We still come across many companies using legacy time tracking methods like Excel or other cumbersome tools. Although these methods are now being replaced by smart and easy-to-use state-of-the-art time tracking techniques, some companies fail to realize the importance of such developments.
So what are the benefits of these modern time tracking solutions? And how can companies benefit from this?
The answer is simple:
Fast and Reliable Software = Faster and Efficient Employee Time Tracking = Higher Employee Productivity = Better Business Growth = Higher Profits for the Business
So there you have it! By implementing effective time tracking methods, a business can increase its growth by monitoring employee productivity.
It is important to ensure that employees are spending their time in the most productive way possible because at the end of the day it is your employees who are helping your company achieve its vision and goals. However, imagine a scenario taking place in a small business where the owner spends a lot of time away from the office (which is fairly common) – it can be difficult to keep track of employees’ time and attendance. Or imagine a large company with thousands of employees working in different departments and sub-departments and the challenge of effectively and efficiently tracking time and attendance for all of those employees. Not to mention the burden that rests on the shoulders of those who have to maintain such data. This is where timesheet software comes into play. These modern solutions help decision makers track their employees’ time and attendance in the easiest, fastest, and most meaningful way.
Timesheets also help establish proper sync between productivity and employees – and also help avoid the problem of over- or under-utilization. Timesheet software can give you the ability to flawlessly organize your employees’ timesheets and also offers endless opportunities to track their performance.
Online time tracking software can also be useful for managing projects, to easily track employee activities and ensure daily schedules are shared and adhered to… saving your business time and money.
A quick analysis of timesheet software features can give you a better insight into the benefits of using a timesheet software for your business. Some key issues are:
- Time and Attendance:
The most basic functions of a timesheet software are to track employees’ working hours, check-in and check-out times, and break patterns.
- Tracking projects:
Tracking projects that an employee is currently working on or has previously worked on and understanding the time it takes to complete those projects can determine an employee’s performance.
- Resource and Cost Allocation:
Timesheets can help provide real-time insight into your projects so you can better allocate resources, manage expectations, and deliver projects on time and on budget.
- Expense Tracking:
Certain employees are always on the go to meet current customers or explore new opportunities for the company. In these cases, employees may incur expenses related to accommodation, travel and other such expenses necessary for the business. Some timesheets also offer these additional features that allow employees to upload information on the go so employees can get reimbursed as soon as possible.
- Punch card system:
Timesheets also allow users to integrate with punch card systems, where users are required to flash their ID card marked with their unique QR code when entering and exiting their workspace, which automatically enters those times into their timesheets. This works especially well in manufacturing units or small businesses where management prefers their employees to clock their check-in and check-out times rather than manually entering them into timesheets. With this method, there is less chance for employees to add incorrect working hours.
- Time tracking on the go:
Timesheet software also offers mobile apps on multiple 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 has revolutionized time tracking, and companies are quickly catching up on this trend. Whether it’s a small business or a large corporation, time tracking software has made the lives of decision makers and employees less stressful and more efficient.