Benefits of Time and Billing Software

Time and billing software is a class of software enabling users to record time on day-to-day tasks. Ideally it’s designed for anyone working as a freelancer, lawyer, or accountant. Businesses of varying size would benefit from using the software. Never lose out on unbillable income again!

Improved task management

This feature is best utilized by members of your team required to execute multiple tasks on behalf of clients. Time and billing software enables you to track total time spent on each task, prioritizing the ones which require more urgent attention. Companies of all sizes benefit from this function by improving multitasking capabilities. This will ultimately lead to better workflow and improved productivity.

Accurate client billing

Accuracy in billing is vital in order to maintain the integrity of a project. Time and billing software makes it easy to track time with respect to billable hours for each project, task, and client. This ensures transparency and most importantly, accurate invoicing.

Monitor employee’s contributions

Managers can determine impact of individual employees on any particular task. For each stage of the project the software logs time from an employee. This ensures accountability as well as preemptively identifying shortcomings prior to completion of a project.

Accessible time sheets

Timesheets are accessible across multiple platforms (tablet, mobile, and desktop). They enable businesses to track productivity for any particular client at any point in time.

Payroll Accuracy

Employers can process payroll using data collected from the software. It helps employers confirm staff members receive accurate compensation. The software is also helpful for employees who work a nontraditional work schedule (9:00AM-5:00PM). In such cases, employers find doing manual processing of payroll tedious and time-consuming. Through the use of time and billing software, they can avoid these difficulties.

Reduce business cost

Reducing overheard is important for every business. You could identify where costs are redundant and eliminate them. In real time a manager can identify through various reports where resources are being spent. Doing so will boost profitability and identify potential time management issues.

Increases overall company time management

Time and billing software allows employers to manage projects and deliverables. Depending on your software provider, they could also come equipped with special tools that furnish business intelligence reports. Additionally, functionality such as document depository, industry codes (LEDES, ABA), and outlook integration could also be included. Time and billing software will increase overall performance of your business and optimizes client satisfaction.