Do you know that the hours spent on a project are differentiated as billable and non-billable?
For every professional who works for clients, ‘time is money’. And it’s not about only these professionals/ freelancers who face such issues but also the business persons who have full-time employees working for them. So, what is the issue here?
It is about monetizing every moment of the working day and precisely creating an invoice.
What is an Invoice?
Whatever the payment terms that will be agreed between you and your client will be stated on this invoice.
In simple terms, it is a bill, where, as a businessperson or freelancer you can ask for the money that needs to be settled.
Billable Vs Non-billable, what issues can come?
For instance, internal meetings, calls, emails, bug fixing, code refactoring, code review, breaks, and well these definitely don’t get added to the invoice (billable) list certainly.
In this blog, we are going to learn about making better estimates by reducing the non-billable time. If we look a decade back, trust was everything, so every second you spent on a project was accepted and paid for. But today, things have changed, for instance, you may be making some corrections, for which the client may not accept to pay for. So, how to reduce such non-billable time? We will learn in detail.
3 Ways to Reduce Non-Billable Time
- AUTOMATE THE REPETITIVE TASKS
- Time-consuming repetitive tasks, how to deal with them?
- Most of the non-billable tasks will be repetitive and time-consuming and the best way to deal with such width of activities is to automate the processes.
- Compared to manual operations, automation is one of the easy and affordable solutions and helps in working for the demanding clients.
- OUTSOURCE THE NON-BILLABLE TASKS
- You may be having a small business but if you let some non-billable tasks take hours off your valuable working time and affect your productivity then it’s worthless.
- The whole marketplace is filled with freelancers and looking for them or paying them will never be a big task. Through outsourcing administrative tasks, you can actually give yourself more time on the billable tasks.
- CHOOSE THE OPPORTUNITIES CAREFULLY
- Opportunities, clients, money, you may feel like you have become invincible but have you ever thought of the possibilities?
- For instance, you are a web development agency with a little specialization in internet marketing and as a chance, you may earn few projects, so what will be your possible decision?
- Opportunities may come, but what is the guarantee that you will give a quality service within those billable hours?
It’s a short message: play to your strengths.
The modern financial issues are something that needs to be addressed simultaneously and effectively. It’s become common to witness disagreements cropping up when it is concerned with billing the tasks.
Projects lag on for different reasons, but in the end, clients will be concerned with only two things, the end product and the bill, which, they are to pay.
So bill your time efficiently and get your clients through the process once. Give them some idea of the possible unforeseen situations that may come up.