Time tracking is a critical business function when you’re a consultant. Under-bill, and you’ve left money on the table. Over-bill, and you’re compromising your integrity. There are multiple ways to track your time – from annotations in your Google calendar to spreadsheets or scribbled records on a piece of scrap paper. However, none of these methods are as effective and helpful as time tracking software for consultants. Here’s what to look for if you’re ready to make the switch.
Five Essential Elements of Time Tracking Software for Consultants
- Built-in Time Tracking: The most accurate way to track your time is with a stopwatch. Time tracking software with one built into the platform lets you keep track of time and log it automatically. You’ll be confident that your recorded hours are accurate when you choose software that includes this tool.
- Time Tracking by Project or Client: Consultants rarely work for one client. Often, you’re splitting time across several different projects. It’s ideal to use a time tracking platform that allows you to assign time spent to a particular client or project. This keeps everything clear when it comes time to invoice clients.
- Remote Access and Mobile Compatibility: Some consultants work on-site, others work from their office, and others work remotely from anywhere. Choose a cloud-based time tracking software so you can log in from any location and make sure it has a mobile-friendly interface so you can log your time immediately using your phone’s data connection. You may not have your laptop with you, but you always have your phone – and the sooner you record your time, the more accurate it’s likely to be.
- Easy Invoicing: Admin time is unpaid time in the consulting world. A time tracking software that automates some of your most time-consuming business functions will reduce time spent on administrative tasks and free up more time for billable hours. Choose a platform that easily converts logged time into invoices so you can send them out and get paid faster.
- Time Use Analysis: Consulting is always a bit of a guessing game. Your clients want to know how much it will cost to complete their project and you want to be sure you’re getting a fair hourly rate. Choose time tracking software with built-in reports to help you analyze your profitability and give insight into time spent on individual projects. This will help you give more accurate bids to customers who hire you on an hourly basis and help you develop data-informed pricing for per-project quotes to make sure you’re not short-changed. There will be fewer surprises for customers and you’ll be paid what you’re worth.
Time Tracking Software for Consultants
MindSalt Time & Expense is the perfect time tracking software for consultants because of its ease of use. The user-friendly platform automates the most tedious business functions, like turning hours into invoices with the click of a button. Organizing is easy when you can assign hours to a particular project or client, and built-in reports make developing quotes a breeze. All of this on a cloud-based, mobile-friendly platform means you can spend more time working for your clients and less time stressing about the details. Try it for free and experience the difference!