{"id":180,"date":"2023-12-19T16:51:15","date_gmt":"2023-12-19T16:51:15","guid":{"rendered":"https:\/\/www.dreamplaces.pt\/blog\/?p=180"},"modified":"2025-09-11T06:42:37","modified_gmt":"2025-09-11T06:42:37","slug":"meet-the-100m-ai-startup-that-wants-to-kill-the","status":"publish","type":"post","link":"https:\/\/www.dreamplaces.pt\/blog\/meet-the-100m-ai-startup-that-wants-to-kill-the\/","title":{"rendered":"Meet the $100m AI startup that wants to kill the billable hour"},"content":{"rendered":"

\"billable<\/p>\n

Many small businesses and law firms publish hourly rates upfront to ensure clear client communication. Given the effective ways to maximize billable hours in all firms, let\u2019s look at how resource management software can help. Tracking billable hours is essential for a business as it provides valuable data for decision-making, supports effective project management, and contributes to the firm\u2019s overall success. The more accurately you track your billable time, the better you can ensure you\u2019re being paid for all the work you do. Without precise tracking, you might undercharge clients, leaving money on the table.<\/p>\n<\/p>\n

Productive also offers integrations with popular invoicing and project budgeting tools such as Xero and Quickbooks, so you don\u2019t have to drop all your established workflows and preferred tools. Simply build your invoice in Productive, and then copy it into your preferred solution. This formula helps ensure that your rate covers your costs and meets your financial objectives. You can edit these time entries, round them for easier invoicing and payroll, delete them, or export them in PDF, CSV, or Excel format. You can also choose specific date ranges to show data from a specific time period and edit time entries. Again, it\u2019s easy to create, edit, assign, and track tasks in Toggl Track.<\/p>\n<\/p>\n

Other companies invoice their clients twice a month, based on the volume of work tasks. In some companies, billable hours are also used to monitor monthly project cash flow and budgets. This way, you can find ways to optimize your processes and increase billable hours and profits. The billable hours are those directly related to the client and that can be billed to the client.<\/p>\n<\/p>\n

Managers or finance teams should periodically review time-tracking data to check for discrepancies. This ensures employees are following policies and that the company is capturing all billable hours efficiently. For example, if you work 2,080 hours during the year, and 1,900 of those hours are billable, your utilization rate is 91.3%. Measuring utilization rates can help you benchmark employee performance and increase profitability. If some employees are working more non-billable hours than billable hours, you might have poor cash flow and unhappy clients. It might seem unnecessary in the moment to track a 5-minute phone meeting or the two minutes it takes to send a work email.<\/p>\n<\/p>\n

Step 4: Review and calculate your billable hours<\/h2>\n<\/p>\n