Did you know that companies lose at least $50,000 per employee every year on untracked time? According to a study by Mckinsey, employees spend 42% of their time reading and answering emails, collaborating, and communicating internally. The hours spent on these tasks are often unmonitored and therefore, unbilled. As a result, businesses shoulder the costs …
Why Is Time Tracking Important? 8 Benefits You Need to Know Read More »
In the fast-paced world of professional services where billable hours often translate directly into revenue, the importance of effective time management cannot be overstated. Time is money. For professional firms, it is the currency that can either lead to success or contribute to failure. In order to drive higher profitability, business leaders need to determine …
Unlock Profitability: Time Tracking’s Crucial Role in Professional Firms Read More »
We already know that productivity is a key component in any company’s growth and success. It is a fundamental element in remaining competitive, resilient, and agile through any economic or market challenge. However, varying business industries measure productivity in different ways. Every organization needs to determine and develop a strategy that will be most beneficial …
How to Measure Your Team’s Productivity and Unleash Their Potential Read More »
Efficiently managing time is crucial in various aspects of business operations. This holds particularly true among HR teams responsible for payroll and manpower management. In typical company structures, HR is primarily responsible for hiring and recruitment, providing training, attendance monitoring, identifying loopholes in the organizational structure, verifying the accuracy of billable hours, and releasing wages …
How to Leverage Time Tracking Software for HR, Payroll, and Team Management Read More »
In the dynamic landscape of project management, success isn’t solely measured by completing tasks on time or within scope; it’s fundamentally tied to profitability. Understanding how to assess whether your projects are meeting their profit targets is essential for sustaining a healthy business. In this blog, we’ll explore various strategies and tools to evaluate the …
A Comprehensive Guide on How to Assess If Your Projects Are Profitable Read More »
Managing time and invoicing can both be major challenges for businesses of all sizes. Keeping track of how much time is spent on projects, invoicing clients accurately and timely, and ensuring timely payments can be a daunting task. In fact, 48% of businesses process over 500 invoices a month. That’s a great deal of work …
8 Reasons Why You Need an Integrated Time Tracking and Invoicing System Read More »
Within the many intricacies and moving parts in business operations, managing labor costs is a strategic imperative for success. The ability to monitor and control labor expenses in real-time is akin to holding the reins of profitability. Based on industry averages, the percentage of your operations cost that can be allocated to payroll is 20% …
5 Tips for Real-Time Labor Cost Management and Efficiency Improvement Read More »
Measuring performance is crucial to the success and growth of any organization particularly in this fast-paced, highly competitive, and tech-savvy economy. Done well, it will help you target the right clients, expand your business, leverage opportunities, and foster a healthy work environment. In fact, research proves that performance reviews implemented correctly results in 40% higher employee …
The Simplest Way to Measure Business Performance and How You Can Apply It Read More »
Time tracking and invoicing can both be major challenges for businesses of all sizes. Keeping track of how much time is spent on projects, invoicing clients accurately and timely, and ensuring timely payments can be a daunting task. In fact, 48% of businesses process over 500 invoices a month. That’s a great deal of work …
8 Reasons Why You Need an Integrated Time Tracking and Invoicing System Read More »
In this article, you’ll find: Relationship of Time Tracking with Project Management 5 Steps on How to Implement Project Time Tracking Introduction Efficient project management is an essential element of any successful enterprise. It is the most fundamental aspect that dictates the successful completion of a task or project. Effective project management is a key …
Project Time Tracking is Important – Here’s How to Do It Right Read More »
