The utilization of time-tracking software is a crucial instrument for Public Relations (PR) agencies to enhance their operational processes and augment productivity. Through precise collection and analysis of project duration, it is possible to optimize the billing process, improve employee productivity, and augment profit margins.
Comprehensive Overview of Time Tracking Software for Public Relations (PR) Agencies
By using the right time-tracking software, your Public Relations (PR) agency can ensure accurate billing for the work done, which can help prevent revenue loss. As a small startup firm or an established Public Relations (PR) agency, you have the opportunity to use great time-tracking software to streamline billing, maximize project profitability, and gain insight into employee utilization.
To better oversee your marketing and media company, AccountSight offers a centralized project time tracking software to record all project time, control expenses, and provide clients with real-time insight into campaigns and ongoing activity.
Managing an agency can be a challenging endeavour, multitude of tasks and the influx of information can pose a challenge in staying abreast of the current events within one’s agency.
As you ascend to greater heights, the intricacies of agency management become increasingly challenging.
It is probable that your enterprise possesses digital resources to aid in project and resource management, invoicing, and other vital procedures. Therefore, what is the rationale behind relying on manual processes that are susceptible to errors and consume valuable time for time tracking?
Automating employee Timesheets, daily reminders, approval procedures, and other portions of the tracking workflow is possible with a cloud-based time-tracking solution that integrates effectively with your current tech stack.
Unfortunately, the market for time-tracking software for employees is quite competitive, with hundreds of alternatives for your company, many of which promise essentially the same things. Considering how frequently Public Relations (PR) agencies go over budget, making the proper decision is crucial to your agency’s success.
This is where AccountSight’s Time, Expense, and Billing Management Software comes in—facilitating integrating disparate processes, centralizing project data, and simplifying operations under budgets.
The Most Frequent Time-Tracking Errors Made by Public Relations (PR) Agencies
It is common knowledge that PR firms often go over schedule and over budget. By utilizing appropriate tools and integrations, it is possible to circumvent prevalent errors in time-tracking and establish oneself as a pioneer in the field.
1) Timesheet Procrastination
After a productive workday, many individuals prefer to unwind and disconnect. It is important to keep in mind the completion of the daily timesheet as it ensures data accuracy.
AccountSight has functionality to get it integrated with third party access control system which eliminates manual entry of timesheet (IN/OUT) time of an employee.
By setting up automated reminders for team members to fill up their timesheets, the correct time-tracking application may make everyone feel more in charge of their tasks and less inclined to put off doing so.
2) Inaccurate Timesheets
Sometimes, even with automated reminders, a team member may inadvertently neglect to complete their timesheet. Usually, this can be rectified later.
By implementing oversight approvals, it can be ensured that every timesheet undergoes managerial approval before its progression from the time tracking platform.
3) Lack of congruence between personal and organizational objectives
The information gathered from company-wide time tracking is valuable. This facilitates the establishment of well-defined objectives for the team and the business as a whole. But you might not get the desired results unless you make that alignment explicit.
How to Choose the Best Time Tracking Software for Your Team and Yourself
Within agencies, a considerable number of resources are dedicated to retrospective analysis. Attempting to ascertain the reasons behind a project’s lack of profitability or the team’s under-utilization.
The AccountSight system provides you with comprehensive visibility into real-time insights help you to quit doing things that are not working and do more of the things that are working well.
Efficiently manage your resources to maximize profitability
The employees working for your agency are its greatest strength and its single largest expenditure.
AccountSight provides visibility into team capacity by individual or skill type in both the short and long-term, allowing users to track who is working on a particular project.
Easily compare what is in the pipeline, assess the likelihood of work being secured, track deadlines, and determine necessary resources. Providing a proactive outlook to enable effective resource management and pursuit of suitable work to address any gaps.
Does your agency possess the appropriate combination of resources to address its proposition adequately? Has your proposal been modified to align with market requirements, and if so, has your team not yet adjusted accordingly?
AccountSight provides insights into the most sought-after pre-build resource pool based on skills and availability, enabling agencies to align their employee strategy with their business proposition. This alignment can lead to increased utilization and profitability.
How profitable is each client, service, project, and resource really?
Try to visualize this! A quarter of your business comes from just one customer. However, they only pay you 70% of what your other clients do per hour in terms of recovery.
You might never learn this if you lack the information that reveals it clearly and empirically. If you have had success with a certain type of customer or project in the past, it is natural to want to pursue similar opportunities.
Increasing the amount of effort that generates a lower profit will provide the opposite outcome. In addition, you are passing up on accounts that may be beneficial for you.
With AccountSight, you get instant access to this information.
By identifying your areas of strength, you can effectively draw in a greater number of clients and projects that align with your expertise. One gains knowledge regarding the consistent performance of various roles, enabling informed recruitment decisions that prioritize roles with optimal returns.
Enhance profitability by optimizing project delivery
AccountSight makes capturing the costs of delivering your projects easy and accurate.
The project’s profitability may be evaluated in real-time with an ever-evolving picture of the time and expenditures involved. Both actual and anticipated budget overruns are easily identifiable. That way, you may cut back on unnecessary services by taking the proper measures.
In subsequent estimations, the previous time taken can be precisely known, thereby minimizing the probability of underestimation.
Invoices are seamlessly integrated with project delivery data, including approved timesheets and business expenditures. This ensures you are always aware of when a project is ready to be billed. Efficient invoicing can improve cash flow. Furthermore, AccountSight can seamlessly integrate with your preferred accounting systems like QuickBooks Online, QuickBooks Desktop, or Xero, eliminating manual data entry.
The efficacy of your scaling efforts is contingent upon the optimization of your processes.
Ultimately, the individuals within your organization are transient, while your agency’s processes serve as its foundation.
The desired attributes for the subject in question are efficiency, scalability, and consistency. It is advisable to avoid duplicating efforts on each project or encountering the same errors repeatedly.
The utilization of multiple systems can pose challenges in the optimization of operational workflows. Errors and superfluous repetition may be concealed within intricate systems. Project delays, unreliable data, and ambiguity can be detrimental.
With AccountSight, your operations will be streamlined, clear, and efficient. This will allow you to reproduce and scale your operations with ease.
The following points will assist you in making an informed decision on the time-tracking software that should be utilized by both you and your team.
Search for User-Friendly Software that Offers human support, not AI bots.
Well, it is like having a gym membership but never actually going to the gym – you will not see any gains from your time-tracking software if your team does not use it consistently or correctly.
Consider a time-tracking tool that is intuitive, user-friendly, and works well on desktop and mobile devices, and your employees will be more likely to use it regularly. Since they will know the tool will save time, it will be easier to gain their support when introducing it.
As you look, think about how frequently the software is updated and how involved the service team is. Do the creators respond to user feedback and industry changes? Do they have post-update assistance for customers?
You need a time-tracking app with stellar support to ensure you get the support you require at any moment. Consider working with businesses that either give formal training programs or a comprehensive online knowledge base with readily accessible lessons and guidelines.
Look for a Software that Can Be Customized to Fit Your Current Process.
Your Public Relations (PR) agency likely has streamlined processes to deal with PR’s ever-changing nature. You should make sure that the time-tracking software you choose for your company is easy to implement.
Identify a software solution that can seamlessly integrate with your existing technology infrastructure.
The integration of time-tracking tools into your existing digital infrastructure can be achieved seamlessly, enabling the data from your timesheet to flow straight into your legacy system.
Integrating time tracking tools with your other software, like QuickBooks Online, QuickBooks Desktop, or Xero, you will get a better idea of how your PR firm is doing. Plus, you will be able to find ways to make your team more productive and profitable.
Discover a tool that offers strong reporting and analyzing capabilities.
An effective PR firm requires data-driven software. You need a time-tracking platform that can gather and report on your data, from running reports on team productivity and timesheet completion to project success and profitability.
Sharing these statistics with your team will demonstrate the benefits of time monitoring and encourage them to keep up with their excellent work.
You can see where your resources are going and how to improve your operations by keeping meticulous time records. Regardless of the size of your company, time-tracking software should be a top priority.
AccountSight is one of the most highly regarded time-tracking systems for employees that are currently in the market. It has a number of features that make it particularly well-suited for dynamic work culture of PR and marketing agencies including the following:
- The design of the system is intuitive and user-friendly, with the added advantage of being accessible on both desktop and mobile devices. This feature facilitates the development of a consistent and precise time-tracking routine among employees.
- The provision of instantaneous outcomes concerning the completion of timesheets and project budgets enables teams to make precise decisions at any given moment.
- The product offers a wide range of pre-designed report templates that cater to the needs of Public Relations (PR) agencies. These templates cover various aspects, such as employee utilization, project profitability, and expense reports. The total number of templates available exceeds fifty.
- Various tools are available to facilitate effective project management, encompassing budget monitoring, approval of time off, and evaluation of employee availability, costs, and productivity.
AccountSight provides you and your team with a complete time tracking solution, allowing you to easily cut expenses, increase billable hours, and optimize productivity.
Discover more about the ways in which AccountSight can safeguards your bottom line.