Why a Single-Point Time Tracker Won’t Cut It for Growing SMBs

When you’re running a business with team members who are working remotely, you have to have a time management system in place. 

That’s a given, especially when you have consultants that bill by the hour.

A lot of startups and small businesses will immediately look to a time-tracking app. A lot of these are free or low-cost and can make your reports on how billable time is being spent and by whom.

No doubt, this is a popular path and it works. 

But once a few more clients come on board and your team starts growing, a single-point time-tracking app can actually hold you back.

For one, it will be more difficult to understand how to increase profitability, and you won’t be able to benefit from features like automated invoicing.

Instead, a time tracking tool that’s already included within your work management software– examples include Monday.com and Wrike– will be better suited to scale with your growing business.

In this case, hours can automatically connect with your project data. Plus, the solution will analyze and feed your time-tracking data into detailed reports across project management and your CRM, giving you more accurate insights.

Here’s why growing businesses should consider a native time-tracking tool that’s part of a larger work management software system:

1. Connected to Rates and Contracts

An all-in-one project management solution like PSOhub links time tracking with your project rates and contracts, enabling you to effortlessly calculate project profitability. This simple connection ensures that you have clear insights into the financial aspect of your projects, helping you make informed decisions.

2. Integrated with Budget Grid

With PSOhub, you can quickly visualize the variance between budgeted hours, planned hours, and actual hours effortlessly through our budget grid. This feature empowers you to stay on top of project budgets and make necessary adjustments in real time.

3. Synchronized with Resource Management

Say goodbye to manual hour bookings! PSOhub's time tracking is intricately connected to our resource management module, allowing users to retrieve scheduled hours directly into their timesheets. This not only saves time but also helps you get more accuracy in resource allocation.

4. Calendar Integration

You can improve your teams’ time accuracy by seamlessly syncing PSOhub with your preferred calendar platform, whether it's Outlook or Google Calendar. This native integration ensures that every minute is accounted for, enhancing overall efficiency. And if you choose, you can leverage self-driving time tracking with the calendar integration, too. With this AI-powered feature, your time tracks itself!

5. Connected to Billing Engine

Streamline your billing process by integrating time tracking directly with our billing engine. This ensures that all billable hours are accurately captured and invoiced, reducing administrative overhead and improving cash flow. PSOhub’s invoice management is actually one of the reasons many small businesses end up choosing us for project management. It’s built-in, easy to use, and it’s automated if you choose.

What’s more

The goal here was to explain that using a single-point time tracker is less advantageous when you’re growing a business. 

Compared to built-in time tracking that connects with multiple data points in your work management tool, it’s unnecessarily inefficient.

A native time tracker with the above benefits will live within a larger work management software like Wrike, Airtable, or PSOhub. 

Of these three, PSOhub is the only platform to offer self-driving time tracking. What's more, PSOhub’s licensing model is designed to provide maximum value for all types of users with a simple flat fee. 

By leveraging these benefits, you can expect a significant increase in utilization rates, ranging from 3% to 5%.