6 Benefits of Using Time Tracking Software
A lot of businesses prefer to not track time, citing reasons such as not wanting to micromanage or being slowed down. Oftentimes, it’s viewed as a bothersome administrative task, and one that may inhibit the creativity and focus of your team.
However, time tracking can do wonders for your business. It doesn’t have to culminate in you micromanaging your team or inhibiting their creativity. Just choose a great time-tracking system, and avoid those inconvenient ones, which may result in your team not bothering to use it at all. We recommend a cloud-based time-tracking system. This makes it possible for your employees to track their time anywhere, any time, using any device.
If you’re still wondering what advantages time-tracking can offer, we’ve got your back. Read on to learn some of the reasons why you should start tracking time.
1 – Maximize your team’s productivity
Is your team frequently unsure of what tasks they need to be completing, or having no sense of urgency even when faced with a major project deadline?
This doesn’t necessarily mean that they are neglecting their work duties. They may just not see how pressing the time frame is, or are unaware of the amount of work that lays beyond today’s to-do list.
With time-tracking, your employees will have a better idea of how they are performing. They may even take it as a challenge, trying to shorten their time for every project. Having them be in charge of their productivity helps them to take ownership of the tasks they have to complete. They’ll have a better view of what they have to do next too, so there won’t be long gaps between tasks while they figure out what they have to do next.
2 – Make your quotes and bills more accurate
Your clients will appreciate how precise your quotes are. If you know exactly how long it takes you to complete a particular job, your quotes will be more spot-on every time. With tracking software, you can produce reports and bring up the time it takes to complete particular tasks. That way, you can combine the times of each task to produce accurate quotes.
It’s the same for billing. If you know exactly how long you took to complete a job, you know exactly how much to bill your customers. A rough estimate is just that. Even an additional fifteen minutes counts. Every little bit adds up. If you don’t account for your time, you may be missing out on a great deal of revenue that could have been yours if you had just tracked your time to bill for it.
3 – Know what’s going on with your freelancers
Freelancers or contractors may not be working full-time, but you are still paying for their time contributing to your projects. Therefore, have them fill out timesheets and track the time that they work. That way, you’ll be paying exactly for the work they’ve done. Additionally, you can see their performance on different tasks, which helps you distribute work to the appropriate people.
4 – See how a job is doing in an instant
Have you ever had a client call to check in on the status of a job and have to rush around to 3-4 different people, trying to find out? There are often a lot of people working on a project, and several in the works at one time, so it can be challenging to know exactly where each project is in real-time.
With time-tracking software, it can be easy. You don’t need to call the contractor – all you have to do is click into your software and check the status of a project. If there are many projects in progress, you can filter the list easily by department or job type to find the one you’re looking for. Cloud-based software will make it even easier – you don’t even have to be at work to track how each job is doing.
5 – Prepare realistic project schedules
Sometimes you may set a project completion goal, only to exceed it by several weeks, or even a couple months. If this is a regular occurrence at your company, you may find that it is negatively impacting the perception customers have of you.
Though inefficient work could be one of the factors, often it is just not having a realistic estimate of how long a job should take. You may find that your estimate was unrealistic in the first place.
Time-tracking software makes it possible for you to know exactly how long your team has taken to finish similar tasks in the past. With that knowledge, you can develop much more realistic project schedules, saving your team from feeling demotivated and your client from being frustrated.