As a business manager or an agency owner, you must have repeatedly heard that time tracking can help an agency to improve its productivity, taking its business to a whole new level of productivity and profitability. Despite this, many teams avoid using time tracking tools because these apps may appear perplexing at first. In fact, it has been observed that more than 45% of the business managers aged 50 and above direct their teams to rely on manual time tracking instead of adopting an automated tool. However, if you choose the best employee tracking software for your organization, it will prove to be very useful for you and your business.
Looking for an ideal time tracking app and don’t know where to start? We are here to guide you through! From understanding the need for a time tracking app to choosing the right agency time tracking tool for your business, we have covered it all!
Benefits of Tracking Time for Agencies
1. Track Projects and Manage Budget
Track the time spent on each task, and stay tuned with the progress of each project. Manage your budget easily by obtaining an estimate of the project cost beforehand and specifying the budget to track expenses for each activity in the agency. You can set up billable rates for the members and use their hourly rates to monitor profitability. You can also set up alert notifications to keep you informed about the available resources and funds.
2. Boost Your Agency’s Productivity and Efficiency
Boost your worker’s efficiency and productivity by allowing easier task management. Better work performance also significantly increases job satisfaction ratio for your team members motivating them to perform better.
3. Create Professional Reports and Ensure Customers’ Trust
Detailed professional reports can help provide transparent and updated information with your customers, building their trust in you and your agency. You can easily turn your agency timesheet into a professional report as per your needs. Choose the format that best suits you, and edit the timesheets to obtain only the important information you require.
4. Prevent Money Leaks
Money leaks could be a major problem for agencies. If you rely on manual billing and time tracking, it is likely that you will overlook certain costs. Some employees might have worked for extra hours on a project and they might forget to keep record of these extra hours. Eventually, these billable hours will either go unnoticed or will pile up making it difficult to manage them especially over a course of a month or a year. Thus it is important for an agency to have efficient software to generate accurate timesheets and prevent money leaks. Agency time tracking also ensures that each employee is accurately paid for the work they did.
5. Improved Resource Utilization
Just like some employees might be working extra hours on a particular task or project, there might also be some members who do not have enough tasks to work on. It is important that the workload is balanced such that each employee receives enough tasks and there is a balanced division of resources among all team members. Using agency time tracking software can help you track what tasks the employees are up to and spot if any member is underutilized.
6. Efficient Client Invoicing
Many agencies bill their clients in a time & materials model. If that’s the case for you, you simply have no excuse for not tracking your team members’ time. When you have accurate timesheets, it’s very simple to issue an invoice based on them. Your finance department will definitely appreciate having access to comprehensive data on project work.
7. Improved Resource Forecasting for Future Projects
Along with budget tracking, resource forecasting is also essential for agencies. Resource forecasting helps you predict how many resources you will require over the course of a particular project. You can use the detailed timesheets to get insights and reports to spot trends over the last few days and months. This way you can estimate if you need to invest in new human resources or your current resources are adequate to perform the tasks. Having insights about resource utilization and budget constraints can help you refine your agency’s estimation process.
8. Increase Productivity
In addition to budget tracking, information obtained from timesheets can also be critical to boosting productivity within your agency. Observing the timesheet entries for your employees, you can also identify improvement areas with respect to productivity. For example, you can identify how much on average was spent in a particular phase of a project and come up with ways to optimize the process and reduce the time required to complete the tasks in that particular phase. This data obtained from timesheets can provide you with all the necessary information that you can use to improve your work flow and boost your agency’s efficiency and profitability.
9. Optimize Your Pricing
Speaking of billable hours, they’re also very important when it comes to assessing the profitability of your projects. It may be the case that your team works very hard on a project, manages to deliver it on time, and yet your agency is barely making any profit. If that’s the case, you should definitely look for opportunities to optimize your pricing or negotiate your contract terms. For example, if you treat implementing client-requested changes as non billable time and yet it makes a bulk of your team’s timesheets, perhaps you should charge for it after all. Agency time tracking provides you with tools to explain and justify these decisions to your clients.
10. Customizations and Integrations
With additional integrations you can easily use your time tracking software with tools such as Slack, Asana, and Trello. You can import projects from one tool to the other, and achieve complete control over your projects. Customization allows you to configure permissions, set up specific alerts and optimize the workflow as per your needs.
How to Use Remoty Effectively for Agency Time Tracking
- Seamlessly Integrate with common third party applications
- Automatically generate invoices using real-time data
- Manage employees in-office and remotely
- Manage small to large projects and calculate costs
- Obtain a healthy work-life balance
How to Pick the Right Agency Time Tracking Software?
Choosing the right time tracking tool for your agency might be daunting, especially with so many options available in the market, and each option providing a set of different features. Some tools are specific to only functionality, while others provide multiple features and can be used for management of teams in larger organizations. Agencies must decide upon the features they require and then choose a one-in-all solution that assists them to manage teams without exceeding budget constraints. We have listed below some of the features that you must look for when choosing a suitable time tracking tool for your agency.
What to Look For in a Time Tracking App:
An ideal software must ensure seamless payroll generation, and automatic invoice generation to help you escape the hassle of manual paper work. This will simplify your workflow and make the billing process very smooth.
Agencies need to keep track of their budgets to ensure maximum resource utilization and prevent money leaks (these are integral to tracking the effectiveness of your team). Budget tracking can help you identify the loop-holes in the workflow to help you make informed decisions and plan budget accordingly for future projects. It can also help you identify and cut down unnecessary costs.
Team and Project Management:
It is important for agencies to manage their projects and teams all at one place. Instead of having to import data from one tool to another, an ideal agency time tracking software should support integrations for basic project management tools to help you streamline your workflow all at once.
Look for apps that provide you a free trial to allow you to test it before you adapt it for long time use. Pricing is a key feature, because a good solution is not the one that costs you a kidney, but it is one that provides a large set of features at a reasonable price.
Remoty is an easy-to-use, multi-purpose time tracking solution that can help you with agency time tracking, resource scheduling as well as attendance management. Start your free trial now and get your hands on the best time tracking software available in the market.
Top 10 Time Tracking Tools for Agencies
Remoty provides you an all-in-one solution, to help you achieve the best out of your remote and hybrid teams. With its user-friendly interface, and color-coded dashboard everyone can easily use this tool without any training. With real-time updates, you can track project updates and employee status. Remoty simplifies the payroll process for you, so you do not have to worry about managing each employee individually. Timesheets allow you to get a detailed view and import them in any format you want. You can also assign tasks easily to different team members and monitor their progress. Apps like Trello, Jira, and Asana can be easily integrated with Remoty to allow you to streamline the workflow process.
- Time Tracking
- Invoice Generation
- Attendance Tracking
- Project Management
Starts at $0 for up to 10 users and $4 per user/month for teams
For small to large businesses and independent contractors. Remoty is an excellent tool and it functions equally well for in-office, remote, and hybrid teams.
Log Time To Streamline Your Tasks Right Within Slack
Get started today. No card required.
Timecamp is an efficient agency time tracking tool as it allows you to generate detailed reports to analyze project progress and increase productivity. This attendance tracking software helps you automate the tracking process by automatically filling the timesheets and generating invoices for billed hours. In addition to invoice generation, Timecamp also supports multiple integrations including Asana and Basecamp.
- Automatic Time Tracking
- Attendance Tracking
- Timesheet approvals
Starts at $7-10/user/month
Independent contractors and Freelancers.
Toggl focuses on providing a time-tracking solution, especially for individuals. You can start tracking straight away instead of having to schedule projects beforehand. With budget tracking, you can stay updated with the project resource consumption and updates. Toggl also provides multiple integrations which further makes it an efficient solution.
- Invoice Generation
- Employee Time Tracking
- Project Budgeting
Starts from $10 – $59/user/month
Smaller teams and organizations
Harvest provides multiple features that allows teams to bill their clients and manage teams efficiently. You can also assign roles to your team members to limit their access to certain activities. It also allows invoice generation and is linked to multiple payment gateways such as Paypal. Harvest also supports multiple integrations including Jira and Asana.
- Invoice generation
- Budget tracking
- Project Tracking
- Team Management
Starts at $10/user/month
All kinds of teams tracking time for payroll processing and client billing
This is an intuitive and user-friendly agency time tracking app. Its stunning dashboard helps you set up multiple views and monitor task progress and manage teams. Although it lacks budget tracking, you can access reports and identify patterns from them. It also does not allow you to automate the invoice generation process, but since it is so simple to use, it could be a good choice for agencies looking for a reasonable app with minimal features.
- Project Management
- Real-time Reporting
- Team Management
Starts from $8/user/month
All kinds of teams. The iOS app allows you to log in easily, so you can manage your teams on the go.
Tick helps you manage your teams and increase profits for your agencies. It allows you to track employee hours, monitor progress, and use data to optimize methodologies to achieve more profits. Tick also acts as an effective communication tool for teams. You can start a timer and also toggle between multiple timers as per your requirement.
- Real-time budget tracking
- Multiple Integrations
- Invoice generation
- Powerful Reports
Starts from $19 – $149/month
Medium to large teams running profitable businesses
HiveDesk allows you to create projects and assign each employee to different projects. It also allows you to generate accurate timesheets and get detailed information about the time spent by each client on each project. Flexibility and ease-of-use allows you to generate particular timesheets as per your duration. Cost and budget-tracking allow you to calculate project profitability and devise strategies accordingly. Another salient feature of HiveDesk is that it can take screenshots of the client’s dashboard to update you on their progress and status.
- Employee time-tracking
- Activity Monitoring
- Project Tracking
- Automatic timesheets
- Project cost management
Starts from $25 – $500/month
Small to large agencies running profitable businesses
Teamdeck provides you with a user-friendly and task-focused interface, that helps you have a clear view of the available functions. You can view the status of project progress, employee availability and task divisions among the team members. Automation provides you complete control over who can access what, and you can manage large teams without any manual hassle and listings. With calendar integrations you can maximize team and resource utilization across the company, and hence increase profitability.
- Custom Reporting
- Leave Management
- Time Tracking
- Mobile App
Starts from $0.9 – $3.60 per user/month
From creative agencies to small and large business, it can be used by all kinds of teams
9. Time Doctor
This is an ideal project management and agency time tracking tool for large to small businesses. Team Doctor can help agencies to increase team efficiency and boost profitability. This tool allows you to monitor the time spent by each time member on different activities and projects. This ensures that accurate and error-free timesheets are generated and each employee is paid fairly. The Screencasts feature captures screenshots of the employee’s screens at different intervals to provide you updates about the client’s activities.
- Idle-time tracking
- Productivity Reports
- Distraction Alerts
- Project Management and Budgeting
Starts from $7- $20 per user/month
Small to large business alike
Replicon provides multiple features including agency time tracking, clock in/out, project management and GPS tracking. Replicon can serve as both a simple time tracking software and an advanced project management tool. Replicon provides real-time updates so you can stay updated with project progress. Replicon also supports multi-user management to allow you to decide upon certain levels of access for certain roles based on the agency’s hierarchy.
- GPS Monitoring
- Reminders and Notifications
- Real-time Progress
- Advanced Analytics
- Project Time Tracking
Starts from $3 per user/month
Medium to large-sized agencies and businesses looking for an effective time tracking and team management software
Try Remoty With Your Teams
We would love you to try Remoty and explore how it best works for your teams. Get your free trial now, and get the advantage of all its cool features. If you love it and would like to expand your team, upgrade your plan.