Brian Saunders, CEO of BigTime Software, was quoted in a Workforce Magazine article about improving productivity in people-based firms.
The article focuses on the changing nature of professional work: away from “fee for time” and 9-to-5 hours and toward knowledge workers who may shift from “off” to “working” at any hour of the day or night and value-based billing.
Saunders’s answer to whether fee for time is a thing of the past? “It’s not about watching the clock,” he said, “but logging specific duties.” Since BigTime focuses exclusively on consulting firms—the billable hour (whether or not you charge for it) is a core metric for all of BigTime’s customers.
Workforce also referred to a study that BigTime published which challenged the notion that tracking every minute makes a firm more “productive.” “Actually,” he noted, “employees who log their time a few times each week” are just as billable as those who log every minute.
What makes a professional consultant more billable? It’s simple: notes. Our 2016 study found that adding a 140 character note—about the length of a Tweet—to timesheet entries produces a 4.95% higher billing realization rate compared to entries without them. In fact, quality timesheet notes are more than three times as effective at “increasing billing realization than daily time submission.”