A new project can create a lot of stress. From dealing with market need to hiring employees, there's a lot to consider before taking the leap. But one thing is for sure: the last thing you want to worry about on a new project are payment details. Fortunately, there are plenty of tools out there that will make that process a whole lot easier.
We asked nine entrepreneurs what technology they use for tracking billable hours and why. Check out what they had to say and get your billable hours in order before it's too late.
We use Project Bubble to track all billable hours for certain projects. It allows all team members to add to the project and keeps everything organized. Everyone is always on the same page — then we simply export the billable hours for each project into our invoicing software. It couldn't be any easier.
– Jonathan Long of Market Domination Media
It's simple, it's flexible and it's great for tracking employee hours without burdening the managers or others on the team. I highly recommend it. We've had many of our part time staff and consultants use Paymo in the past and it's always worked very well.
– Mitch Gordon of Go Overseas
Mavenlink is the most user-friendly and efficient time tracking software that we have come across thus far. It provides instant reports and the ability to plan future projects based on information from past ones. Its mobile website is available through all devices, and most importantly, it is easily navigated by our entire team — which leaves out any confusion or frustration.
– Miles Jennings of Recruiter.com
We use DeskTime. In addition to tracking billable hours, it also records time as productive/neutral or unproductive based on the users' active applications or websites visited. Over time, it learns what's productive and what's not. It also generates comprehensive reports showing productive time and efficiency KPI for every team member.
– Andrew Kucheriavy of Intechnic
There are many solutions for this, but right now I really like Time Doctor. This is a web-based platform that does everything I need, such as monitoring hours worked, recording screenshots, creating invoices and a lot more. This is very useful, whether people are working in one place or remotely. It definitely encourages productivity when everything is so easy to track.
– Shawn Porat of Judgement Marketplace
We use HoursTracker Pro to track hours worked, expenses, etc. We love the GPS integration features, and the ability to group entries by different views. The pay periods are automatically set, and additionally have different types of export. All in all, it's super useful and user friendly.
– Marcela De Vivo of Gryffin
This cloud-based time management tool tracks everything from employee hours, expense, project budgeting and other trackable billings. It's provides us with a real-time graphical workflow engine, which is a major contributor to the time and productivity factor that keeps my company's momentum going. Tenrox Timesheets gives me a reason to look forward to the end of the month.
– Reuben Yonatan of GetVoip
Our company works with a lot of freelancers and we use Screenshot Monitor every day to track their hours. It's similar to other popular time tracking software out there, but differs in one important way — it periodically takes screenshots. Since this software will randomly take a screenshot of a person's screen, we don't have to worry about them charging us for time and not doing work.
– Andrew Saladino of Kitchen Cabinet Kings
Young Entrepreneur Council (YEC) is an invite-only organization comprised of the world's most promising young entrepreneurs. YEC members generate billions of dollars in revenue and have created tens of thousands of jobs.