The importance of time tracking software aren’t just separate from the benefits of project management, they are also complementary.
If you’re the project leader of your own organization, it’s up to you to set your team on the right path—make sure they’re not wasting time and money on unnecessary tasks. Don’t expand too quickly, don’t spend all your money in one place, and above all else, don’t sacrifice quality for speed or efficiency. It’s up to you to ensure that everything is being done correctly. With the help of time tracking software, hopefully, you’ll be able to do just that.
And being able to provide a view of that data for each person in the company can be extremely helpful. Time tracking is a great way to increase efficiency, and it ensures that no one is slacking off. Having a dedicated help desk system is also a good way to increase efficiency and organization overall, as you won’t have to rely on the team itself for support-related issues.
What is time tracking software?
The time tracking software is designed to help a team keep track of all their hours spent on a job, project, or other activity. It usually allows us to break up the working day into different categories namely, billable and non-billable time. It also shows what tasks each team member has carried out in order for them to be paid. Time tracking software is excellent at helping businesses handle their finances better.
It will help you identify the main areas where you are wasting your time, and help you gauge how much time you spend on certain tasks. That will enable you to focus on the most important tasks and come up with plans for improving productivity. With time tracking software, it’s easier than ever to get a hold of your schedule, even when you’re working for multiple clients or in a very dynamic work environment.
Benefits of time tracking software
If you want to understand what some of the best time tracking solutions are, take a look at our review. We also compared four different alternatives that you can choose from and see what makes each one unique. We hope this article answered your question about the benefits of time tracking software for your organization.
1. Transparency in business processes
By making time registrations a regular part of your routine, you automatically increase the transparency of your business. It allows you to stay on top of the work process by providing insights into the jobs that are being completed and their duration.
2. Employees’ accountability has increased
Employees become more focused when they are required to log their time because they are aware that they must report the number of hours spent on tasks. During this point, everyone is aware that the clock is ticking and is attempting to be as productive as possible. Employees will begin to notice trends and patterns in their work hours by looking at their week and will strive to minimize non-billable tasks.
3. Tracking where the budget is spent
What is the best way to keep your project budget on track? Timekeeping is back! You don’t have to take any extra steps to calculate how much of the budget has already been consumed as employees fill out their timesheets registering time on projects and tasks. You simply need to ensure that the rate cards and hourly costs are set correctly.
Types of time tracking software
Time tracking for the project
However, best project time tracking software directly on tasks is a better option for larger organisations. This is most commonly done in solutions that combine project- and resource management. They make it easier to manage all of your tasks across projects and the organisation, providing you and your team with valuable insights into how to better manage time in the future.
Personal time Tracker
A few software solutions aim to make it easier to discover your digital time spent. RescueTime is one example of a program that can track your digital time across devices. Which websites and apps do you use the most, and how frequently? The time is then classified and valuable insights are presented, along with an overall productivity score. Based on this score, you can compare your work days from week to week, learn from your mistakes, and adjust your workflow likewise.
The thing to remember is that whether or not time tracking increases productivity, it will certainly increase your understanding of its current rate. And that’s valuable. There are plenty of ways to effectively use time tracking to manage the productivity of your team (or yourself) so it’s important to find the one that works best for you and your employees.
How to introduce time tracking software
All these benefits of time tracking software include increased efficiency, from which both employees and employers will be able to reap the rewards. If you want to get the most out of your employees, it makes sense to invest in decent time tracking software. And this goes beyond the realm of business too: Families and friends can also benefit from the seamless management and control over who does what—and when. Ultimately though, only time will tell; time is always telling.
Let’s Get Started
Now that you understand the advantages of time tracking, schedule a meeting with one of our product experts or begin a free 15-day trial to learn more about how Forecast can help your organization be aware of time spent and resource allocation across projects and tasks.
