Time is a valuable resource for any business, but as a professional services business, your time’s value is directly tied to your potential profitability. That’s why using time-tracking software for accurate time management is something most service-based businesses can’t afford to go without.
A time-tracking business tool can improve resource management, help divide workload evenly across your team and give your business new insight into your billable vs. non-billable time. With this information at the ready, you can accurately charge clients for the work you deliver — and that’s where having the right invoicing tool comes in.
Regardless of business size, building an invoicing process that relies on accurate time data is the best way to ensure your business remains profitable. Because of this, many businesses seek an invoicing solution with time-tracking capabilities.
No matter what stage your business may be in today, there are tools available that can help your team better manage — and charge for — your time. Below we’re diving into some of the best time-tracking and invoicing software solutions for tracking time, billing clients and managing your client work so that you can find the solutions that meet your current needs.
Time management is important for any business looking to be productive, but for a professional services business, time management can determine your ability to sustain and grow your business. For teams just getting started or for teams who may be in need of more granular time management, finding a time-tracking software solution should be a top priority.
Scenario #1: Your company recently implemented a new project management software with the ability to generate custom invoices based on projects completed. As your team begins to create invoices to send to clients, you realize that your current time tracking is limited and may be missing critical billable hours.
You need a more advanced time-tracking tool that can capture granular time reports and provide the data you need to accurately bill for your client work. So you begin searching for a more robust time-tracking solution that can capture a complete picture of how your team spends its time.
Let's uncover some of the top time-tracking software solutions:
Clockify is a free time-tracking app that helps teams and individuals log time spent on tasks and projects using a combination of automatic timers and manual entry. The option to create teams can help project managers oversee the total time on a project. Clockify can be used to calculate payroll and billable hours.
Hubstaff is a time-tracking and employee-monitoring software with productivity features meant to help businesses gain improved insights into employee workload. The app tracks time through manual and automated tools, sets employee time limits and collects data for detailed timesheets and time reports.
Toggl Track is a time-tracking tool with timesheets, billable time reports and budgeting features. Users can simply use timers or customize them with added details like tags to categorize segments of time. Toggl Track can be used to calculate payroll for both employees and contractors.
Timely is an automated time-tracking app with built-in project and resource management, payroll and capacity planning capabilities. The platform allows businesses to easily track employee time, monitor project tasks and budgets and access full visibility of their teams’ performance.
TrackingTime is a time-tracking software for businesses to plan and track their team's work through time cards, work schedules, timesheet creation and employee time reporting. The tool can be used by small, medium and enterprise-sized businesses to track team performance, budget project time and generate time reporting.
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When you’re managing multiple clients and multiple client projects for each, keeping track of your employee time is no longer enough to efficiently manage your business. You need an invoicing solution to make use of that time data so that you get paid for all of your billable work.
Choosing an invoicing software with time-tracking features is a great way to ensure your team is not missing out on charging for billable hours and reduces the need for additional integrations in your tech stack.
Scenario #2: You’re a growing service-based business looking to develop your tech stack to meet the demands of your expanding client base. You may have been managing employee time or client payment records manually in a spreadsheet, but in order to sustainably scale your business, you need a tool that can automate these processes and provide you with more reliable data and allow you to bill your clients accurately.
Let’s explore the top invoicing tools with time-tracking features:
Harvest is a time-tracking software with desktop, browser and mobile versions. It offers flexible timesheets and the ability to invoice clients and accept payments directly through the platform. The range of reports goes beyond simple time logs to display team capacity, project costs and more.
Hiveage is an invoicing software solution that helps businesses manage their money, their team and their customers. The platform offers quote creation, time tracking, invoice creation and recurring billing management.
Time Analytics is a simple time-tracking and invoicing app that allows users to track time, send invoices and create estimates for client work.
Zoho Invoice is online invoicing software that helps users manage invoices, track expenses and accept online payments. The platform can be customized to meet the needs of multiple industries and offers project billing, time tracking, reporting and a client portal.
For those seeking new software to manage their invoicing and time-tracking needs, a complete business management software may be a more appropriate solution to consider. The ability to connect all the features highlighted above with the other aspects of your client work in one centralized system is a game changer for professional services businesses that want to improve visibility and reporting.
One platform to manage all client work reduces the need for a complex — and more expensive — tech stack and creates one source of truth for your entire business.
Scenario #3: Your team has been functioning with its existing tech stack for a while, but you’ve recently realized that you’re spending too much time switching between tools and searching for data across multiple platforms. You’ve made it work until now, but you know that continuing with this inefficiency is preventing your business from growing. You determine you need a more complete tool to support your complex workflows and connect all aspects of your client journey.
Below, we’re sharing the top client work management solutions for your business:
Accelo is an end-to-end client work management platform built to help professional services businesses automate tasks, improve visibility and increase profits.
While it offers robust project management and advanced time-tracking features, Accelo also offers solutions for all stages of client work, including sales and quoting, customer relationship management and contact management, a complete ticketing system, invoicing and retainer management.
Start a free trial today to see Accelo in action. If you have questions or want to explore custom solutions for your business needs, schedule a demo to speak with a product expert.
Paymo is a business management solution built for small and medium businesses across multiple industries. The platform includes collaboration tools, time tracking and timesheet management, project management and invoicing capabilities.
Workamajig is a business management software for agencies and creative teams. Its key features include a variety of financial reports that tie time logs and team capacity to projects and tasks, making it a good option for agencies looking to focus on maximizing the profit potential of billable time.
For professional services businesses managing sales, client projects, ticket requests and more, you need a tool that can streamline your complex client work into one centralized system. To do that efficiently, you’ll want a platform that includes a complete suite of tools to support your client journey.
From sales management to projects to billing, Accelo’s client work management tool can bring simplicity and efficiency to your client work. With the ability to connect all stages of your client work and track employee time against projects, tickets and retainers, you get a complete picture of your employee utilization and your potential profitability. And with a built-in invoicing solution, creating, sending and tracking client invoices is as simple as one click.
In addition to the robust time-tracking and invoicing solutions, Accelo is also a user favorite due to its ease of use and exceptional customer support. Accelo’s overall customer satisfaction is why the platform has received G2’s Best Relationship badge in Professional Services Automation for three consecutive quarters.
See how Accelo can simplify your client work with a free trial, and then request a demo to speak with an Accelo product expert.