Tracking the right Key Performance Indicators (KPIs) is essential for optimizing the management of billable hours. These key data enable you to identify areas for improvement, maximize profitability and better organize resources.
Thanks to tools like Teambookyou can monitor these KPIs in real time and make informed decisions.
Why track KPIs for your billable hours?
KPIs related to billable hours help you :
- assess project profitability: by measuring billable time against allocated resources.
- identify inefficiencies: by comparing planned hours with hours actually billed.
- optimize the planning of future projects: by adapting your management strategies to the data collected.
These indicators give you a clear vision of how to manage your projects more effectively.
Key KPIs to monitor
Resource utilization rate
This KPI measures the percentage of billable time in relation to total time worked. A high ratio indicates efficient use of resources. In the world of service companies, the usual target is 80-85%.
Conversion rate from planned to invoiced hours
Analyze how many hours planned for a project are actually billed. A significant discrepancy may indicate planning or efficiency problems.
Profitability by project
Calculate the margin generated by each project by comparing billed hours with total costs (salaries, fixed costs, etc.).
Avoidable unbilled hours
Identify time-consuming tasks that don’t generate revenue, and look for ways to reduce them.
How does Teambook help you track and optimize your KPIs?
Real-time tracking of billable hours
With Teambook, you can easily track your hours worked and billable hours. The tool lets you categorize each activity, giving you a clear and precise overview.
Automated reports to analyze your KPIs
Teambook generates detailed reports on your key KPIs. You can instantly view resource utilization, time overruns by project and much more.
Planning optimization
Teambook facilitates planning by adjusting assignments according to actual data. This allows you to increase billable hours and improve overall performance.
Tips for improving your KPIs
- train your teams: make your staff aware of the importance of billable hours and the associated KPIs.
- use a dedicated tool: centralize data management and tracking with Teambook.
- Regularly analyze your data: identify trends and adjust your strategies to maximize efficiency.
By tracking these indicators and using a tool like Teambook, you’ll gain clarity and profitability.
