Important Time Tracking Features for Agencies
Time tracking tools are essential to maximize your agency profitability. If you are having a super productive day, it can feel like it’s getting in the way, and if you’re having a tough day, time tracking can serve as a reminder of how little you’re getting done. Despite controversies surrounding the issue an increasing number of agencies using time tracking software to significantly improve productivity, balance budgets, automate and optimize work.
As most agencies’ workforce makes money by selling time. Your time is the most valuable asset that you provide to the company you are working for. In this blog, we will highlight why timesheets are important and how this can help your team increase productivity, measure the profitability of projects, and at the same time allow them to work freely and independently.
Important Time Tracking Features For Agencies
Invoicing: If your agency bills by the hour you want to simplify your billing workflow as much as possible. You will want time tracking software that either has invoicing built-in or integrates with your invoicing solution.
Budget: Budgets are integral to tracking the effectiveness of your team. The goal of time tracking is to help identify which projects are making you money and which are not. This makes budget tracking one of the most important features for agencies.
Freelancer Tracking: Many agencies will employ freelancers part-time or as needed. If your agency does this, you’ll want to make sure your time tracker allows for various levels of permissions so they can’t see all of your projects and clients. You will also want to make sure they can enter their time directly without it costing you a lot more to add them to your team.
Project management integrations: Another important piece to reduce the friction in adopting a time tracking solution is an integration with your project management software. With a solid integration, you can avoid copying in all your projects, people, and to-dos. There are also integrations that will allow you to track your time from within your project management software.
Price: If your Agency can just capture one or two more hours a month you can fully pay for your time tracking software, but price should still be a strong consideration.
Employees of agencies need to have flexibility and freedom of work. Making them follow strict procedures related to tracking time may limit their creativity. That’s why you need a simple, non-invasive, and visually appealing software. With Pegasus Edge System software not only does our platform pack all the features you want as time and job management, but it has other integrated functions which improve efficiencies, such as time entry. We also have production tools which include time and cost transactions, production invoices, order management and over 15 reporting tools just for the production team.
Pegasus Edge is nearing completion. The exciting part is we are working to add more utility to this web-based version, allowing users to understand their business intuitively and quickly. Our goal is to make Pegasus Edge the industry-leading tool which ultimately improves decision making and allows financial professionals to transmit key intelligence to those who need it when they need it.
How can we help?
At Pegasus Systems, our focus is on helping Marcomms Agencies to improve their software systems and as a result, their time and operation management. If you would like any insight please Contact Us.