For professional services firms and project-based businesses, Timesheets are essential.
Whether you’re billing your clients by the hour or using a value-based pricing model, you need to keep track of employee time and know how much time was spent on specific projects and manage projects. Manually tracking your employee’s time is inefficient and prone to errors. Besides, if your employees have the usual tendency in submitting their timesheets late, you may not get an actual picture of your projects’ profitability. Worse, if the timesheet collection process is delaying your invoicing, your cash flow will be suffering.
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