Whether you're an independent consultant, contractor, a consulting company or small business that bills its clients based on time and expenses, having an effective process in place to track all your billable hours and customer's expenses is a necessary requirement.
However, manual tracking has proven to be terribly inefficient: it's time-consuming, tedious and error prone - all of this is often only contributing to, instead of minimizing, the unforeseeable delays and additional costs.
Automatic tracking is the only solution to prevent leaking revenue. By having an efficient time and billing system, you will do less work managing time and expenses and consequently, free up your valuable resources for more productive work that will actually increase your bottom line.
The benefits of automated online time tracking over using Excel or Word based time sheets are obvious; simply put, using web-based time tracking software means: no more wastage of time and no more unnecessary drain on your business resources in time sheet and expense record maintenance and invoice generation.
Online expense tracking software saves you time. It can also clearly show where you or your employees are spending time. When you know how the time is being spent, you can allocate the time more efficiently. Each employee's output is now measurable in no uncertain terms - this can help in determining an employee's productivity. Knowing how long a certain task takes can make your future project estimates more accurate. With the help of an online time sheet, you can see what is done, how long it took, and what yet needs to be done - all at a glance. You will always know which employee is working on which project - that's indispensable, especially when employing remote workers.
Using web-based software eliminates errors from re-entering data. You can use it to evaluate client commitments and thus calculate project profitability. Also, diligent time
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