Software that tracks time and manpower is called time tracking software. Employees or groups can use it to track the time and manpower on particular tasks.
Time tracking software usually has the following features:
- Tracking time
- Tracking billable hours
- Taking screenshots of employee’s device screen
- Analytics and reporting
Top 10 Benefits of Time Tracking Software
The first and most important benefit of all time tracking tools is their ability to provide objective metrics that you can use to optimize and improve your business processes.
Let’s take a look at how it works in detail.
1. Keep track of how your employees spend their time
This isn’t to say that your team members might not be working hard from time to time. People are human, so it’s normal for employees to be inefficient with their time, focusing on matters that aren’t important or urgent.
You may argue that I trust my team. But, a recent survey by HR.com found that 43% of hourly-paid workers admitted to exaggerating their hours.
Time tracking software allows you, the manager, to see exactly where, when, and how your employees spend their time. This will help you set priorities.
2. Check out how long it takes to complete a task
You know how important it can be to provide accurate estimates and quotes if you work in a web design/design studio. Sometimes the exact order you get from a client is dependent on your ability to give accurate estimates and quotes.
Software that tracks time allows you to do just that. Keep track of how long it takes to complete common tasks and the number of expenses.
3. You can save money by only charging clients for the actual amount of work done
You will rarely find two tasks that are 100% the same. In these cases, you may need to spend more than necessary to complete the task.
However, clients can be difficult to work with, especially when they ask you to pay more than you had previously agreed upon. Clients would like to be able to provide justification and reasoning. That’s where time tracking apps can come in handy.
4. Avoid Micro-Managing
This allows you to save time checking on employees or asking them to submit work reports. This will allow you to spend less time micro-managing and more time on strategic planning.
Many times tracking tools run in the background without your even realizing it. People who are worried about or afraid of time tracking software are often people with something to hide or lazy people who don’t want their secrets to be exposed.
5. Time Tracking Motivations and Disciplines
You can always improve, even if you’re a motivated person with no time to waste. Your work is being monitored and clocked helps you stay focused and not drift off the path to great success.
As a worker or freelancer, you might find yourself challenged to do a task faster than your co-workers or self.
6. You can manage your pricing more effectively
There will come a time when you’re pricing needs to be reviewed – often in the form of raising it. How can you tell when it is time to do this? Analytics from time tracking software may help.
The average time to complete a given task is what you get. Next, subtract the average time spent on completing a typical task and other expenses. This will determine if your current price is still within the acceptable range. If it is not, it’s time for you to adjust the rates.
7. Connect to your Payroll
It i possible to integrate the data from time tracking software and the payroll system you use. This will allow you to cut costs while still getting a complete picture of what’s happening in the “Salary” department.
8. Enhance your planning and budgeting
While a time tracker tool will not allow you to do this alone, it will give you a lot of information and insight when you are planning.
All information about work estimates, rates, timelines, and deadlines will allow you to adjust your plans and maintain a balanced budget.
9. Monitor and manage the efficiency of your employees
A wise manager will allow your subordinates the freedom to develop and take on additional responsibilities. You can also encourage or punish them. How can you choose who to promote?
Time tracking software offers many benefits. It gives you all the information you need to evaluate your team’s performance and each member individually.
Most time tracking tool can easily be integrated with your current project management software or business software via their API to achieve maximum ease.