Agency time tracking can be a difficult thing to do, but it is necessary if you want your agency to succeed.
This blog post will give an overview of agency time tracking and its features so that you know what to look for when selecting the right service for your agency.
We’ll also discuss some of the most important things that agency owners need to keep in mind about their time tracking software.
Agency Time Tracking:
Agency time tracking is the agency’s way of monitoring and recording how much work employees have done for a specific client.
It can be used to track billable hours, working hours or total man-hours that were spent on a project.
It also helps agency owners keep their finger on the pulse in terms of deadlines and deliverables.
Significance of Agency Time Tracking:
Agency time tracking can be a great way to ensure accountability among employees.
The agency owner will know who is working on what, and this allows them to also hold their team members accountable for the work they produce.
In fact, lack of agency time tracking might make it difficult for an agency business owner to find out when somebody isn’t pulling his weight in terms of productivity.
This software helps agency owners create more transparency within their company so that each employee knows exactly how much work he or she has been assigned by management.
Employees themselves have access to all relevant information about deliverables and deadlines, which makes communication with clients easier as well because everybody is aware of what needs get done in a timely manner.
Employees also get a sense of agency owner’s expectations and how they measure success, which makes them more likely to perform better because it incentivizes them.
The agency business itself can benefit from agency time tracking in the form of increased productivity and reduced costs.
2) Increased Productivity
Agency time tracking can also help agency owners increase employee productivity.
It allows agency business owners to assign specific tasks and projects on a daily basis so that employees don’t waste any of their working hours, which is especially important if they’re billable hours or man-hours being tracked by the agency.
Everyone understands how much time remains until his next deadline, which makes it simpler for him to plan out his day accordingly so as not to miss the management-set target date.
In addition, time sheets detail expectations on both sides – clients know what types of goods they should anticipate from an agency and agencies understand exactly how much work is required to finish the project ahead of schedule.
Agency time tracking can also help agency owners increase employee productivity by identifying which employees are slacking off or not working as hard as they should be.
This information can then be used by agency business owners to provide feedback and coaching to their employees so that they may improve their overall productivity.
It is worth mentioning that a well-run agency will have less need for this type of corrective action because its employees will be more productive from the get go.
3) Improved Communication with Clients
A agency time tracking software can also help agency owners improve communication with clients.
It provides a clear picture of how much work they've been assigned and when, allowing business owners to better plan their workloads and schedules – including future projects – as well as satisfy agency customers' deadlines.
Because agencies employ this sort of technology on a daily basis (rather than relying on hand-written timesheets), management is more likely to be aware of what's going on at all times during each project or activity that has to get done.
This way, agency business owners won’t need to play catch up during critical moments, which will ultimately lead to agency time tracking software becoming a staple in agency business operations.
4) Reduced Costs
Agency time tracking can also help agency owners reduce costs.
It does this by helping agency business owners keep tabs on employee productivity and how much work is being done for each project.
Agencies may also benefit from time-tracking software, which can assist them in better predicting their expenses.
Because they now have a clearer understanding of how much work has to get done within a certain period of time in order to meet the client's or management's budget target, agency owners can estimate their expenditures more accurately.
This information is especially helpful when it comes to bidding on future projects because agencies can submit accurate estimates that are backed up by data rather than assumptions.
5) Increased Transparency
Agency time tracking can also help agency owners increase transparency within the agency.
It does this by providing a detailed breakdown of each employee’s workload, which includes what they are working on, when it is due and how long it is expected to take them.
This information can then be used to generate reports that agency business owners can share with their clients so that they have a better understanding of how their project is progressing.
In addition, employees themselves will be able to see how they are performing against their colleagues and whether or not they need to pick up the pace in order to meet deadlines.
This increased transparency breeds healthy competition among employees as well as builds trust between management and its workers.
6) Improved R&D Processes
A agency time tracking software can also help agency owners improve their research and development processes.
It does this by providing detailed reports on the projects that agency workers are currently working on, which allows management to identify trends in agency production.
This information is especially helpful when it comes to identifying new products or services for current customers as well as finding ways of expanding the agency’s product line with respect to selling additional items.
And because an agency uses this type of technology throughout its operations , management will be able to collect more accurate data than ever before, resulting in better informed business decisions moving forward.
7) More Accurate Billing
Finally, agency time tracking can also help agency owners be able to bill more accurately and at a higher rate than before.
It does this by giving agency business owners the ability to track when each project started as well as how much work is completed within specific periods of time throughout its life cycle.
List of Agency Time Tracking Approaches:
Some of the common and significant agency time tracking approches are listed below:
1) Manual Time Tracking
The most common way agency owners track time is by using a manual time tracking approach.
This involves agency workers recording the amount of time they spend on each task or project either through a timesheet or some other form of documentation.
While this method is generally accurate, it can be prone to human error, especially when it comes to data entry.
In addition, this type of tracking requires a lot of administrative oversight in order to ensure that all tasks are accounted for and that no work goes undocumented.
Finally, because agency workers are often spread out among different projects at any given point in time, management may have difficulty getting an accurate picture of how much work has been completed on any particular project.
2) Time Tracking Tools
Another way agency owners track time is by using time tracking tools.
These are software applications that allow agency workers to track the amount of time they spend on specific tasks or projects either through a timer or some other form of documentation.
Like manual time tracking, this approach is generally accurate; however, it can be automated so that data entry is less prone to human error.
In addition, many time tracking tools come with reporting features that give agency business owners detailed insights into how their agency operates.
Finally, because all agency workers are typically working on the same task or project at any given point in time, management will have an easier time getting an accurate picture of how much work has been completed.
3) Time Tracking Services
A third way agency owners track time is by using time tracking services.
These are web-based applications that allow agency workers to track the amount of time they spend on specific tasks or projects either through a timer or some other form of documentation.
Like manual time tracking and time tracking tools, this approach is generally accurate; however, it can be automated so that data entry is less prone to human error.
In addition, many time tracking services come with detailed reporting features that give agency business owners detailed insights into how their agency operates.
4) Activity-Based Time Tracking:
This approach involves using an agency’s project management software in order to track the amount of time each employee spends on specific tasks or projects.
Although this procedure is quite precise, it does not tell you how long staff worked on a specific project before changing gears and beginning another one; therefore, agency business owners will still need some form of data entry personnel to accurately compute billable hours.
What to track:
- How much time agency workers spend on specific tasks or projects
This can be tracked by either using manual time tracking, a time tracking tool, or a time tracking service.
The important thing to remember is that each agency worker must document when the work began and how long it took them to complete before moving onto another task.
- The agency owner’s weekly hours
Agency owners should track the amount of time they spend on agency business. This includes both face-to-face meetings with clients and other agency workers, as well as administrative work like checking email or making phone calls.
Keeping this information in mind will help agency managers make more informed decisions regarding how to run their agency while optimizing employee productivity.
It also allows them keep tabs on whether there are any opportunities for growth within existing resources (i.e., additional staff).
This can be tracked by either using manual time tracking, a time tracking tool, or a time tracking service.:
There is an account that tracks tasks/time spent working at different levels: individual task level; project
- The agency’s billable hours
Agency business owners need to track the number of hours their agency spends on billable tasks.
This can be done by using activity-based time tracking or simply taking a look at the timesheet data generated by a time tracking tool or service.
Once again, it is important for agency workers to document when they began working on a task and how long it took them to complete in order to ensure accuracy.
- The agency’s deadlines
Agency business owners need to track the agency’s deadlines for two reasons: First, so that they can ensure that all work is completed on time.
Second, so that they can bill their clients accordingly. This information can be tracked manually or by using a tool or service designed specifically for this purpose.
- The agency’s billable rates
Agency business owners need to track the agency's various hourly billing rates. This includes not only what they charge their clients, but also how much agency workers get paid for specific tasks or projects.
The agency owner can do this by either using a tool or manually tracking and noting down these figures in an Excel spreadsheet.
Time management is an important aspect of agency operations. Agency owners may use time tracking to make smarter decisions about their firm and its personnel by monitoring a variety of elements including billable hours, deadlines, and rates.
In addition, accurate time tracking data can help agencies grow by giving business owners a clear understanding of where their agency is succeeding, and where it may need to improve.
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