10 Key Reasons Why Time Keeping Apps are Beneficial
Time keeping apps supply business owners and management professionals with a wide range of benefits. From a simple time clock web app to a more comprehensive automatic time tracker software program, there are so many different tools for business professionals to consider investing in and implementing.
10 significant benefits for businesses using time tracking apps, tools, and software include-
1. Employee Productivity
Employee productivity is often considered a top concern for small business and large corporation owners alike. Time tracking software and tools can help both business owners and team members to identify problem areas, track trends, and increase employee productivity in a sustainable way.
Even a simple time tracking app can inspire employees to better understand how their work hours are spent. For these reasons, employers should at the bare minimum provide both a time clock and timesheet app that is accessible to all staff members.
Business communication is an increasingly popular field. The way that organizations communicate with their stakeholders, clients, and their own team members makes a significant impact on bottom line profitability and overall business success.
The best time tracking apps assist with business communication, providing one place for time related interactions that both remote work and job site employees can access. The reports that tracking software can generate are valuable for sharing status updates with clients, stakeholders, and other team members on staff.
An easy use tracking solution that displays billable hours and hourly rates can additionally boost communication and trust between clients and a company.
Ironically, employee productivity can be negatively impacted if the incorrect time tracking solution is put into place. For example, when a team member has to start timer features on a desktop or perform time entry onto employee timesheets manually.
Alternatively, the best employee time tracking apps will automate these administrative tasks. As a result, employees can stay focused throughout their work hours and spend time on their most demanding tasks.
4. Cost Estimates
Some clients prefer to pay for hourly rates while others prefer a complete project cost estimate. A tracking solution is a great way for a business to calculate total project costs or billable hours estimates.
The ability to accurately estimate both billable hours and total project costs is especially helpful when setting rates for discounted customers or more long term projects.
5. Track Hours
A common blunder that occurs during time management and time tracking initiatives is the failure to track employee work hours that are not billable. The best time tracking software will keep track of these often unaccounted for work hours.
Examples of non billable work hours that commonly fly under the employee time tracking radar range from task management to traveling. Business owners should make sure that automatic time tracking tools are compatible with preexisting digital tools in order to maximize the accuracy of time tracking data collected.
6. Bottom Line Profitability
One significant benefit of automatic time tracking is the ability for business owners to instantly view in one place both billable hours and non billable hours. As a result, employee time tracking apps can help small businesses and large corporations alike prioritize tasks and increase their bottom line profitability.
The ability to keep track of team members in real time avoids employees spending too much time on nonprofitable tasks. If a team member is not utilizing work time most effectively, management can quickly step in and address the situation.
It is impossible to sustain a healthy employee workload without understanding capacity. Furthermore, a lack of understanding surrounding capacity makes it impossible to guage business sustainability long term.
A time tracking app allows management to gain a comprehensive understanding of capacity.
8. Project Management
Time tracking is incredibly helpful for project management capabilities. When employers can keep track of project time accurately, it is much easier to perform a range of project management functions.
Some team members chose to start timer clocks separately in order to record project time individually and then add up totals. However, the best time tracking apps will calculate the total project time effortlessly.
9. Client Value Assessment
The best time tracking apps supply businesses with a report regarding clients and individual projects. With this information, businesses can make more informed decisions about which clients they want to work most with.
Especially when a business is nearing capacity, understanding which clients provide the most value is helpful.
10. Billing Accuracy
Sending a client an invoice with inaccurate billable hours is one way to significantly damage trust. In some instances, incorrect billable hours or hourly rates can lead to losing a client permanently.
An automatic time tracking app avoids a business unintentionally over or under billing clients. As a result, businesses retain their reputation, and clients have a better experience overall.
If an employer is unsure what mobile time app or tracking software is best for their specific company they can request a multiple day trial directly from the software company. With so many free time tracker app trials available, there is no reason to not start tracking employee work hours today.
The ability to accurately track work performed by employees helps a business with a wide range of functions.
Benefits of tracking time properly range from increased employee productivity to optimized customer billing.