As we’ve seen though, the costs, for most firms, is very high. If the costs are nonexistent and the data shows your spreadsheets are performing as expected the decision is simple. The difficulty that comes with the unexpected.
BILL4TIME ALTERNATIVES HOW TO
You know, the pain that comes from learning how to use an unfamiliar system for the first time. (b.) You’re not overbilling your clients accidentally and (c.) You’re accurately keeping time and you’re getting paid for it.īut, it’s a simple and straightforward way to confirm that spreadsheets are working for you and that you’re not losing money. Verify objectively that: (a.) You’re not losing money to billable leakage, errors and unnecessary non-billable work. If it’s actually working and you’re confident you’re not losing revenue, keep it.ĭo the calculations. Maybe you’ve customized spreadsheets to your liking, creating something that just works for your firm. Maybe it’s something you feel comfortable with. It should automatically convert appointments into time entries, tracking both billable and non-billable work. The ideal timekeeping solution tracks time automatically whether you’re at your desk, on the road or out of town. You avoid the $86,294 to $106,294 per person, per year that comes with relying on spreadsheets for timekeeping.Īs I said before, focus is the fundamental problem.
What makes this the best alternative to excel? Automatic timekeeping circumvents the usual problems and headaches that come with Excel timekeeping. It enables you to keep your focus where belongs. It gives you the as-it-happens reporting you need. A reliable timekeeping system preserves accuracy. This is the best alternative to excel timekeeping. I’m suggesting that you outsource timekeeping instead. I’m not advocating that you neglect timekeeping. If you neglect timekeeping you lose the ability to justify your invoices to clients. How can you reconcile this? The solution? Stop tracking your time altogether Focusing on clients means you’re not focused on accurately tracking your time. Yet, doing so takes your focus away from clients (where it rightfully belongs). 25% if you wait 24 hours to record your time.You lose 10% of your billable time if you record time the day of, once a day.The longer you wait, the more billable leakage (or overbilling) you experience. In my previous post, I showed that the research backs this point up as well.Īs-it-happens timekeeping is the most reliable (and most profitable) method. It leads to overbilling and billable leakage Reconstructing your time after the fact is inaccurate and messy.If you’re focused on timekeeping, you’re not focused on your client.