We still come across a lot of businesses that follow older time tracking methods such as Excel or other cumbersome tools. Although these methods are now being replaced by smart and easy-to-use leading edge time tracking techniques, some businesses fail to realize the importance of such developments.
So what are the benefits of these modern time tracking solutions? And how can businesses gain from them?
The answer is simple:
Quick and reliable software = Faster and efficient time tracking of employees = Greater productivity of employees = Better growth of the business = Higher profits for the business
So, there you have it! By implementing effective time tracking methods, a business can enhance its growth by monitoring employee productivity.
It’s important to ensure that employees spend their time in the most productive way possible because – at the end of the day – it’s your workforce that will help your company meet its visions and goals. But, imagine a scenario that takes place in a small business where the owner spends a considerable amount of time out of the office (which is fairly common) – it can be difficult to keep tabs on employee time and attendance. Or imagine a big business enterprise having thousands of employees working under different divisions and sub-divisions and the challenge to track time and attendance for all of these employees in an effective and efficient manner. Not to mention the burden that rests on the shoulders of those who have to maintain such data. This is where timesheet software’s come into play. These modern solutions help decision makers track the time and attendance of their staff in the easiest, fastest and most conclusive way.
Timesheets also help establish a proper synchronization between productivity and the employees – and also help to avoid the problem of over-utilization or under-utilization. Timesheet software can give you the power to arrange your employees’ timesheet flawlessly and also offer endless opportunity to track their performance.
Online timesheet software can also be useful for managing projects to easily track the activities of employees and assure that daily schedules are shared and followed… saving your business time and money.
A quick analysis of features of timesheet software can give you better insight into the benefits of using a them for your business. Some key issues include:
- Time and attendance:
The most basic features of timesheet software is to track working hours, log-in and log-out times and break patterns of employees.
- Tracking projects:
Tracking projects that an employee is currently working on or has worked on before and understanding time taken to finish these projects can determine an employee’s performance.
- Resource and cost allocation:
Timesheets can help provide real-time visibility into your projects, allowing you to better allocate resources, manage expectations and deliver projects on-time and on-budget.
- Expense tracking:
Certain employees are always on-the-go either meeting current clients or procuring new opportunities for the company. In these instances, employees can incur expenses with regard to stay, travel and other such expenses which are necessary for the business. Some timesheets also provide these added features where employees can upload information on-the-go so the employees can get reimbursed as soon as possible.
- Punch card system:
Timesheets also allow users to integrate with the punch card type of systems, where users need to flash their ID card marked with their unique QR code as and when they enter and exit their workplace which automatically enters these timings in their timesheets. This works well especially in manufacturing units or small businesses where the management prefers that their staffs punch their log-in and log-out times rather than manually entering it in timesheets. With this method, there is less chance for employees to add faulty working hours.
- Time tracking on-the-go:
Timesheet software also offers mobile apps on several user interfaces/platforms such as android and IOS(iPhone) where employees can conveniently enter working hours or book time off directly from their mobile devices.
So, as you can see, modern timesheet software have revolutionized time tracking and businesses are quickly catching up with this trend. Be it a small business or a large enterprise, timesheet software has made the lives of decision makers and employees hassle-free and more efficient.
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