Many people admit to wasting time when they’re on the clock. Through the use of time tracking software, you can prevent employees from wasting time while tracking their normal work hours. Instead of having to pay someone to monitor productivity, you can use this effective software instead.
When you work as a project manager, it can be difficult to deal with common issues, like scope creep, lack of accountability, lack of clear deadlines, and goal-setting issues. The right software can help you track payments, pay employees, manage timelines, and set goals. As a result, you can enjoy better productivity and profitability while doing less hands-on management work.
What Is Time Tracking Software and How Does It Work?
Time tracking software helps you manage projects and accountability. You can improve your project’s visibility and job costing. Other than paying your employees and contractors, you can process payments online and monitor your budget.
This kind of software makes watching your costs, budgets, and timelines easy. It can be integrated with accounting software, so you can enjoy even better visibility. In essence, time tracking programs can handle some of the day-to-day tasks normally dealt with by project managers, so you can spend more time on your projects.
How Time Tracking Software Can Be a Game-changer for Your Projects
If you want to start improving project management, time tracking software can help. It is designed to track expenses, reduce administration time, and allocate resources effectively. Through project tracking software, you can run your projects more effectively and improve your bottom line.
1. Allows You to Track Time and Activities Against Your Project Budget
One of the major reasons why people use these tools is to track time and activities. As a project manager, your team can only devote so many resources to each task. You don’t have time to manually compile how each person spent each hour of the day on a daily basis.
With project tracking programs, you do. Through their flexible time tracking features, you can track what team members are working on in real-time. Then, you can instantly see if any project is going over its hours or budget.
2. Reduces Administration Time, So You Have the Data You Need to Make Real-Time Decisions
Before QuickBooks and spreadsheets existed, accounting data was created by hand. If your boss decided one factor in the spreadsheet needed to be changed, you had to get out a pen, paper, and calculator to completely recalculate every single square.
It’s hard to imagine just how inefficient office life was a few decades ago since we can now access world-class software at our fingertips. Like spreadsheets, time tracking software can speed up your workday. You still get the same data you had before, but it arrives in real-time without any effort on your part.
3. Tracks Expenses
Another way this software helps with improving project management is through expense tracking. As a project manager, the last thing you want to do is spend your entire day tracking every penny. Expense management programs can automatically track payments as they arrive and subtract your expenses, so you don’t have to.
4. More Effective Resource Allocation
Without time tracking programs, it’s hard to see where all of your labor hours and budget end up going. One employee can end up handling an unnecessary task all day or all week without anyone realizing it. Unless you have visibility of your resources, it is impossible to see where all of your labor hours are being spent.
Time tracking programs are instantly updated to show you who is working on what project and where your money is going. If there is a problem with an employee or a major deadline is approaching, you can see which team members can be easily reallocated to new tasks.
Other than helping with time management, your resource allocation is important for another reason. Many businesses earn a small marginal profit from their activities. If you don’t know where your resources are going, you could end up using up your marginal profit on inefficient activities.
5. Enjoy Better Mobility
Today, many employees expect to work and collaborate in a remote environment. If you don’t have the right time tracking software and tools, your team will perpetually be tethered to a desk. Plus, if someone has a question after work has ended for the day, you wouldn’t be able to answer their question until you arrive at work again.
Through the right software, you can manage your business using an Android or iOS device. These programs are designed to function offline as well. If you do make offline changes, the collaborative account will update with the new information once you are online again.
Because time tracking programs can work on smartphone devices, you can easily handle schedules, online payments, and invoices while you are on the go. Plus, the best programs can be purchased through Google Play, Amazon Appstore, and App Store.
Additionally, you can integrate your time tracking program with other business management apps. For example, you can sync your Google Calendar, work offline using Windows 10, or link your time tracking app to Outlook. Plus, you can use Google Home, Amazon Alexa, and other digital programs.
6. Review Business Reports to Boost Your Productivity
Through time tracking programs, you can gain better oversight of your team’s operations. The business reports make it easy to create A/R reports, contractor reports, and employee reports. With these options, you can manage accounts receivable and see if your contractors are artificially increasing their billable hours.
Plus, you can share these updates with your team. Unlike children, adults want to know why they have to do something before they do it. By sharing business reports, you can give your team members motivation and encouragement.
Discover World-Class Time Tracking Software Today
The best time tracking software, such as Time Tracker by eBillity, can help you streamline your business management practices and improve your overall productivity. If you want to discover how this Time Tracker works start a free 14-day trial today to get started.