As this new year kicks off, professional services firms will be diving head-first into the busy season. From January through March, accountants will be buried in reviewing and auditing financial statements, and busy conducting walk-through of process and internal controls; then, they’ll spend the next several weeks immersed in tax filings. Advisors and consultants will also see their workload pick up during this period.
Depending on how many clients they have, your professionals are likely to be working more than 60 hours a week. The last thing they’ll want to do is spend more time manually recording their hours and formatting their timesheets. Automated professional services time tracking software like Intapp Time can streamline this process for them — making the busy season a little less stressful, and letting your professionals focus on serving their clients.
Manual timekeeping processes aren’t just annoying and slow; they also often lead to inaccurate data. When trying to recall details about their various tasks from memory, professionals may underestimate their hours or forget to include impromptu activities like brief phone calls with clients or spur-of-the-moment meetings. This lost time results in revenue leakage in both the short and long run, as inaccurate time data creates an unreliable basis for estimating work and therefore negatively impacts a firm’s pricing analysis and strategy.
Capture your hours quickly and accurately
Intapp Time passively captures your professionals’ billable and nonbillable work, removing the need for time reconstruction and ensuring that their time submissions are complete and accurate. The solution provides suggestions for categorizations and engagements, and offers templates for reoccurring or similar tasks — such as the routinely filing of individual tax returns — that can automatically fill in narrative details, saving accountants additional time and effort.
In addition to offering automated passive capture features, Intapp Time gives you the option of actively capturing your work. The software can alert you when you begin working in a new application, and prompts you if the system should record the time spent on the previous activity.
Ensure compliance at point of entry
Intapp Time also ensures compliance with client billing terms at the point of time entry. A client may not allow accountants to bill for travel time, for instance. That means your professionals can stop spending time double-checking every entry, and managers can stop worrying about write-offs and write-downs due to noncompliant bills. Instead, they can rely on the professional services time tracking software to automatically notify them of any errors and prevent noncompliant submissions from moving forward in the billing process.
Work anywhere, anytime
Thanks to its mobile app, Intapp Time can also track and sync activity across a range of mobile and desktop systems, including productivity programs, phones, email, and calendars. This is especially convenient during the busy season, as your professionals can work anytime, anywhere on their preferred devices, even if they’re not connected to the internet.
Leverage insights to improve your work methods and processes
To further help your professionals make the most of their time, Intapp Time provides detailed time data reports and daily summaries of passively captured activity. This insight into daily work can illuminate how productive they’ve been, how well they’ve aligned to their priorities, and whether there are any obstacles hindering their productivity.
It’s important to work smarter, not harder, during the busy season. Automating tasks like time recording and gaining insights into time data can help your professionals be more productive and provide better service to their clients.
Schedule a demo to learn how Intapp Time can support your accountants and consultants.