Features

Cost Rates

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Interface detailing 'Capacity & Working days' and 'Rates' for an individual, showing checkboxes for workdays and fields for setting billable and cost rates.
Trusted by tens of thousands of users, in some of the biggest companies

Enhance Profitability with Custom Cost Rates

a selection menu for 'Projects and Hourly Rates' with six projects listed including 'Agency Task: The Digital Alchemy Project' and various Nike-related tasks.

Enter custom cost rates for your team, giving you the ultimate flexibility and accuracy in project costing. No more generic rates or rough estimates!

By assigning specific rates to individual team members or even entire workspaces, you can ensure that every hour logged is accounted for accurately.

Not only does this level of granularity provide a more detailed breakdown of costs, but it also opens up a world of possibilities for insightful reporting.

Want to know which projects are bringing in the most revenue? Curious about the profitability of certain clients? Timely's Cost Rates feature has got you covered.

So, buckle up and get ready to revolutionize your project management. Timely's Cost Rates feature give you the power to make informed decisions, maximize your profits, and leave your competitors in the dust.

It's time to take charge and unleash the true potential of your team!

User setup interface indicating 'Employee' access level with the option to hide cost rate selected, and the capacity.

Effectively Managing Cost Rates

Effectively managing project costs is crucial for maintaining profitability. In this video, we break down key strategies using Timely to ensure accurate cost allocation:

Video cover for Managing your cost rates.
hasan and co. crew photo
Proactive project estimations and budget control
“By capturing every hour that goes into each project, we can follow project budget spend to proactively manage the return of our work… [and] calculate better base hourly rates for future projects.”

Oskari Leino

Director of Business Control & Operations

Corsearch image - Man on the top of a mountain
Corsearch keeps OpEx low and makes better staffing decisions with Timely
"Reports help us make decisions on a weekly basis about team capacity and hires. Now we manage our costs better, to the point where we actually use the time that we have as a company to create value for clients."

Ivan Rainovski

Delivery Director at Corsearch

Walpole office space
Walpole reduced sunk time and labour costs on unrewarding contracts
"In the past, we never had 'lessons learned' after-the-fact. There was no transparency over effort put in. A project could have been costing the business more than it was making.”

Stuart Wymant

Customer Success Manager

Affinis - Office space
More time for client work.
"Timely has taken the time tracking workload from our consultants and freed their time for more important work.

Before Timely, it took me two hours a week to track my time across all tasks, clients and projects. I had to create another time entry for tracking the time, which was totally inefficient.”

Christopher Schwarz

Consultant

Create office space
Create gets a handle on budgets and business costs after creating accurate worked time reports in Timely
We’ve now just started to properly use the time budgeting, especially on large projects, so now it’s mostly running reports. We go in to run a time report on each member of staff, how long they’ve used it to create a project”

Sophie Warner

Director of Operations

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Yummygum gains insights into competitive pricing and services
"We can estimate our performance against competitors to offer competitive pricing that we know is profitable."

Vince Schwidder

Founder and UX Director

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G2 4.8 stars out of five!

Optimize Project Management with Tailored Cost Rate

Project dashboard for 'Video Production' showing total logged hours and earnings, percentage of budget spent, and a graph comparing planned versus logged hours over several months.

With Timely, you have the power to set tailored cost rates for each team member or workspace, ensuring that your project costs align with reality.

Imagine the peace of mind that comes from knowing exactly how much each hour worked is worth – no more surprises or inflated costs.

You'll have a crystal-clear view of your project's financial health at all times.

Not only does Timely's Cost Rates feature streamline your project costing, but it also opens up a world of opportunities for smarter resource allocation.

By understanding the true cost of each team member's time, you can assign tasks strategically, making sure the right people are working on the right projects.

This optimization translates into increased productivity, happier clients, and ultimately, a healthier bottom line.

Screenshot of a project management dashboard for the Digital Alchemy Project, showing tasks and invoice creation options.
Analytics dashboard showing a bar graph of logged hours, both billed and unbilled, across several months, and a breakdown of hours, revenue, and planned work for individuals, with an user having the highest logged hours and revenue.

Gone are the days of relying on generic rates or cumbersome manual calculations. Timely's Cost Rates feature puts the power of customization in your hands.

So, get ready to supercharge your project management, unlock new levels of efficiency, and watch your business soar to new heights!