Time Recording for Professionals - Unlocking Success Live at Your Desk
Although recording time has been the method of choice in professional services charging for hundreds of years, it is rare for any such business not to encounter problems in capturing and realising all the time being spent.
This virtual classroom seminar will examine why time recording is vital in achieving financial success with hourly rate billing, its uses in management information and the detail needed to support and inform the time spent.
There will also be discussion around the alternatives and what these could bring to your business and profitability.
What You Will Learn
This live and interactive session will cover the following:
- The pros and cons of time recording
- The relationship between time and profit
- Why we have time leakage and how to avoid it
- Time recording best practice and tactics
- Understanding the ‘costs-plus’ approach to billing and examining value based alternatives
- Using time recording as a management tool
- What should be in your engagement documents
- Drafting client friendly narratives and the graphic representation
- Using technology to get the most out of hourly rate billing, pricing and profitability
- Why we have write-offs and how the avoid them
- Is it possible to achieve 100% realisation rates with time based billing?
- Avoiding difficult client conversations and discounts on your time
Recording of live sessions: Soon after the Learn Live session has taken place you will be able to go back and access the recording - should you wish to revisit the material discussed.