Billable hours - the black hole in corporate UK

There is one, glaring, black hole in business and it is costing corporate UK millions every year in lost investments, according to research conducted by leading project management software developers, IRIS PROJECTminder.

It is the bottomless pit of tracking and managing billable hours.

Despite years of industrial development and new technologies, research shows that huge chunks of revenue are still being lost through employees not tracking and logging the time spent on each client project or effectively managing and charging for project changes. A well run project reflects on the company and the bottom line.

With the current economic climate, a failure to deliver anything but complete customer satisfaction is guaranteed to threaten not only revenues and jobs but could also lead to future project work going elsewhere.

The low initial investment associated with implementing IRIS PROJECTminder, because it is delivered using the software as a service method means now is a great time for small to medium-sized companies to increase productivity and to add value to products and services. Productivity and efficiency are, after all, a prime determinant for future profitability.