Time & Billing

Although time is limited, most organizations fail at leveraging this asset to its full potential, costing them hundreds of thousands of dollars every year. Learning what causes them to lose time and how they can fix it will be an essential step for organizations looking to use their time correctly.

For professional services organization, maximizing billable hours can directly improve profitability and revenue. However, many fail to optimize this area. Here are some common pitfalls around billable time and the best practices that can be applied to avoid them.

In professional services, some of the most fundamental discussions revolve around hourly rates, monthly retainers, and project-based fees.

It is not uncommon for business owners to put concerns about their client billing processes on the backburner to focus on other more pressing matters. Unfortunately, poor billing practices can lead to financial problems down the line. To avoid that, here are some of the best billing practices you can leverage.

Want to uncover ways to save time, money, and resources based on the data your time tracking and timesheets reveal? Our advanced data-driven analytics can help!