Are you looking for a strategy to boost your team’s efficiency and productivity? Are you unsure which tools you’ll need to calculate project profitability? You may achieve this by learning how to implement agency timesheet software into your workflow and then selecting the finest employee timesheet app for your company.
Agencies who don’t see the value in using a time tracking tool are frequently the ones who require it the most. This is particularly true if they have small teams and budgeting concerns. These are just a few of the many reasons why PR firms should keep track of time.
Simply said, out-of-date honors systems fail to record critical data, resulting in a jumbled accounting system. Time management, according to some experts, is the key to a better life both inside and outside of the job.
Fortunately, getting started is simple. All you need is the best agency timesheet software.
Benefits Of Having Agency Timesheet Software
When you ask your employees to log their time, you get a clear picture of how they spend their time. You’ll be able to tell who’s overworked and who has too few responsibilities. You’ll also be able to see whether projects are at risk of falling behind schedule or going over budget. With these insights, you’ll be able to:
Stop Money From Leaking Out
If you don’t bill your clients using timesheets, you’re probably charging them too little. Many employees will neglect to report that they worked on a project for an extra hour or two. Unfortunately, when viewed at a monthly or yearly basis, these unbilled hours tend to add up. You can’t afford to have such money leaks as an agency. You can check what everyone has been up to using precise timesheets. There will be no work done for a client that goes unrecognized.
Improve The Usage Of Resources
Life at the agency can be hectic, and most staff are used to putting in extra hours. However, agencies should not overlook their employees’ workloads, as overutilization can have major implications. Employees who simply do not have enough duties to fill their days are likewise dissatisfied. You should aim to maintain a balanced resource consumption as a team leader. You can readily see who has too much on their plate and who is underutilized thanks to timesheets.
Invoice Your Clients Quickly And Accurately
A time and materials approach is used by several agencies to bill their clients. If that’s the case, you have no excuse for not keeping track of your team’s time. When you have correct timesheets, it’s fairly easy to generate an invoice from them. Your finance department will be ecstatic to have access to detailed project information.
Make More Accurate Estimates For Future Projects.
Although estimations are rarely *truly* precise, time tracking will aid in the refinement of your agency’s estimation process. First, review your previous projects’ estimations and actuals (planned hours and tracked time). Try to spot patterns: for example, it may turn out that your team consistently underestimates the project’s design phase. With this knowledge, you can more confidently create your next estimations.
