(Newswire.net — August 1, 2019) — Managers and employees widely use time tracking software to record work hours for payroll, billing or operations. These tools capture the time spent on assigned tasks and are used to automate client invoicing and to create an error free payroll system. They also allow users to plan project budgets by providing insights on operations such as which tasks are taking a lot of your staff’s time. So why use time tracking software? Here are some of the benefits of time tracking software.
Why Use Time Tracking Software?
So, why use time tracking software? Time tracking software has grown in popularity due to its benefits such as increased productivity, the ability to effortlessly capture time, promotes workplace transparency and more.
Increased Productivity
Time tracking software enables you to optimize the work capacity of your workforce while improving employee attendance through this method as well. You’re able to put everyone on the same page because deadlines are clear and monitored. That means you can easily spot and address wasted time.
Effortless Time Capture
You can spend your precious time on more critical tasks than recording billable hours. Time tracking software applications are designed to handle the task of time capture and calculation of wages or invoicing. Once you set the rules and parameters, the whole time capture to billing to processing of payroll is automated.
Promote Workplace Transparency
Tracking and recording billable hours with accuracy helps to avoid any disputes among members of staff. Data derived from time tracking software can be used for more than just calculating dues. You can also use the data to evaluate the performance of your employees using data-driven metrics.
Improve the Accuracy Of Your Deadlines
When there’s clear visibility of tasks down to the details, you have an easy time estimating completion dates. Simply insert a few delay cases and you’ll have an accurate time estimation. If you have any unfulfilled tasks, you can quickly cost them in and adjust your deadline targets.
Empower Employees
A more accountable workforce puts managers more in control of targets and at ease. The result of this is the growth of trust between staff and management, leading to a scenario where employees can be given more leeway to meet their deliverables which will then also increase their attendance rate.
Avoid Micromanaging
Some time management software applications allow managers to see what their employees are up to at any given moment and track their task progress. This helps you save time as you won’t have to keep physically checking on employees or requiring them to send a mandatory work report. Spending less time on micromanaging creates more time for strategic planning.
Manage Your Pricing More Effectively
When the time comes to reconsider your pricing, analytics from your time tracking software might come in quite handy. You can calculate the average time taken to complete a task. Then by deducting the salary of your staff for that period as well as other expenses you’re able to determine whether its time to change your rates.
Integration
Most time tracking software tools can easily be integrated with business or project management or payroll software using to achieve maximum convenience.
Bottom Line
If you’re running a business and still wondering why use time tracking software, then the benefits mentioned should make it easier to evaluate whether investing in a time tracking software would be beneficial for you.