Why is it Essential to have a Right Time Tracking Software for your Business?
September 29, 2018
September 29, 2018
Time is the key to an effective business!!
Every business needs to time its operations to achieve its maximum efficiency and results. Time tracking software helps in making this efficacy. Time tracking gives insight into the productivity and the workflow ability of the team.
However, time tracking is often misunderstood as a burden to all the existing software integration. Many business software now equipped with time tracking and other features that help you manage your tasks.
Here’s how time tracking will help you improve your business:
- Productivity improvement:
Most often you find that your employees might seem lax in completing tasks or miss deadlines. In the long run, it can cost the business its revenue and reputation. Time tracking software eliminates this problem. The employees can enter the time taken for each task and assess themselves. They can also take it as a challenge to complete the next task in a lesser time when compared to the previous task.
- Payroll management:
Time tracking aids in payroll management and can assist in calculating the correct amount of salary. It is particularly beneficial when you have employees who work odd hours or remotely log into the system to complete their ongoing tasks. It also lets you know if an employee is working too hard.
- Overall stats:
Time tracking gives you an insight into the aspects of business operations, employee task completion pattern, customer service query completion and much more. It monitors and aids you in devising the best course of action to make your business more productive and profitable.
- Get paid for your time:
Time tracking software lets you exactly know how much you have spent on a project. By accurately tracking your billable hours, you can determine how much precisely every employee has contributed to finish the job and this would help you bill your clients accordingly. The work hours visibility even gives you an idea of whether you are getting a profit, or you are at a break-even point.
- Give the right estimate:
By keeping track of the work assessment or completion, time tracking software aids in improving your quotes and estimates over time. Time tracking software prepares instant reports for a different task and its completion time thereby enhancing your bills for the effort put in by you and your team.
- Monitor your outsourcing:
Sometimes, you may seek the help of freelancers to complete a job. However, there will be a tiny hiccup in recording their billable hours. You can add them in the time tracking software to monitor their progress. Keeping a precise record of their activities ensures that you are paying for the actual work completed. You can also analyze the work done by the contractors and freelancers and allocate the work to the right person.
- Prioritize tasks:
With a time tracking software, you can prioritize tasks by managing your calendar, factoring significant events and appointments, staff allocation, task allocation, and has many more features that enable you to zero in on high priority projects and re-allocate work hours. Moreover, your team will have access to the estimated number of hours at each stage of the project and can plan their schedule of completing the project accordingly.
- Information on fingertips:
When working on many projects at once or on a big project, it is a common to lose track of the completed, ongoing or future tasks. As there are many people working on it round the clock, it is tedious and difficult to manually keep notes of each task. But with time tracking software, you can see the status of the project or its work at any given time.
- Stick to schedules:
Having a hard time trying to stick to your delivery schedule? Then time tracking software is your best solution. Getting late on delivery schedules can affect your relationships with your customers. Checking your time frame for every task can let you know whether you are pushing too hard or being lax. Identifying consistent patterns in the past projects can assist you in making your time schedules more realistic.
- Get professional:
Often, clients have many questions like:
- The project is in which stage?
- Will it be completed before the deadline?
- Who is handling the project?
- What is going on generally? And many such questions.
The answer to this question is Time tracking software.
There are many time tracking software available in the market, and as a business owner, you should make a conscious decision in choosing the right fit for your business.
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