Author Bio: Jasika Adams is a writer with a passion for writing on emerging technologies in the areas of human resources, startups and business management. she is a talent acquisition manager currently associated with Index Time Clock. In her free time, she loves to play with her kids and reading mystery books.
This is the era of sophistication. There are new solutions and innovation all around. But this also means a newer set of problems. If you are running a start-up, you are likely to be worried about things like cash or equipment being stolen. But do you know that you could be robbed of time as well? Sounds strange, but it is true. And this is where time tracking comes into the picture. Surveys have found that a staggering number of employees exaggerate their work hours. And even though it isn’t stealing per se, but it costs your business money. So what is a time tracking software?
Time tracking is simply the measurement and recording of hours worked. With technology, businesses can also track supplementary data such as efficiency and employee productivity. From project management methods and accounting systems to our collaboration and communication processes, time tracking can allow businesses and employees to be productive at extraordinary levels.
Employing a time tracking app may meet employee resistance especially if the company has been slack with employee hours. This is a workplace problem, but it will result in low user adoption of the app. Likewise, if the app is difficult to use, for example, it requires a lot of clicks to perform one function, managers and staff alike may not swiftly adapt to the system.
But in the long run, your business can expand on its gross profits by recognizing and solving your cash leaks. Implementing a time tracking tool isn’t the only method, but it’s a quick, cost-effective, and relatively simple one.
Let us chalk out some ways in which time tracking software can be helpful in the growth of a start-up –
It helps in increasing productivity
Time tracking software aids you in improving the work capacity of your team. It, in fact, helps in increasing the productivity of each member. Deadlines are clearly stated and scrutinized. This establishes accountability for everyone and ensures that everyone is on the same page. Any lost time can be easily spotted and addressed. This is especially important in the case of a start-up. As we are all aware that setting up, and working a start-up business, can be quite tough. You would need to look after of a lot of things, whether it comes to your employees, the projects, company time and resources, money or productivity. Thus, having a time tracking software in place takes care of the productivity aspect and lessens the burden off your shoulders.
Easing the timekeeping process
When running a start-up, chances are, you have various other significant things to do aside from recording billable hours. So whilst you manage your business, the time tracking software takes care of the repetitive task of time capture and wage calculation or invoicing and even ensures the accuracy and transparency of data far better than manual entries. Once you have set the rules, the whole time capture to billing or payroll process is automated. And this is why you should choose an app that is easy to use.
If your chosen app helps run projects with a single click, it will be all the better for you. Try to get an app that stores data on its own dedicated server, as well as on the cloud. The billing process should easily be automated with time-tracking information gathered by the project time tracking software.
The key is to automate the entire process with less or no emphasis on manual work.
Aids in workplace transparency. When billable hours are tracked and recorded with precision, clashes are evaded. You can use the data not only to calculate dues but also to assess staff performance using data-driven metrics.
Make sure that the application helps track clients, customers, and accounts
Many time trackers also double as payroll apps which can transfer information about attendance tracking and time straightaway to your HR management and critical payroll systems. It should help you to get rid of punch cards and maintain employee time sheets online. Thus, it helps promote transparency in the workplace and also reduces your burden.
Helps honor deadlines and avoid procrastination
With clear visibility of tasks down to the details, it is easier to evaluate completion dates, insert a few delay cases, and voila! You have a nearly accurate time estimation. Any unfulfilled daily task can quickly be cost in to adjust weekly and monthly deadline targets.
You can also look for an app that functions like a work tracking software. Your app should help you to track documents and applications. It must function silently in the background and do its job without meddling with daily functions. Make sure that it helps bill employee time, analyse the time, takes note of their tasks and offers real-time updates to you – no matter where you are.
It might be a good idea to look for something that offers mobile compatibility. Look for something that is compatible with mobile phones, and can even be copied into and run from USB flash drives.
The software should sync all important information across wide-ranging devices like mobile phones and desktops. Some apps can also be started without installation, and the entire process can be completed effortlessly. However, make sure that the app can silently run in the background and start automatically in the backdrop as soon as the system starts.
Empowering employees through better working
A highly responsible workforce puts managers at ease and in control of targets. This results in trust between managers and staff and, eventually, can lead to employees being given more leeway on how to meet their deliverables.
One essential point for a start-up while choosing its time tracking software is the cost. You must look for something that is free. Because the last thing that you would want is to spend on a costly time tracking software or online service. If you are a start-up with only a small team, a freeware would be enough to help you in project management, billing, managing employee time, replacing manual clock-in and clock—out sheets, generating reports etc.
Also, look for something that can work offline as well. Internet connection might be an issue at some point. Apps with offline ability give you room to adjust to internet outages. Once you are back online, the data is synced and updated so you don’t miss anything out.