Organizations have realized the importance of time tracking and have started measuring the work hours, time spent by an individual on a particular task, pending tasks, cost to the company for an individual etc. This is where free time clock software comes into picture.
Time Tracking helps in:
- Better Management: Every business/department has different deliverables on a weekly, monthly, quarterly basis. In order to deliver at those deadlines, it is important for a manager to know the resources available and the time required to complete the task. Hence, the time tracking of each individual helps a manager to get a picture if the project can be delivered on time or not. Also it will help to know each individual’s capacity, his working hours, his break time from work and the tasks on his list. This allows the manager to switch between projects and tasks depending on the situation. With the above point, the manager will be able to track the present, report the past and estimate the future of a project with free time clock software.
- Billing: With a clear report, resources can be utilized to their fullest capacity. Manager can calculate the things missed to be done right in first time and the rework time on it. This would help in differentiating the billable/non billable hours they are working.
- Getting deliverables in time: Scheduling everyday tasks and deliverables of an employee increases his productivity. And tracking time during this period will help the manager to help the employee to complete the task thus improving the time taken to complete the task.The manager will not fail to estimate the duration that an individual took to complete the task.
- By scheduling different tasks to different employees we can also understand what type of business practices lead to more wastage of time.
- Avoid buddy punching: Many at times, it has been observed that friends punch the work hours for others in case they are late to work or on leave. Time tracking prevent friends from punching for others and helps in logging time lost due to break, meetings etc.With this, the actual work hours can be calculated exactly.
- Payroll: By recording time accurately, employee work hours and attendance can be tracked accurately. This will help in streamlining the payroll loss and spend less time in payroll for both employee and employer. This ensures that HR can calculate salaries with much efficiency for their regular work and over time as well.An employee who is working overtime to deliver the project on time would be satisfied if his time has been paid for. With time tracking the employee and the HR can get a clear picture of the work done and satisfactory pay to the employee. With this the employee will be confident that his over time is been noticed and will be rewarded.
- Right billing to Client: Time tracking helps in business where billing to the client is done based on the hours invested rather than per project. This will help in billing correctly.