My Hours offers 8 billing methods to choose from, ensuring you are billing your clients fairly while also accurately reflecting the rates of your actual work. This is not a common feature in most time tracking tools in the market.
My Hours is a cloud-based time tracking software that calculates working hours and also sorts them by projects or clients. This software is the one time tracker that focuses on improving profitability directly. Which is in contrast to the indirect method other software products employ by first improving employee productivity. My Hours improves profitability by giving users the chance to choose a range of billing options that best suits their business operations, by calculating project profitability as it runs, and providing analytics that shows whether the project is on the right track to profitability or not.
An example of this software's many billing methods is the project-based hourly rate structure. With this billing method, users can set hourly rates for projects. And every task within the project will be billed based on this central hourly rate.
So, for example, if you set the project rate to be $100 per hour and three team members worked on different tasks for four hours within the project, the total billable amount for those hours worked will be $400; regardless of the individual hourly rate of the three employees that worked on the project. This kind of billing method is called time and materials pricing and it is best useful when the scope of the project or its duration cannot be determined before work begins, as is sometimes the case in construction projects.
My Hours makes it possible to set seven other billing models that best suit your business. These models include task-based, employee-based, daily rate, weekly rate, fixed task rate, fixed project fee, and lastly, monthly retainer, which is best suited for clients that have recurring projects. You also get to track business metrics using the five reports this software makes available on its platform.
With My Hours’ dashboard report, you get an overview of how your business is fairing with respect to the total hours you have tracked for the month across all projects, total billable hours, billable amount, and the average total billable rate per hour. The activity report is the most detailed report on My Hours as it contains all the information on what every member of your team worked on during the day or, by using filters, a select time range. You can also filter by clients, team members, tasks, and projects. The timesheet reports show time entries, and the economy report shows you whether your projects and overall business is profitable or not.
My Hours claim they offer attendance tracking and absence management but they do so in a very unconventional way. For attendance tracking, you simply get to use the activity report at the end of the month to see who was absent at certain dates or present. Their absence management feature is even more unorthodox. The best way to go about managing absences on My Hours is to create a project titled “absence” and adding all the possible types of absences (sick leave, annual leave, maternity leave, etc.) as tasks in that project. Your team can then simply schedule the absence project for the day they would miss work. You wouldn't really call this absence management but if you must use My Hours for your time tracking, the information above is nice-to-know.
Spica International is the parent company that founded and owns My Hours. They also have another time attendance solution known as All Hours. All Hours offers more robust attendance management features, leave management, scheduling, payroll, geofencing and a time clocking system. This software is best suited for mobile teams or offline businesses that report to a central location. While My Hours works best for remote teams. Unfortunately, Spica International offers My Hours and All Hours as separate, stand-alone applications. You cannot merge the two on a single price plan. We reached out to them concerning this and they assured us that they plan to integrate both softwares on a single platform in the future.
KPMG, Aurora, Semaphore, TypeFox
My Hours also offers:
My Hours offers two pricing plans. They are as follows:
My Hours is a product of Spica International - a Slovenian software provider of human-centric and smart workforce management solutions. Spica International is one of Slovenia’s most successful IT companies with their core business niche in supply chain management and human resource management.
Spica International was initially solely based on Slovenia but, through the help of Gartner and Microsoft, they were able to enter the US market in 2002 with their time tracking solution - My Hours. One key factor that contributed to their success in the US market was the fact that Gartner - a technological research and consulting firm - listed My Hours as one of the world’s 20 representative vendors for workforce management applications in one of their special reports.
This move accelerated the software’s acceptance and inadvertently cemented their status in the time tracking industry. My Hours, today, is trusted by 100,000 companies, one of which is KPMG.