This video illustrates why the number of billable hours matters. One consultant billing at a higher rate may not bring in as much as a consultant billing at a lower rate. It's all about the number of billable hours, or in other words, the number of hours that you are actually billing clients verses doing in-house work or no work at all.
You're likely paying a salary, or at least a base salary for every hour the consultant works for you. So, it's imporant that those hours are spent billing customers.
We have a report for that. You choose a date range, and it shows you all the employees that worked in that date range, and how much they brought in.
Well, hello there in Internet Land. I’m Mike with Standard Time®, thanks for coming back.
Are you managing a consulting company? Or work for one?
Then you’ve probably familiar with the term ‘Utilization rates’. I found a utilization report within the Standard Time Timesheet that I want to share with you.
Take a look.
Using this chart you can tell right away that you’re making more revenue from Brandon than Josh. You can see that the scheduled hours are about the same. Actual hours are almost the same. But look at Brandon’s billable percentage. It’s a lot higher than Josh’s. That’s because Brandon’s billable utilization is higher.
Want a nice report like this? Standard Time has it.
It has billing rates for each consultant; and records the number of hours that they’ve spent working. So you get a great utilization report just like this.
Download your free copy today! I’m Mike thanks for joining me and we’ll catch you next time.