It’s everyone’s favorite time of year.\nThat’s right. It’s time to look back on all the progress we made in 2018 as we prepare for the new year. If you’re a business owner or entrepreneur, you know what that means.\nIt’s time to create a Year in Review.\nHere at Hubstaff, we believe in tracking more, so you can make better decisions in the future. The good old-fashioned year-end review process is not only a chance to celebrate key milestones but also prepare for an even better 2019.\nWhat’s next? Which goals are we still going after, and which new objectives will we set our sights on in the new year?\nThus, we created our Hubstaff 2018 year in review. But, we didn’t stop there.\nGet your own business year in review template\nIn addition to gathering our key performance metrics (KPIs) and results, we’ve created a helpful template so you can use your Hubstaff data and other business metrics to generate your own year-end review. Check it out.\nStep-by-step template\nOf course, there’s more than one way to look back on the year. This is our process and template, which helped us decide what to include.\n\nGather data: Look first at the numbers that matter. How have you helped customers this year? How many new products, services, or industries did you launch this year? How much did your revenue grow?\nLook inward: Then, think about your company culture and growth. How many people have you added? If you’re a remote team like us, check how many Slack messages or video calls your team had together. How many meetups? How many new initiatives did you launch as a team?\nLiven it up: Finally, the fun stuff. Think about what makes your company unique and then highlight that in your year-end review as an added bonus. Since maximizing time is a big goal for us, we like to look at year-end metrics such as, “How much time did we save by not commuting to an office?” or “What’s our dog-to-cat fans ratio?” (It’s 17 dog people to 6 cat fans last time we checked.)\n\nYear in Review: Hubstaff by the numbers\nWithout further ado, here’s how our 2018 went. We used tools such as Baremetrics, Slack, Intercom, Hubstaff, and more to easily compile this list. *Data based on October 2017-October 2018 unless otherwise noted.\n\n49% Customer growth\n\nThat’s right, 7,509 customers signed up in the past year; an increase of almost 50% from 2017.\nBut we also grew in other ways, earning us this special honor:\n\nHubstaff made the Inc. 5000 list!\n35+ New features and updates released\nPart of the reason we can look back at 2018 fondly is because of the features we released. The Hubstaff team worked hard to give customers the functionality that would help their businesses run better, now and in the future. Here are a few new features from 2018.\n\nTime off and holidays\nAdding clients and budgets, editing tasks, project search and better invoicing\nTimesheet approvals\n13 new reports\nAdding tasks to projects\n11 new features launched in March\n\n1 Major integration added\nRead more about our added payment integration with TransferWise.\n\nHubstaff customer metrics\nWe couldn’t give a proper year in review summary without talking about our customers. Here’s a sampling of metrics we look at quite often.\nBusinesses using Hubstaff\n10,860\nIndividual users\n61,044\nAverage team size\n5.6 people\nMost common plan size\n3 people\n\n \n130% Growth for Hubstaff Talent\nOur completely free talent and job posting platform, Hubstaff Talent, also had an impressive year. Our teams focused on making the hiring and job searching process easier, by connecting remote talent with businesses. Here’s how 2018 went.\nTotal approved profiles in 2018\n26,730 added\nTotal approved jobs posted (all-time)\n11,243\nJobs posted from Dec 1, 2016, to Oct 14, 2017\n3,402\nCompared to jobs posted Oct 15, 2017, to Oct 15, 2018\n7,841 jobs\n \nAll of that adds up to\n130% growth in jobs posted on Hubstaff Talent in the past year\n\n \nThe financial side of Hubstaff\nHubstaff embraces transparency as one of Baremetrics’ open startups. We think it’s important not only for establishing trust, but for getting our whole team committed to the company’s goals. You can read more about why we chose to embrace revenue transparency, and how it’s helped our business.\nAn added benefit? Pulling together our financial year-end review was pretty simple.\n60.4% Increase in Monthly Recurring Revenue (MRR)\nThis is one metric that’s been steadily growing in 2018. We’re working hard to keep it that way in 2019.\n\n77% Growth in net revenue\n\n$814 Lifetime value (LTV)\nReaching its highest in June 2018.\n6.1% User churn\nHighest of 2018 – 6.8%\nLowest of 2018 – 5.4%\nAverage at year end – 6.1%\n7.7% Increase in average revenue per user\n\n \nHubstaff team metrics\nA summary of our Hubstaff team in 2018. Plus, some other stats that we find interesting.\nTeam growth\n43 team members\nIn 11 time zones\nAnd 14 different countries\nSlack messages sent\n215,470\n77, 416 Support tickets responded to\n\n \nWith overwhelmingly positive feedback.\n\nTeam data from Hubstaff\nTotal hours worked across our team\n56,907 hrs 21 mins and 35 secs\nAverage activity rate\n51%\nTasks completed in 2018 – Reported by Hubstaff Tasks\n986\n\nRemote team culture\nBeing a fully remote company comes with plenty of advantages. Here’s how a year of working remotely looks in terms of key metrics, starting with the most important one: commute time.\n\nHours spent commuting vs. average\nThe average U.S. commute time is 26 minutes (a fairly steady increase since 1980). We each saved 9 days by not commuting to an office. And that’s if it was located in our own city!\nIn total, that’s 387 days saved as a team by working remotely.\n \n1 Annual retreat hosted\nWant to know more? Read all about our Hubstaff Lisbon retreat.\n22 Team members attended\n5 Hackathon projects completed in one day\n136 Pasteis de Belem consumed\n19,110 Average steps per day\n\n \nHere’s to 2019\nNow that we’re recapped the year, we’re onto the next set of goals.\nIn the next year, we’re going to keep finding ways to help customers reach new levels of productivity. That means:\nAdding more to mobile\nA more robust mobile app is coming in 2019. You can look forward to:\n\nMore functionality built into the apps, including timesheets, schedules, and reports\nTools specifically for field services teams\nGeofencing! Which means automatic start and stop for mobile timers based on when you enter or leave a work site\nAbility to create tasks in mobile\n\nIntegration improvements\n\n2019: year of new integrations!\nThis year will be about making more your business software work happily together\n\nHubstaff Tasks\nTime tracking and project management are better together. When Hubstaff Tasks gets a full release in 2019, you’re going to experience the benefits firsthand. Hubstaff Tasks is a visual, simple PM tool that allows you to move tasks and projects through a workflow while tracking time to those tasks in Hubstaff. More on that to come.\nBetter reports\nCharts and filters are coming soon to an app near you. And that’s in addition to the 13 new reports we added this year.\nJust, all-around more improvements for customers\nSure, this one isn’t as easy to describe as the others. But we have a ton of updates and features in the works so it’s best just to say this: You can expect an even better Hubstaff in 2019.\n\nContinue to improve UI\nAn invoice pay button\nEven faster syncing with integrations\n\nTo our customers, thank you for your continued support. We have a lot of exciting things coming in the next year. If there’s something you’d like to see Hubstaff do in 2019, let us know in the comments.