Understanding billable hours
A billable hour is the time you charge your customers for a service rendered. This includes tasks directly linked to the project, such as developing a website, writing a report or managing an advertising campaign.
On the other hand, internal tasks such as team meetings or training are considered non-billable. Clearly identifying these two types of hours is the starting point for an accurate calculation.
How to calculate your billable hours
Adopt an organized approach to accurately assess your billable hours:
- Time tracking by task: use time management tools to track each activity. Note the duration and type of task (billable or non-billable).
- Analysis of past projects: examine your past projects to estimate the average time required for similar tasks.
- Include adjustment margins: include margins to compensate for unforeseen events or adjustments requested by the customer.
This systematic follow-up will enable you to draw up accurate estimates and improve project profitability.
Tips for maximizing your billable hours
- Automate repetitive tasks: save time on non-billable activities by automating certain administrative tasks.
- Prioritize profitable projects: focus your efforts on the assignments that generate the most value for your customers.
- Regular profitability monitoring: analyze your billable hours every month to adjust your strategy and identify opportunities for improvement.
Include Teambook in the calculation of billable hours
Use a tool like Teambook for precise tracking.
Tracking billable hours can be greatly facilitated by using a dedicated tool such as Teambook.
Thanks to its intuitive interface, it makes it easy to record the time spent on each task or project. You can also categorize activities into billable and non-billable hours, and get a clear view of your team’s time allocation.
With Teambook, you not only maximize your precision, but also quickly identify tasks that deserve higher priority.
By applying these tips, your digital agency will be able to optimize project management while strengthening its relationship with its customers.
