Benefits of Time Tracking Software
Time tracking software is a key to understanding how employees spend their time professionally. It’s essential for productivity, understanding, and a smooth workflow.
Time Tracking Software is essential for everyone in an organization. Keeping track of your employees is vital whether you’re an executive, a manager, or a supervisor.
Time tracking software makes it easy to create invoices and fund payroll by allowing you to track employee work hours. But there’s a lot more to it.
There are many benefits of Time Tracking Software. Many businesses use time tracking software to assess team performance and on-the-job productivity since it allows them to keep a better eye on projects and individual activities.
Benefits of Time Tracking Software
Here are the 15 benefits of Time Tracking Software:
- Improve Employee Productivity
- Examine the Workflow of the Team
- Billing Clients Perfectly
- View Task Analytics
- Increase Employee Accountability
- Make the Payroll Method More Efficient
- Keep Top Performers on the Team
- Maintain a List of Contractors
- Set Project Priorities
- Make Project Timelines More Efficient
- Keep Track of Time on Several Devices
- Concentrate on Strategic Projects
- Projects are Compared Over Time
- Identify a List of Areas Where You Can Improve
- Excellence Should Be Rewarded
1. Improve Employee Productivity
Employees have the opportunity to assess every part of the workday, from the hour spent gathering research to the 20-minute break that turned into a quick conference call.
The employee can observe which tasks took longer than planned and adjust their work-life balance accordingly.
That break should have refreshed before tackling the next assignment psychologically. Instead, they’re exhausted and unable to perform at their best.
To summarize, time tracking software allows employees to take a deep dive into their work processes and identify opportunities for improvement, which helps to increase employee productivity.
2. Examine the Workflow of the Team
Time tracking software is sometimes misunderstood as just clocking the start and conclusion of the workday.
One of the benefits of time tracking software is that you can keep track of all the meetings, project assignments, and customer feedback sessions in the meantime.
As a result, you’ll be able to examine the team’s workflow and identify any gaps. For example, the employees should have completed the assignment in an hour, but it took more time.
What was the reason for the delay? What’s holding them up, and can you help them out with more resources to speed things up?
3. Billing Clients Perfectly
You may record billable hours with an employee time tracking system, making it easy to invoice clients.
For example, team A spent 20 hours working on the client’s project this week. At the same time, team B worked on research and modifications for another 4 hours.
You have information about all of the tasks that were involved, as well as which team members accomplished each stage.
Time tracking tools have to invoice built-in, so you don’t have to manually enter payable hours or migrate your data to another application.
4. View Task Analytics
Most time tracking software includes indicators that convert task timelines into visual data. How long did it require an employee to complete the assignment, and how did they spend that time?
The employee can create the most of your in-house resources with these analytics. Perhaps another team member can handle meetings, freeing up that employee’s time to redesign the website.
Especially if you’re on a fixed deadline and your major web re-launch is approaching fast.
For example, the first half-hour was spent rebuilding your website’s front page, while the next hour was spent video chatting with a client.
5. Increase Employee Accountability
Monitoring employee work hours is one of the most popular time tracking software features. You can see when employees arrive (virtually) and leave for the day.
More significantly, you’ll be able to evaluate employees’ work while they’re on the payroll. For example, instead of the half-hour lunch that was agreed upon, they take a one-hour meal.
One of the benefits of time tracking software is that it provides you with oversight over employees’ work hours and holds them accountable for their activities.
6. Make the Payroll Method More Efficient
The traditional payroll method requires a lot of manual data entry. For each department, you must gather all employee time cards. Then, based on their pay rate, figure out how much they made that week.
Time tracking apps handle the payroll process for you. You have to enter employee information, such as their hourly wage, and the system will do the rest. However, you can still alter their weekly profits by manually entering data.
7. Keep Top Performers on the Team
This is also one of the benefits of Time Tracking Software which helps employees see how much time they’ve spent working and what they’ve accomplished throughout that time.
As a result, they’re more driven to bring their A-game to work and enhance productivity.
They also value that time monitoring software provides them financial credit when credit is deserved.
They don’t have to be upset about not being paid for overtime or human error affecting their salary.
They can always refer to visual reports and calendars to double-check work hours. As a result, you may keep top performers and save money on new hire training.
8. Maintain a List of Contractors
When working with freelancers or other contractors, it’s essential to keep a close watch on their workload and hours to avoid blowing the budget. Make sure your contractors use the exact timesheets as your employees.
Maintaining an accurate record of hours spent ensures that you only pay for work that has been completed and allows you to track the performance of different contractors and assign work to the appropriate people.
9. Set Project Priorities
You can make schedule adjustments with a time tracking system like timeTracko’s calendar, milestones, and staff allocation capabilities. This allows you to re-allocate hours and alter deadlines easily for high-priority tasks.
One of the benefits of time tracking software is that your team can readily check the projected amount of hours for each step of a project and its current status. Visibility and accountability are combined in a single system.
10. Make Project Timelines More Efficient
Do you have a habit of letting work and deadlines slip by? This is a significant issue since it can harm client relationships.
Before you start lecturing your staff about how they need to work quicker, have a look at your project durations and timelines.
Are you trying to insert too much into your schedule? According to your time tracking software, each task on a job will take how many hours.
If you notice recurring patterns in specific project types or stages, your timetable may need to be adjusted to a more realistic timetable.
11. Keep Track of Time on Several Devices
What if you have remote workers, on-site workmates, or personnel that work all over the world? Is it still possible to keep a consistent time-tracking system?
Your entire team will be able to enter time quickly and correctly using a cloud-based time tracking system, no matter where they are or what they are doing. Everyone can use their preferred device to access an instantly updating cloud system.
12. Concentrate on Strategic Projects
One of the most significant advantages of tracking time across your organization is the ability to report on it.
You have access to a lot of information about your employees, jobs, suppliers, and profits, which you can use to focus your strategic direction and track your progress toward your objectives.
13. Projects Are Compared over Time
Do you want to compare the features of old and current projects? Do you want to know if you’ve increased the speed of a specific task?
Do you want to see how the proportion of various project kinds changes over time? timeTracko is here for you to solve your problem.
14. Identify a List of Areas Where You Can Improve
When doing a productivity audit, one thing to look for as part of your continuous improvement plan is areas and tasks that seem to take longer than others concerning each project.
If everyone on your team is having trouble sticking to deadlines for specific tasks, it could be a sign that a procedure needs to be adjusted.
15. Excellence Should Be Rewarded
Many employees, particularly those who aren’t used to time tracking, are concerned that recording their hours may make them appear weaker.
An accurate track of hours worked allows you, as the business owner, to know at a glance when quality work is being done and reward accordingly.
It may be appropriate to explore a promotion if someone routinely achieves their goal. Similarly, friendly time-based competitions or challenges can encourage employees to challenge themselves.
In this blog, we’ve talked about the benefits of Time Tracking Software for employers. Employee time tracking software ensures that employees are held accountable, yet they retain control over their workday.
They can assess how long tasks take to complete and keep track of projects to ensure maximum efficiency. Similarly, your company gets all the information necessary to charge clients and verify that payroll is accurate.
So, purchase time tracking software for tracking the work done by your employees. For more interesting blogs, subscribe to the timeTracko blog.