Increase Revenue with Project Time Tracking | clockin

Project time tracking - a neglected tool

Project work is standard in the service sector, whether in the skilled trades, in consulting or in the care sector. Working hours are performed on behalf of a customer. But the hours are not always recorded separately. Even when a company has a system for time tracking, project hours are not necessarily documented in their own right.

Yet project time tracking is not a topic that should simply be swept under the carpet. We have put together 4 reasons why you should rely on project time tracking:

1. More revenue

In a study in the United Kingdom, the London Business School found that in the consulting sector alone 15% of chargeable work is never captured in invoices. So money is lost at this point by not recording exactly how many hours are worked on each project.

Over the course of a year, 15% can make a big difference. By recording project hours, invoices can be drawn up correctly, hours are not performed unpaid, and you receive proper payment for what you have earned.

2. Profitability

When it comes to profitability, it is important to gauge how profitable a project will really be. To do that you need not only to look at the revenue, but also to take a closer look at resource management and at measuring how long certain tasks or workflows take.

So in order to capture the reliability of your project, you have to draw on experience from past projects. You only get this data through clear documentation. The data is no help to you if it is stuck in paperwork chaos and gets lost. Digital project time tracking lets you get at this information with little effort, so that in future you can analyse your projects better and increase your company's revenue significantly.

3. Project management

According to a study by HAYS, almost one in six projects fails. In over 70% of cases the reason is poor project management. In project management, time tracking is useful for resource management and for measuring how long certain tasks or workflows take. So in order to deliver projects successfully – in whatever industry – you need information from previous projects. By recording working hours against projects, and also recording individual activities, clean oversight and the smooth delivery of projects can be ensured.

4. Working hours

A 2023 study by the GPM (Deutsche Gesellschaft für Projektmanagement, the German project management association) on handling working hours confidently in projects found that for almost 50% of employees doing project work, their working hours are determined by their projects – the larger the projects, the more they work. Only 64% of respondents use some form of time tracking at their company. Asked what the consequences of freely arranged working hours are, 60% said they work longer or more than they actually have to.

Working time tracking in general, but above all project working time, makes it possible to balance out these figures.

Digital project time tracking

clockin is the project time tracking tool for businesses where the work does not happen at a desk: skilled trades, construction, service, care, commercial cleaning. Your employees book straight onto the job from the app – whether on the job site, at a customer's or with a patient. What you get as a result is not loose timesheets, but complete project documentation you can actually analyse.

That changes three things in concrete terms: 

• Project profitability at a glance. You see which projects are profitable and which are not. This analysis is produced automatically from the recorded hours, without you needing Excel or a manual calculation.
• Better costing for new projects. When you know how long your team really takes for particular services, you cost new jobs more precisely. No more estimating on gut feeling, but on the basis of real project hours.
• From job to invoice without a break in the chain. Via direct integrations with sevDesk and Lexware Office you transfer the recorded project hours into your invoice in a few clicks. Not an hour is lost and you secure the revenue you are owed.

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