By adding more people to the mix, you can boost productivity levels without overworking your team. With this information, you can determine whether it's time to bring in more resources, which is ideal if your current talent pool is struggling to keep up with demand. For instance, knowing the total and average times they spend on projects. But it requires tracking the right metrics to understand your team's strengths and weaknesses. With project time tracking, you'll save money and potentially increase revenue. The US economy loses 50 million hours in productivity per day because of unrecorded work activities. This level of transparency also makes it easier to pinpoint ways to improve your processes and help your team work smarter. Allowing them to see the team's effort may encourage them to pull their own weight. For example, maybe one of your workers consistently falls behind. Because if you're not careful, you could become a part of the 74% of teams that are overbooked on projects every month.Īre bottlenecks a consistent issue with your team? By using time tracking apps, you can find areas in your workflow that need oiling. How about those popup projects or client scope creep? With your time tracker in hand, you can determine if it's time to say no. This gives you time to find and fill the gaps in advance. If there's a big project on the horizon that reveals talent gaps within your team, you'll see it early on. What about planning future resource allocation? Time tracking software can help with this as well. Not only will this reduce employee churn, but it will also prevent burnout among your top talent. If so, it's time to redistribute tasks so all team members are getting a fair share. Odds are, they're taking on the bulk of the workload. Manage resources and forecast capacityĭo you have an A-list worker you turn to frequently? If you're using a simple time tracker tool, you can easily see who your top performers are. The insights pulled from your time tracking tool will allow accurate budget forecasting, which is critical to prevent overspending.Ģ. This way, you're not undercutting your team (like charging clients for 20 hours when you really put in 40 hours). You can identify how much time each team member spends on tasks per work day, week, month, or quarter and then compare billable work hours with non-billable time to determine the profitability of projects.Ī project time tracking software also helps ensure you're pricing projects based on actual hours worked. Employee monitoring and automated timesheets can help prevent inaccuracies in billing and payments. One way to ensure this doesn't happen is to use a time tracking tool. If your team is overlogging hours, it eats away at profits. Here's a closer look at the top benefits of using time tracking apps. You can use this data to enhance project decision-making for your budget and resource allocation. Using time tracking software can uncover all sorts of intel about your projects and teams. Pre-filled timesheets based on your scheduled tasks means that your team can log their hours in a single click! Try for free Try for free Why use time tracking software? 6 time tracking benefits Track time with the #1 rated resource management softwareįloat makes time tracking a breeze. Now let's look at some of the benefits of time tracking tools. This is just one example of how you can use time tracking within your organization. So in the future, you allocate one week to prevent bottlenecks. It's helpful for understanding how long certain tasks take and make better judgment calls when planning future projects.įor example, maybe you think a certain design task should take three days to complete, but when reviewing the project, you learn employees spend an average of one week to complete this task. Time tracking is a process used by managers to track how long employees spend on a specific task or project. If you're not already using a time tracking system, you’ll learn how time tracking can improve your project management and save you time and money along the way. This way, you charge clients appropriately and pay workers for their actual hours worked. With effective time tracking software, you can ensure you're accurately calculating billable and non-billable hours for each project. Whether you’re a business owner or project manager, how often do you undercharge clients for a project? Or feel unsure whether you’re paying workers correctly? Time tracking is a pain for so many businesses and that often results in financial problems.
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