Let’s face it – You HAVE to track your time and the time of your employees. But time tracking (manually, that is!) kind of sucks.
The Reason for Tracking Time
Most agency workers fear that time of the day or the week when they must build and submit their timesheets. They know you have to do it: The Agency industry is built on billable hours. Even retainers are based on an understanding of how much time an agency will spend on a specific client each month.
NOBODY likes going back and looking at their past calendar appointments and emails to build their timesheets with very approximate results. No office manager likes to spend time guessing how many man hours a project took to complete.
We avoid time tracking at every opportunity, but eventually, time catches up with them. Some agencies have even gone as far as rewarding employees with free beer if they submit their reports on time.
The Benefits of time tracking
But why track time anyway? What’s wrong with the 9 to 5 timesheet or a simple timer?
Sure, you’ll find many solutions with timers and reminders on the market, but you run into the risk of forgetting to turn the timer on, off, pause it when you’re not working, toggling another timer for a different project. Online timesheets are also available, but they require employees to track time on every single thing they do
The average agency billing rate in the U.S. is $183/hour. Even if you have only ten employees who over service just two hours a week (an unbilled call here, a quick copy edit there), you are giving away nearly $200,000 in billable hours every year! Every year! Yes, there are times when strategic over servicing is required to support a key account or to build a case for future negotiation, but to over service -- and not realize it -- is completely unacceptable.
Not tracking your time correctly leads to underbilling, overservicing, unprofitable projects and frustrated clients and employees.
Reduce Underbilling and Overservicing
You need to make sure your timesheets and invoices are accurate and you are profitably billing your customer every single time.
Chrometa for agencies:
Now, here’s the good news
Chrometa is an automatic time tracker for documents, emails, applications, and sites you are actively using. The collected time is then allocated to your projects and clients using keywords and rules. You will know, in real time, how much time each project takes, how much time each employee has worked on the project. With Chrometa, you can generate timesheet reports for each project and employee, and invoice your agency’s clients accurately.
Here are other benefits of using Chrometa:
Employee Time Tracking
Employees spend about 5% of their time filling up manual timesheets. That is time you can save with Chrometa’s automatic time tracking software. Chrometa will also enable you to recover an additional 5-7% of billable time that your employees may have otherwise forgotten to add to their timesheets. Yes, automatic time tracking can help you get up to 10% more revenue every month!
Budget Tracking: Budget tracking is at the core of Chrometa. Each time a time entry is allocated to a project, your budgets are updated in real-time. Thus, you can identify problems before they get out of hand.
Project profitability for each client
You can calculate project profitability for each client by tracking cost in Chrometa. Just enter the individual pay rate or hourly cost for each employee assigned to the project in Chrometa. When you generate the project timesheet, you will get the accurate cost data for the project based on the hourly rates you have entered. Compare cost and profit to identify your agency’s most profitable projects and clients.
Over time, your agency will have solid baseline data for estimating costs for future projects so you can bid with confidence and be profitable.
Invoicing and Billing:
Chrometa has invoicing built into its software. You can accept payments through Chrometa if you have a Paypal, Stripe or Lawpay account.
Chrometa also integrates with QuickBooks and Freshbooks for invoicing.
Freelancers time tracking
Chrometa allows you to assign roles that will hide some activity from, say, a freelancer or part-time employee. That means they can only see the clients, project, and time entries they are working on.
Over the course of a full workday, you or your employees may get off track and fall down the internet rabbit hole. We’ve all been there.
If you lose track of time on a blacklisted site, Chrometa will give you a friendly nudge to return to work.
Chrometa allows you to integrate with many third-party tools such as Asana, Quickbooks, Freshbooks, Slack, Gmail, Google Calendar, Trello, JIRA, and many others, thus ensuring that all completed tasks are accounted for.
Chrometa will automatically track time and generate your timesheets and your employees’ timesheets. With time tracking on autopilot, you can focus on managing clients, growing business and increasing profit instead of worrying about how your team is reporting time.