ROI - Consulting Business

You can save money by using our timesheet and utilization reports.  The table below explains how to save money each month.  If your company is involved in product development, see this ROI calculation for development companies.  Consultants need to maintain a high utilization rate for the business to make money.  Managers must focus on billable-verses-non-billable rates, and on the percentage of client utilization.  Drop below a certain level and you wither up and die.  That's the challenge we aim to face.

You'll see below that a small investment in software can pay for itself in a very short time.  Recovering lost hours easily pays for the software.  See the table below for justification.

Return on Investment
Calculations are based on $50 consulting rate, and on $150 license fee (per consultant).

Result: The program pays for itself in less than one month.

Video: Can Time Tracking Help You Make Money?

Standard Time® is well suited for consulting work where time is billed against projects.  It even works with QuickBooks!  Since we use a shared database, each consultant can bill time to tasks performed for any number of projects.  They can even collect time when they are away from the home office using laptop computers.  When they return to the office all time collected offline is automatically resynchronized with the central database.  Workgroup reports and invoices can be created from these time logs.

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See: ROI for development organizations