work hours across all resources, attaching the predetermined rates per person. See employee hours grouped into categories like engineers, designers, project managers, and administrators.
Exports demonstrate resource investment costs tied to hours worked with calculations substantiating standard margin applications. Provide executives clear visibility into profitability by engagement.
Automated billing rate integration eliminates tedious manual calculations tying into payroll and ERPs. Focus resources on delivery work knowing fair compensation for efforts gets systematically tracked in the background!
Project Milestone Or Phase
A titan among time-tracking software for consultants, Timesheets.com’s project management tool empowers teams to log efforts against a customizable set of project milestones like Planning, Requirements Gathering, Build, User Acceptance Testing, and Training and Maintenance. Capture granular activities within each phase as well.
Interactive dashboards showcase resources allocated and hours logged per phase or milestone. Easily produce detailed reports filtered by timeframe – weekly, monthly or quarterly – demonstrating continued delivery against retainer contracts.
For longer engagements, export split views that isolate efforts like production bug fixing or solution redesign to confirm investments required for change orders. With hundreds of underlying time entries auto-compiled into digestible milestone overviews, clearly align output to project health.
Give clients transparency into delivery momentum against outcomes, not just hours logged. And equip executives to assess investments in milestone terms during portfolio diagnostics. Timesheets.com helps teams plan, track, and report on project efforts with flexible, visual support for milestones.
Specific Tasks Or Activities
Tailor time tracking perfectly to your agency. Customizable activities within Timesheets.com allow teams and consulting firms to tag and track time entries to specific tasks, efforts, and work outputs. Consultants can specify critical items delivered and the resources that contributed.
Activity analysis reports illuminate which tasks required the most investment, helping highlight top contributors. For example, breakout engineering time spent on requirements gathering, feature building, bug fixing, or testing tasks.
Activity-specific time investment data aids resource planning and forecasting models. It also provides helpful client visibility. For instance, showcase hours invested in conducting user interviews vs. documentation.
Tagging entries offers flexibility – no need to reinvent rigid project management frameworks. Speed up project progress by applying multiple labels like Priority Client, Out of Scope, or Deferred Bill to customize reporting. Add and evolve activities on the fly as engagements progress.
Custom Categories Like Regional Clients Or Engagement Type
Take charge of flexible custom categories within Timesheets.com that enable further dimensions to dissect and filter reporting data. Consultants can enhance engagement taxonomy with additional codes like:
- 1. Location / regional clients
- 2.Project size
- 3. Fixed fee or T&M billing
- 4. Department, group or company division
- 5. Contracting vehicle like State TUAs
- 6. Product or service line
- Profitability potential
- 4. Vertical specific tags
Custom labels translate to dynamic dashboards and exports. For example, filter Mid-Atlantic client views to demonstrate delivery patterns specific to those accounts for strategic planning. See how collection cycles, resourcing needs, and growth opportunity metrics differ by customizable segments.
Categorize your portfolio to gain additional business management insights for more successful consulting!
Compare budgets to actuals so you can showcase full value delivered. With data backing up invoices, clients can visually connect work completed to fees billed. Achieve increased on-time payments, fewer disputed charges, and closure of revenue leakage gaps!
Uncover New Revenue Opportunities
Leave no stone unturned when it comes to driving growth. Detailed analytics spotlight new profit potential in unexpected places.
Timesheets.com analyzes past time tracking records to spotlight underserved clients ripe for additional revenue. The system also reveals services optimal for growth based on profitability and demand patterns over time.
Client Analysis
Granular visibility shows which clients have expanding budgets to support more services. Unearth untapped potential in underinvested accounts by assessing utilization rates to date alongside margins.
Specific analytical views provide client-centric insights to unlock growth potential including:
Expansion Readiness Dashboard
Highlights customer success metrics, loyalty/NPS scores plus TA rationale indicating likely tolerance for added engagement volume quarter to quarter.
Account Health Index
Combines budget visibility, current utilization rates, and profitability score into unified “runway” view of under and overallocated accounts needing shifts.
Client Profitability Waterfall
Illustrates net income over 3 years derived from a client plus indicators on project size changes and margins achieved, pointing to expansion limits vs. opportunities.
Potential Impact Simulator
Models hypothetical scenarios playing out growth initiatives against 10+ historical data fields to gauge probability of success.
Leverage 360-degree analytical views built for strategic client account planning – and take the guesswork out of expansion initiatives to drive profitable growth!
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Service Highlights
Don’t ignore expertise utilization analytics, which help you discover niche offerings ripe for expansion. Benchmark skillsets deployed on non billable hours and projects to spotlight underleveraged strengths. Assess service line ROI, growth velocity, and margin durability, identifying consulting mix adjustments needed to fuel growth.
Analyze capacity requirements introducing new offerings with consideration for bandwidth demands, capability gaps, and profitability projections. Quantify addressable market size by service line.
Purpose built analytics shine light on current leverage points across your specialization portfolio. They quantify growth runways for services based on hard data vs. assumptions. And they optimize expansion decisions for maximum ROI.
Transform service portfolio planning with facts, not guesswork! Uncover opportunities waiting untapped within existing consulting capabilities today.
Projections Dashboard
Key analytical views include:
Revenue Impact Simulator
Plug in assumptions adjusting team bandwidth, target client segments, service basket evolution, and seasonal curves to quantify potential revenue lift by initiative.
Market Share Calculator
Combine service TAM estimates with competitive benchmark thresholds to target share attainable given performance.
Client Mix Impact
Weigh data like expected contract values against acquisition costs and projected margin durability by client category to inform optimal customer profile focus areas and related expansion potential.
Growth Risk Metrics
Reference track record analytics quantifying performance volatility risk, delivery failed check rate, and historical success rates securing planned expansion forecasts.
Armed with data-backed projections, growth-oriented leadership can make decisions to optimize revenue expansion potential through focus on addressing the biggest risks and pursuing the highest return opportunities.
Transform growth planning with analytics built to tame uncertainty!
Optimize Project Workflows
Transform efficiency through Timesheets.com's powerful workflow analysis and process improvement toolkit. Diagnose resource allocation, surface delivery obstacles, identify productivity drains, and eliminate bottlenecks with:
Configurable Task Tracking
Customize activity labels to auto-capture detailed staff efforts. Gain visibility into task-level time investments – filtered by client, project type, department and date range – to right-size service delivery.
Handoff Insights
Assess cross-department handoffs to pinpoint friction points impacting velocity like development waiting on designs. Define optimal sequencing.
Milestone Management
Log progress against key signoffs. Configure alerts on slippage to course correct in real-time. Enforce phase gating to systematize workflow.
Context Switch Reduction
Automatically track toggling across meetings, emails, and focused work. Quantify distractions impeding throughput.
Capacity Modeling
Balance workloads against individual measured capacities to prevent delays from overburdening.
Productivity Benchmarking
Establish throughput metrics per employee and team for continuous improvement through objective assessments instead of assumptions.
Prescriptive Analytics
Analyze ancillary activities wasting direct project investment. Guide workflow redesign based on overruns plaguing output.
Eliminate chronic process headaches! Contact us for a demo showcasing optimization.
Improve Resource Planning
Build on data instead of gut feel for the smartest staffing choices. Are your resource investments paying off, or is capacity sitting unused while projects bottleneck?
Leverage insights on employee productivity and project demand patterns over time. Analyze utilization rates to right-size teams and strengthen alignment of labor to client workloads. Dashboard visibility into capacity gaps allows agencies to predict future resourcing needs with accuracy.
Key focus areas include:
- Workload Balancing - Ensure fair distribution based on weekly capacity and historical performance to prevent employee burnout.
- Skills Benchmarking - Spot which specialty skills are being over and under-utilized, representing opportunities to optimize investments appropriately.
- Demand Forecasting - -Predict upcoming staffing and hiring needs by comparing current bandwidth to near-term project pipeline.
- Hiring Projections - Justify and prioritize new hiring requests by tying directly to quantified capacity constraints reflected in data.
- Compensation Analysis - Incentivize top talent through personalized compensation aligned to actual productivity metrics delivered consistently.
- With these you can more easily identify overburdened employees to prevent burnout through measured capacity levels. Or spot specialty skills being underleveraged that represent an opportunity for targeted business development. Continually refine resource planning for maximum value delivery with the right time tracking app.
Conclusion
What if you could claim every ounce of value delivered to delighted clients? With Timesheets.com‘s robust functionality purpose-built for consultants, now you can. Seamless tracking, precision analytics, and workflow enhancements compound quarter over quarter.
Take back control of your most precious asset – time – with Timesheets.com, the platform that transforms hours effortlessly into ROI.
Frequently Asked Questions
How do consultants track time?
Consultants need automated time tracking apps like Timesheets.com to eliminate losing billable hours. Mobile apps enable easy hourly logging. Custom categories map efforts to projects and clients. Notifications prevent missed entries. Precision analytics uncover revenue opportunities and optimize workflows for improved productivity.
What is the best hour tracker for consultants?
Consultant time tracking software like Timesheets.com delivers robust consultant time tracking built specifically for consultancies' unique needs. Utilization analytics identify growth areas. Automated client billing with project budget comparisons prevents inaccuracies and disputes. Configurable alerts minimize lost billable time by flagging overflow early. User-friendly design means rapid team adoption for accelerated profit.
What are billable hours for a consultant?
Billable hours reflect consultants’ time invested on contracted client deliverables like meetings, development, or reporting. Teams should log time daily to prevent forgetting efforts. Timesheets.com facilitates seamless mobile tracking to minimize write-offs from gaps. Custom reports then directly correlate billable outputs to automated invoicing for easy client justification through transparency tied to outcomes.
