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Apr07

What Are the Benefits of Time Tracking Software?


Everyone knows the saying that time is money, and anyone in business knows that this is very true. When you are running a business, whether you are the only employee or you have a stable of a hundred or more workers, if you are wasting time, then you are wasting money. Since you are reading this article, you know that it’s time to stop. You need to make some changes, and you need to do it soon. One of the best ways to do that is by implementing time tracking software for your company. It can actually help you in a range of different ways. Let’s look at some of the biggest and best benefits that using the right software can offer.

Keep Better Records

For many individuals, as well as small and large companies, keeping accurate records can be difficult. With proper software, it’s possible to track time spent on various projects far more easily, and it’s possible to create records for individuals, groups, and companywide so everyone has the necessary information.  Consider the way that you are currently keeping track. Chances are you are using a paper and pen method, or you are using software built for other purposes. It is a far better and more efficient idea to use software specifically geared toward time tracking.

This is also much easier for your employees. Instead of trying to remember the paper timecards, they can simply log their information into the computer. They can be sure that accurate information goes to the accounting and payroll department.

See the Waste and Eliminate It

Once you start tracking time, whether on a personal scale or across the company, you will start to be able to see the biggest time wastes and sinks. For example, some companies are spending an exorbitant amount of time in meetings each day. By combining topics into a single meeting, it’s possible to eliminate the ones that are unproductive and that could be sucking away all of the employees’ time.

Consider these numbers. If you have two meetings a week, and each lasts for half an hour, that’s one hour of downtime for each employee. Cutting this in half saves plenty of time and can help to make your employees more productive. One of the other things that you need to remember about meetings is that the downtime lasts for longer than just the meeting. It can take employees several minutes to get to and settle into the meeting room, and another five or ten minutes after the meeting to return to work and get back up to speed.

Of course, meetings are just one of the areas where you might see waste. You might notice that some employees, or you, spend too much time on the phone or on the web when you really should be working. One of the nice things about time tracking software is that you will notice the discrepancies in time reporting by you and your employees, and that means you can get a much better handle on where you are wasting time.

Create Accurate Estimates

Anyone who has to provide estimates to clients and customers will love the fact that time tracking software will give them a much more accurate picture of how much time and effort they are spending on each task and project. This lets them give those new and returning clients a better idea of just how long the project will really take. This is great for both you and the client. It ensures that you do not overcharge or undercharge the client for the job.

Track Employee Progress

How well are your employees doing? Are they making fast enough advancements with the projects, or are they still floundering and having trouble with the task? Having time tracking software can give you a better idea of just how each employee is doing and who could use a bit of extra help. They might need to have retraining, or they might need to have another person to help them with the job. You don’t need to use this to punish the employees. Rather, you are using it to see where they need help, and this will ultimately help you to create better schedules.

Connect With Payroll

Another one of the great things about the best time tracking software on the market today is that you can have it connect to payroll. This can make things much easier for everyone in the company. The employees can provide their records via this system to payroll, which can then create accurate and on time payments. However, it is very important that all of the employees are reporting their time accurately, and that they are using the software each day. If they are not using it properly, it could cause trouble.

A good option to eliminate errors is to give department managers the ability to look at the records to ensure their accuracy. For example, if time records show an employee was absent, but the employee and the manager know they were at work, they can correct the problem before it gets all the way to payroll.

Going Mobile

Another very nice feature is the fact that the systems are able to accommodate mobile employees. They do not have to affix to certain computers at work. Employees, such as those working from home or those who are traveling for business, can still log in and track their time through any web-connected device.

Better Planning

In the end, the time tracking system will allow you to plan better overall for your company. You will know your capacity and how long it takes to complete different projects, and that can make it much easier for you to find ways to improve your business and to take on only as much as you can handle.

These are just some of the boundless benefits that high quality time tracking software can provide. Companies of all sizes, and even solo entrepreneurs should consider getting a program that has all the features they need.

Resource: http://www.streetdirectory.com/travel_guide/135615/software/the_advantages_of_time_management_software_explained.html

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  • Plombier Bruxelles says: 

    Anyone who has to provide estimates to clients and customers will love the fact that time tracking software will give them a much more accurate picture of how much time and effort they are spending on each task and project.

     
  • Nepali Blogger says:  (@sirishpaudel)

    Hi Rikke! This is really an informative article. Kudos to you. One of the major benefit of a time tracking software is that it makes everyone accountable for the time they are committed to the project which I believe leads to increased transparency and ultimately leads to productivity. Cheers!

     
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