Time tracking software is of course not will be great for employees as it keeps tabs on their activities and tasks but it is a necessary element for companies who charge their clients by hour. Invoicing based on accurate time spent on project and loose time spent make a lot of difference both to companies who are charging their clients and to their clients. Basically, for any company, there will be budget and financial tracking data which requires to maintain the organization’s survival. The below are the need to know the project budget elements.
- Is the team above or below the given project budget?
- Are we trying to hit the budget?
- What is the right amount to invoice the client?
- How profitable is the client or project?
How employee time tracking can in making the company a big success?
Not just one or two, but an employee time tracking can help a business in a lot of ways. Instead of making your managers keep their eye on your employees 24/7, you can just use a time tracking software by Chrometa just to see how productively they are using their time to complete the project in time. The below are the some of the excellent benefits that time tracking software offers for companies regardless of what type of industry or domain they are into in.
- An enhanced work management
Almost every business will have some or the other moving elements and various Complex activities which the companies management and the employees have to perform frequently. Whether it is daily weekly or even monthly. In situations like these, a time tracking software can help in making the task easier and the project management manageable to handle. This case especially applies when companies have a restricted number of staff members who will work on various projects and take various roles. For every month, your HR department has to track the time each employee spent on completing the assigned task is not an easy thing.
This is where the time tracking software comes into the picture. By tracking each and every employee’s time, the managers can just use the timesheets that they created to track the employees’ time and later can use to process the payroll. There are many such features in an efficient time tracking software that are very helpful in making sure that the employees receive the right amount of salary or the compensation for the work they have done.
2 . Makes your employees concentrate on their job
Rather than worrying about who comes when to their desk and ask about what your employees are doing, we can just concentrate on finishing the work as they will be tracking their on time. Your employees will have a good understanding on how much time they have to spend and there is absolutely no time to waste either on social media or anywhere else since they are being tracked every second. By estimating a tentative project completion date, your employees can let their superiors know about a specific project if it is not completed in time. This way both the managers and employees can work together.
- Better work process
With the help of time tracking software, you can have a better overview of what exactly is going one each project and assignment so that you can know what’s happening in your company. The software will attract each and every employee is time on every assignment and task they work and hence provided you better inside and a better understanding of each and every project and assignment. Once you unlike the outcome, it will be easy for you to plan your upcoming projects in a much optimised way. If required, managers can rearrange the responsibilities of the staff members if they think any particular task is taking much longer than the expected.
- Cut down unwanted expenses
Not just you, but every company wants to cut down the unwanted expenses so that they can run an efficient and successful business. It also helps to enhance the company’s bottom line and also overcome budgetary requirements. Once you understand the company is workflow, it will be easier to predict the things that are going to go wrong why not taking good decisions. Also, once you know the problems and the concerns, you can correct them with the needs to enhance the work productivity simultaneously cutting unnecessary and unwanted costs down.
- Precise billing process
Billing your clients in the right way is one of the more important elements behind running a successful business. This will will help you inaccuracy billing all your clients. It includes even if you bill your client based on the time you took to complete the project or the whole project, every kind of billing can be easily done by using this software. You might be thinking that manual process is not so different and difficult, but there is a chance to get the numbers wrong. And if there are any errors in the invoice, you will end up either losing money or the client. But the software will make sure that your client billing is done in the right way.
- Explain to your employees by the software is essential
Employees easily misunderstand when the management proposes of deploying a time tracking software and that is why it is important to explain them and make them understand that why it is important. Let them know that you trust them and for various other reasons you are deploying the software. If any case, your employees your feel that they are not be trusted then you may lose honest and loyal employees.
The advantage of the software is that not only companies but even freelancers can also utilise it just to show their clients how much time they are spending on the client project. It is a great way to earn the clients’ trust.