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Time Tracking App for Consulting Firms

Consulting firms can lose up to 25% of billable hours due to inefficient tracking. Harvest offers precise time tracking to maximize revenue and project profitability.

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How much revenue is your team leaving on the table?

Most agencies run at 55-60% utilization. Even a small improvement means significant revenue. See what closing the gap looks like for your team.

Number of people who track billable time
$
Blended rate across roles (junior, senior, lead)
55%
Percentage of total hours that are billable. Industry average is 55-60%.
75%
A realistic target for service businesses is 70-80%.
Monthly revenue gap $0
Revenue at current utilization $0/mo
Revenue at target utilization $0/mo
Extra billable hours needed per person/day 0h
Annual revenue opportunity $0

Start tracking team utilization

Walk through the entire flow below. Start a timer, check your reports, and create a real invoice — all in three clicks.

Go ahead — start tracking!

One click and you're timing. Try it right here: start a timer, add an entry, edit the details. This is exactly how it feels in Harvest.

  • One-click timer from browser, desktop & mobile
  • Works inside Jira, Asana, Trello, GitHub & 50+ tools
  • Duration or start/end — your call
  • Day, week & calendar views to stay on top of it all
  • Friendly reminders so no hour gets left behind
Acme Corp
Website Redesign
Homepage layout revisions
1:24:09
Content Strategy
Blog calendar planning
1:30:00
SEO Audit
Technical audit report
0:45:00
Brand Guidelines
Color system documentation
2:15:00
Logo Concepts
Initial sketches round 1
1:00:00
Today's total 6:54:09

The Indispensable Role of Time Tracking in Consulting

Time tracking is a vital tool for consulting firms, ensuring that every minute of work is accurately logged and billed. Consulting firms often face a revenue leakage of 15-25% due to inefficient time tracking systems, potentially losing between $780,000 and $1.3 million annually for a 50-employee firm billing at $200 per hour. This significant loss underscores the importance of precise time tracking in financial control and project profitability.

Accurate time logging is directly linked to a firm's financial health, enabling consultants to charge appropriately for their services. By using detailed records, firms can improve transparency and trust with clients, who often demand clear reporting. Harvest excels in this arena by offering tools that ensure billable hours are captured effectively, reducing the risk of lost revenue and reinforcing client confidence.

Essential Features of Consulting-Specific Time Tracking Apps

Consulting firms require time tracking apps with specific features that cater to their complex needs. These include flexible time entry methods, such as real-time timers and manual entries, along with the ability to categorize time by client, project, and task. Harvest offers these capabilities, allowing consultants to track both billable and non-billable hours with ease.

Another critical feature is customizable billing rates. Harvest supports varied rates for different services, projects, or consultants, accommodating the diverse billing models prevalent in consulting. Integration capabilities are also essential, and Harvest seamlessly connects with tools like Asana, Trello, and Jira, streamlining project management and accounting processes. Mobile accessibility ensures that consultants can log their hours from anywhere, enhancing productivity and accuracy.

Leveraging Time Tracking for Enhanced Project Profitability

Effective time tracking is indispensable for boosting project profitability in consulting firms. It prevents undercharging or overcharging by providing precise records of services rendered. Harvest's detailed project analysis tools offer insights into both profitable and unprofitable engagements, allowing firms to align time spent with project budgets and outcomes.

Resource utilization is another area where Harvest excels, helping firms track how consultants spend their time to optimize workloads and prevent burnout. By using historical time data, consulting firms can improve forecasting and estimation for future projects, reducing the risk of budget overruns. Additionally, identifying inefficiencies and time-consuming processes becomes easier, enabling firms to address cost sinks that impact profitability.

Best Practices for Successful Time Tracking Implementation

Implementing a time tracking solution effectively requires a strategic approach. First, gaining stakeholder buy-in is crucial to foster adoption. Engaging leadership and team members by communicating the benefits of time tracking is essential. Harvest supports this by integrating with existing workflows, minimizing disruption.

Establishing clear guidelines is also important. Defining billable versus non-billable activities with specific examples, such as client meetings and internal strategy sessions, reduces confusion. Emphasizing the value of time tracking over control helps team members appreciate its benefits, such as reducing administrative burdens and improving performance. Encouraging daily time entry maximizes accuracy, as memory of tasks diminishes significantly after 24 hours.

Harvest Time Tracking for Consulting

See how Harvest helps consulting firms track billable hours and analyze project profitability with flexible billing settings.

Screenshot of Harvest's time tracking features for consulting firms

Time Tracking App for Consulting Firms FAQs

  • Time tracking apps like Harvest help consulting firms manage billable hours by providing real-time and manual entry options. These tools ensure accurate logging of hours spent on projects, preventing revenue loss. With features like automatic timers and detailed categorization by client and task, Harvest supports precise billing and financial control.

  • Essential features for consulting firms include flexible time entry methods, customizable billing rates, and integration with project management tools. Harvest excels by offering these alongside robust reporting and analytics, mobile accessibility, and support for multiple hourly rates, catering to the diverse billing models in consulting.

  • Yes, Harvest aids in analyzing project profitability by providing detailed insights into time spent versus project budgets. This helps identify profitable engagements and optimize resource allocation, ultimately enhancing financial performance. Harvest's reporting tools offer clear visibility into project outcomes and cost-efficiency.

  • Harvest integrates seamlessly with popular project management tools like Asana, Trello, and Jira, as well as accounting systems such as QuickBooks and Xero. These integrations eliminate duplicate data entry and streamline workflows, making it easier for consulting firms to manage projects and finances effectively.

  • Consulting firms should establish clear guidelines for billable activities, ensure daily time entry to maintain accuracy, and integrate time tracking with existing workflows. Harvest supports these practices by providing intuitive tools and customizable solutions that enhance adoption and accuracy.

  • Time tracking improves client transparency by providing detailed records of hours worked on each project and task. Harvest offers comprehensive reporting features that justify invoices, build trust with clients, and demonstrate the value delivered, fostering stronger client relationships.

  • Yes, Harvest offers flexible billing settings that accommodate various consulting contract types, such as Time & Materials and Fixed Fee. This flexibility ensures that firms can accurately bill clients according to the specific terms of each engagement, enhancing financial management.