5 Reasons Why Companies Should Use Time Tracking Software

At first glance, the idea of having every minute of your day tracked at work may sound incredibly invasive. Maybe even unfair. But information is a neutral element. And that’s all time tracking does; it gives more information about your work to your employer. If your boss is unreasonable, they’ll be a problem whether or not they track every minute of your time.

For reasonable and wise managers, however, time tracking can offer a wide array of advantages. If you own a company or work at a managerial position, here’s why you should consider implementing a time tracking solution for your team.

1 – Keep an eye on overall performance

Time tracking software gives you the tools needed to know when an employee is working better or worse than usual. It’s called “time tracking”, but most enterprise solutions also offer auxiliary information, such as the number of actions per minute the user is executing on the computer, and what software they have been using.

With all that information at hand, you can spot who’s doing well and who is struggling. This is information you can use to optimize your company’s workflow. For example, you may find out that one of your employees struggles to handle spreadsheets, and assign those types of tasks to someone who’s more adept at that type of work.

2 – Find out the real cost

Most workers get paid by the hour. That means that understanding how many hours your company takes to perform a certain task is key to figuring out your expenses. That, in turn, affects how your prices goods and services for your customers.

With proper time tracking, you may spot hidden costs in your company’s workflow that you failed to consider. Such as the cost of the time your team spends making changes whenever a customer changes the guidelines of a project.

3 – Spot areas that could be optimized

Depending on the line of work you are in, the use of time tracking software can help you spot areas of your company’s workflow that could use optimization. For example, you may find out that your average employee wastes 10 hours a month just downloading large files from the company’s cloud server. That time sink can be reduced or eliminated by either hiring a faster internet provider or moving those files to an in-house server.

4 – Track billable hours

One of the best uses of time tracking software is also the most straightforward. It allows you to track how many hours of work your employees are putting in every week so that they can be compensated properly. It also helps you keep track of who is working overtime.

This information is usually kept in the cloud, although this may not be the case depending on the tracking solution you use. The information is also easy to share and review, which can help your company keep track of its employee expenses.

5 – Give employees more flexibility

A robust time tracking solution makes it easier for you to decentralize your workforce. You can let your workers clock in their hours from home, or from other locations, secure in the knowledge that they are getting just as much work done from home as they would in the office. All thanks to your employee time tracking solution.