How do you know when you need to hire new staff? How busy is a certain team? How profitable are my recurring clients, especially those AYCE agreements? Are we caught up on all billing?
There are a few things that need to be correct to answer those questions, but one of the biggest ones is proper time entry.
So why is time entry so important?
- Get REAL and ACCURATE time that shows billable work, non billable work, and utilization. When this information is available you can confidently make decisions on hiring, allocating resources to where they are needed and have accountability among the team.
- Invoicing/Billing is accurate and current. How does a company get paid? By billing out the work completed! If you do not have current and accurate time entries, this slows down the billing process which slows down payment to you. It strains other departments when the work is incomplete or incorrect. Clients want accurate and current invoicing as should you.
- Performance Reviews can only be true and meaningful when time is entered properly to account for down time/no bill hours and billable time. You can find out who is underperforming, over-performing and who needs some training on specific skills.
- Documentation is invaluable, especially in certain industries it could be mandatory. Without current and accurate documentation, work can be duplicated, excess time spent trying to figure out what was already done, client frustration if they are asked the same questions and so on. Proper time entries can also be used as evidence in disputes.
- Happier Clients! With current and accurate time entries, you can rest assured your clients are up to date on the status of their tickets or projects, giving them confidence in the services provided by you.
Conclusion? Time entries play a pivotal role in supporting not only clients but all departments within your company. It will foster a culture of transparency, accountability, productivity, and client centricity; all pivotal elements for success in this competitive industry.
Need help with implementing and training your team on time entry? Contact Pivotal Crew to see how we can help you!