Have you also been thinking of implementing a timesheet system in your company? Or have you already installed one?
Well, every employer or manager wants their employees to work really hard to grab that success towards the company. For which employers implement various strategies to level up their employee’s productivity and working style. But as the company grows, it really becomes difficult to keep track of what every employee is doing and on which task or project they are spending most of their time.
So, to be in a loop with their employees working activities and to manage everything efficiently, a timesheet system is super necessary. Talking about the current scenario, when every employee is working from home, it has become a challenging task for the employers, HRs, and managers to know which of the individuals are working sincerely and the ones who are just wasting their time after sending the log-in mail!
But most of the smart companies have already implemented timesheet software, and even the employees have become used to it. Still, some face issues or they have some confusion in mind whether they should invest in such software or not. Not to worry, as here we are going to clear all the doubts. Basically, we will be listing down the top reasons for using timesheet management software. So, without making the intro more lengthy, let's jump into the article.
Reasons To Implement A Timesheet Software
1. Bill Your Clients
One of the crucial reasons for a business to track what its workers spend their time on is only to bill its customers! Service companies, consultancy firms, or, more generally, companies that bill time and materials, all of which need to track their time precisely to know what to bill to what customer.
2. Track The Cost Of The Project
The time spent by the employees on various activities has a simple cost, similar to their hourly wages and expenses. The cost of the project will include factors such as the money spent importing (raw) products, everything that you purchased from your vendors, but also your internal costs.
3. Helps You Make Better Time Estimates For Your Next Project
You'll be able to make more accurate predictions when you get used to tracking the time. Along with that, you will be able to estimate more accurately what time the next projects of the same sort will take by looking at the real-time the employees have spent on projects of a certain kind.
4. Better Management Of Staff
Using the timesheet management software will allow you to determine how your workers spend their time and how much of it is profitable for the company more efficiently and reliably. Basically, it will help the employers lessen up their worries on how to keep track of employee hours. You can measure the rate of employee management (a result of hours spent on billable work and non-billable work) and how this affects the delivery of your service.
5. Improves Productivity And Motivates Employees
Time monitoring has a profound influence on the overall company's efficiency. It keeps well-performing workers assured that they will get noticed and duly rewarded for their work. It also keeps slowpokes in check or brings issues to spot-light immediately! Any team member, dealing with a specific mission, for instance.
Top 03 Timesheet Management Software You Can Trust Anytime
1. EmpMonitor
Whether it's about tracking the productivity or managing the remote employees perfectly, EmpMonitor has made it way better and more manageable for companies to do it evenly. Well, this excellent productivity tracking software comes with some really very interesting and useful features that have helped a lot of companies to conduct a smooth workflow during this pandemic.
2. Time Doctor
Time Doctor is one of that time tracking software that allows you to know whether your team is actually productive or not. It is a web-based solution that offers time tracking, monitoring of computer work sessions, notifications, capturing screenshots, invoicing, reporting tools, integrations, and much more.
3. DeskTime
It is a fully automatic time management software that has been shown to improve employee efficiency in the first weeks of its use by 30 per cent. See how you and your staff spend their time online and offline, track project time, and measure their costs automatically based on the hourly rates of employees. Also, create custom reports for in-house use or for your clients, schedule staff shifts, holidays, and time off, measure overtime pay, & store the contact details of your team member in one location.
Conclusion
If you're all set to use the best timesheet management software, then make sure to be transparent with your employees, and make them aware of the benefits of using it too. Hopefully, this article can help employees, employers, HRs, and managers to completely understand why time tracking or implementing timesheet software is crucial.