A new survey came out last month – the Trends & Challenges in Architecture and Engineering International Report 2014* and it had some most interesting (but perhaps not surprising) statistics.
Architecture and Engineering firms throughout Australia and New Zealand are missing out on invoicing up to 30 percent of billable hours. According to the survey, almost three quarters of businesses indicated they recovered only 61-80 % of billable hours.
Loss of billable hours is a common challenge for all time based billing professionals, regardless of whether you bill on the basis of time engaged or a fixed price contract. It’s a challenge that needs to be constantly managed.