Why Do I Need Time Tracking?

In order to increase the bottom line of a family office, one of the key econometrics is understanding the relationship between the fee charged and the costs associated with each client. Understanding the fees charged to a client is usually well known based on invoices sent to the client. However, without a corresponding knowledge of the costs per client, it is impossible to know if the fee assessed is adequate. To understand costs, it is necessary to track the time spent servicing each client.