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"Until we can manage time, we can manage nothing else."
~Peter Drucker, management consultant
Time is a precious resource, especially for consultants with multiple projects and clients to juggle. With each project's timeline and billing cycle, keeping track of time can be challenging. That's where time-tracking software comes in.
Time-tracking software is a tool that helps consultants track the time they spend on various tasks and projects. It allows them to monitor their productivity, allocate resources efficiently, and accurately bill clients for their services.
But how do you choose the right time-tracking software for your consulting business? Let's explore seven of the best time-tracking software for consultants in 2024 and help you make an informed decision.
The benefits of time-tracking software for consultants
According to Business Financials, the U.S. economy loses $7.4 billion (50 million hours) daily due to unrecorded work activities.
Yikes.
This alarming statistic highlights the importance of accurately tracking your time. Some of the key benefits of using time-tracking software include:
More accurate billing and invoices
Time-tracking software allows for precise client billing by capturing the time consultants spend on various tasks and projects. With this tool, consultants can eliminate guesswork and inaccuracies from their billing process, ensuring that every minute of their workday is accounted for.
This results in transparent invoices that accurately reflect the work done, instill trust in clients, and safeguard the consultants against underbilling. It simplifies the invoice generation process, saving consultants valuable time that they can put to more productive use.
Better project management processes
Besides billing accuracy, time-tracking software also provides real-time visibility into project timelines, task distribution, and resource allocation. It facilitates seamless integration of time tracking with project management, ensuring that all project activities are accurately logged and accounted for.
This cohesion allows consultants to track project progress at a granular level, spot bottlenecks, and make necessary adjustments on the fly, thus improving the overall project delivery efficiency.
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Greater client transparency
Clients appreciate and value transparency, especially when it comes to billing. Time-tracking software allows consultants to create detailed reports that give clients a breakdown of their time on various tasks or projects. These reports also help justify additional charges for out-of-scope tasks, avoiding potential conflicts with clients.
Valuable insights into your business
The wealth of time-tracking software data can help consultants gain valuable insights into their business. It can highlight potential areas of improvement, such as inefficient processes or low-productivity tasks.
Consultants can then optimize these areas and improve overall efficiency and project profitability. This data can also help identify top-performing employees and reward them accordingly, increasing employee motivation and job satisfaction.
The 7 best time-tracking software for consultants
Using a time tracker is no longer a luxury but a necessity for consultants looking to stay competitive. With various options available in the market, it can be hard to find the right one.
To help you make an informed decision, here are seven top time-tracking software for consultants to consider in 2024.
1. Teamwork.com
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Claiming the top spot is Teamwork.com, a comprehensive project management tool that serves as a one-stop solution for task management, tracking time, and facilitating effective team collaboration.
Equipped with an easy-to-use interface, Teamwork.com allows consultants to log their hours directly against specific tasks or projects. This ensures a robust billing functionality showing the time spent on each project.
Time tracking, deeply intertwined with project management, is a crucial aspect for consultants, and Teamwork.com's emphasis on this is a significant advantage.
As a result, the platform helps streamline time tracking by allowing users to record time spent on tasks seamlessly, start and pause timers as they switch between tasks, and even log time retrospectively.
Key features of Teamwork.com include:
Time logging reminders
Customizable reports with filters and tags for detailed insights
Integration with popular tools like Slack, MS Teams, and Google Calendar
Mobile app on iOS and Android for time tracking on the go
Automation options, such as auto-starting timers when a user starts working on a task
Pre-built templates for project planning and tracking
Pricing
Teamwork.com offers three pricing plans and one free plan. The paid plans are Deliver at $9.99/month, Grow at $19.99/month, and Scale (custom pricing).
2.QuickBooks
QuickBooks is a highly renowned accounting software widely used by small businesses and medium-sized consulting firms. It offers comprehensive financial management features and provides an efficient time-tracking tool.
You can log time spent on client tasks directly into the system, and they can then be allocated to specific invoices, facilitating accurate billing. QuickBooks also offers detailed reports that provide consultants with valuable insights into their time management and productivity.
Key features of QuickBooks include:
Integration of time tracking data with invoicing and payroll, streamlining financial management
Real-time data synchronization across multiple devices that ensures up-to-date records
Detailed reports that provide insights into time spent across various tasks and projects
Customizable invoicing options with the ability to add time entries directly into invoices
Pricing
QuickBooks offers multiplepricing options to cater to various business needs. You can choose Simple Start at $18/month, Essentials at $27/month, or Plus at $39/month.
3. Time Doctor
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When working with a remote team, keeping track of everyone's productivity and time management may be hard. Time Doctor is a powerful tool for remote teams that offers efficient time tracking, monitoring, and reporting features.
Consultants can easily track their billable hours with its user-friendly interface while monitoring their daily tasks and productivity levels. Time Doctor also provides detailed reports of your team members' daily activities and shows idle time and time spent on productive tasks, allowing consultants to optimize their team's efficiency.
Key features of Time Doctor include:
Automated screenshot capturing for accountability and productivity monitoring
Self-management tools that help users stay focused and avoid distractions
Integration with popular project management and communication tools like Trello, Asana, and Slack
Automated timesheets for accurate billing and payroll
Pricing
Time Doctor offers a simple, flexible pricing structure for various needs. The Basic plan starts at $5.90 per user per month, the Standard plan is $8.40 per user per month, and the Premium plan is $16.70 per user per month.
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4. Clockify
Clockify is a robust, user-friendly time-tracking software for consultants, freelancers, and teams. It provides a simple and efficient method for recording time spent on client projects, facilitating accurate invoicing, and enhancing overall productivity.
The software's ability to generate detailed reports allows consultants to gain insights into their time utilization, helping themmanage their work more effectively.
Key features of Clockify include:
User-friendly interface that allows consultants to start, pause, or stop the timer with a single click
Ability to add billable hours to specific client projects
Time tracking on multiple platforms, including Windows, Mac, and mobile
Detailed reports that break down time spent on individual tasks, projects, and clients
Pricing
Clockify offers a very competitive pricing structure: the Basic plan costs $3.99 per month, the Standard plan $5.49 per month, the Pro plan is $7.99 per month, and the Enterprise is $11.99 per month.
5. TimeCamp
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The TimeCamp platform is an all-in-one time tracking andproject management software that offers efficient time tracking, productivity monitoring, and invoicing features. Consultants can track billable hours, create detailed reports of their activities, and even automate creating invoices for accurate billing.
They can also set and track project costs, ensuring that projects stay within the allocated time and budget. TimeCamp can switch from automatic to manual time tracking, allowing users complete control over tracking and logging their time.
Key features of TimeCamp include:
Automatic time tracking and billable hours calculation
User-friendly dashboard that provides a snapshot of ongoing projects and tasks
Built-in invoicing system that facilitates quick and accurate billing
Google Chrome extension for tracking time across various online platforms
Pricing
TimeCamp offers several pricing tiers to accommodate different needs and budgets. They have a Free Forever plan, a Starter plan for $2.99/month per user, a Premium plan for $5.99/month per user, and an Ultimate plan at $7.99/month per user.
6. Harvest
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Harvest provides easy and efficient solutions for tracking project hours, budgeting, invoicing, and team collaboration. Consultants can track their time from multiple devices and set up recurring tasks for accurate time management.
It seamlessly integrates with various project management tools, allowing consultants to manage their work and track hours in one place, facilitating streamlined workflows and improved productivity.
Key features of Harvest include:
Efficient time-tracking capabilities
Built-in invoicing system that automatically pulls in billable time and expenses
Robust reporting features that offer insights into time spent on tasks
Automatic reminders for late payments and the ability to accept online payments through various payment gateways
Pricing
Harvest offers one paid plan priced at $12 per user per month, offers unlimited access to all features, and allows the management of unlimited projects. They also offer a free 30-day trial for users in which you don't need a credit card to sign up.
7. Time Analytics
Time Analytics is a comprehensive time-tracking and productivity tool that provides consultants with powerful insights into employee productivity. It enables consultants to accurately monitor the billable and non-billable hours spent on various tasks and projects.
You can automatically generate spreadsheets and reports to share with clients, offering transparent billing rates and accurate invoicing.
The platform also offers features such as hourly rate tracking, project budgeting, and cost estimation for improved project management. Time Analytics can efficiently manage all the time entries and expenses, ensuring no billable hours are missed.
Key features of Time Analytics include:
Robust time tracking capabilities with detailed reports
Expense management and project budgeting
Team collaboration tools for improved communication and efficiency
Ability to create customized reports gives users the flexibility to extract the data they need
Pricing
Time Analytics has two paid plans: Starter ($4.99 monthly) and Optimum ($6.99 monthly).
Optimize your time-tracking workflows with Teamwork.com
You can use time-tracking software to monitor your employee time, track billable hours, generate accurate invoices, and improve productivity. However, with so many options available, choosing the right one for your consulting business can be overwhelming.
This is where Teamwork.com comes in, offering all the essential features of time-tracking software. With its efficient time-tracking capabilities, budget management tools, and team collaboration features, Teamwork.com helps consultants manage their projects seamlessly.
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