For businesses across all spectrums of size and scope, time is money. That may seem a glib comment these days until you look at businesses which literally bill their time by the hour and need to bank on this for prosperity and profit. So for those out there living hour to hour it is crucial to accurately track their billable hours! Accounting firms, law firms and consultancy firms etc. all live off time tracking software, they frankly love it, and here’s five reasons you’ll love it too:
1) Keep on top of your payroll
Using time tracking software helps minimise potential errors during payroll and avoid the ever-pleasant paycheck dispute. Such software gives employees the responsibility of logging their own hours and allows you to see this through employee reporting. Penciling in hours on a timesheet, employees can often over or underestimate spent on a task however using time tracking software allows you to only pay for the actual time worked.
2) Save time on admin tasks
In 2015 a study by Service Now, showed managers spent an average of 2 full work days each week on administration tasks – an average of 15 hours a week! The software helps reduce manual data-entry and removes boring timesheet entries, saving you hours each week. Time tracking software enables employees to track their time and submit entries on any device. This allows employees and managers to do their job fully & save hours on tedious admin tasks.
3) Know your business inside & out
Do you want to know your business even better than you already do? Time tracking software gives you in-depth reporting and insights that will help you improve your business in more ways than one. Simply run a report and you will have more insight than you may have thought possible . From client’s profit, employees over time, and what tasks are taking up the most hours. You can save & run reports automatically. Some solutions allow you to save historical data, allowing you to review at any time- beneficial for future tasks or to just refresh your mind.
4) Keep track of your workforce
It’s often hard to keep track of everyone in your team and what they are doing. time tracking software brings the team together. It allows you to assign roles to employees and to control who can see certain information. Some solutions feature dashboards you can send your team a message, remind them to keep tracking their hours or assign a task.
5) Makes friends with your current software
The time tracking software can integrate with a few leading names in the accounting, expenses and payroll industry, such as Reckon One and a few of the latest ground-breaking web apps such as Amazon Alexa. The software makes life easier for you by syncing with your present software.
Time tracking software assists you in managing billable hours and keeping tracking of your team – reducing your time & saving you money. Give a time tracking solution such as Time Tracker by eBillity a go today & see why everyone is making a fuss about it.
Time tracker by eBillity is a recommended add-on for Reckon Account Hosted & Desktop – view more details here