# Billable hours lost calculator

Check the accuracy of your billable time tracking!

Those who say that time is money are right. Precise resource tracking is critical for optimizing profits in the ever-changing and demanding world of business. Since there is no time to waste, take advantage of Memtime’s calculator. This accurate and reliable online tool will provide you with insights about billable hours. It sheds light on how many of them you're missing out on.

Simply fill out the form below to calculate how many billable hours you can recover monthly & how much you can increase your revenue potential:

1
Ø hourly rate x hours x persons
How many employees?
Average hourly rate?
2
How much time can you utilize?
What % of the time is billable?
Time employees actually work on projects?
%
3
How accurate is your time tracking?
How many persons track times...
…daily?
…every 2-3 days?
…once a week?
…less than once a week?
Results (mth)
You are losing 78 hours a month of which you could regain 72 with Memtime.
Conclusion
Invest €216 per year to increase your annual potential revenue by €86,400.
4
How is this calculated?
Overall hours = 174
Potential revenue = 17,400
Time tracking accuracy = 36 %
Billable hours (mth) = 122
Target revenue (mth) = 12,200
Results (mth)
...now...
with Memtime
Time tracking accuracy
36 %
95%
Billable hours assigned to the right projects
44
116
Billable hours forgotten or assigned to the wrong projects
78
6
Conclusion
If you use Memtime
monthly
yearly
72
864
Revenue, if you bill these hours
7,200
86,400
22
216

## The issue with tracking billable hours

Companies often struggle with identifying the causes of insufficient billable hours. Good news is that the main issue usually does not come from the lack of effort but from ineffective timekeeping. Even the most successful businesses lose a large number of billable hours every year.

Sadly, this can very often translate into real financial losses. Our calculator sheds light on this problem. The tool does so by coming up with the estimates of billable hours lost so that you can take action to improve on it.

We're strong believers in the notion of "What gets measured, gets improved" .

## Benefits of our calculator

Inaccurate time tracking is among the main causes of lost billable hours. Too often, employees forget to log hours worked on their projects. Guesstimates do not reflect the factual productivity of a team. You can fix this with Memtime’s automatic time tracking software.

But first, discover why you should care about calculating billable hours.

### Profitability insights:

• Get to know the revenue impact of missed billable hours in a month and in a year. Results might surprise you.
• Uncover the areas where improved time tracking can translate to higher margins.

### Perfect for hourly billing:

• This tool is especially useful but not limited to attorneys, lawyers and IT professionals.
• The calculator will be beneficial to your businesses if you invoice customers based on hourly rates.

• Automate manual admin. It is possible by giving employees the freedom to concentrate on tasks rather than forcing them to set timers for every task.
• Identify and fix inefficiencies in your current time tracking workflow to streamline procedures.

### User-friendly interface:

• The calculator’s interface makes it simple to use and navigate, providing instant results.
• Eliminate the need for complex tools and make a quick assessment of your lost revenue potential.

### Data-driven decisions:

• Make well-informed choices on time tracking improvements. Achieve them by utilizing the data produced by the calculator
• Adjust your workflow based on results. This will guarantee a more accurate picture of your daily activities and utilization.

## Free yourself from time tracking for 14 days

Our 14-day free trial remains free of charge. And your head remains free from time tracking. All you do is install Memtime and sit back.

You'll be surprised how much it captures for you in the background - while you focus on what really matters.