How to use a time tracker effectively and save time and money

27 Jan How to use a time tracker effectively and save time and money

If you do not use a time tracker in your business, chances are that you are loosing money and time because you do not have insights into where your employees are contributing. You also will not have insights as to which projects are consuming more time vs less.

These issues can be easily resolved by using a simple time tracking software. There are tons of benefits by doing so. Here are a few that we have heard directly from our customers. By using a time tracking app, you are making it more easily accessable for all your employees.

Accountability

When all employees start to log their hours into a time tracker with simple time emtries., they are all accountable for the hours spent at work. Believe it or not, getting 8 hours of productive work in the office is nearly impossible. We think that your average productive work duration would be around 5 hours. With this data you can then see how much of those hours are billable or not. This kind of analysis can help along the way and ensure you bill your customers correctly.

Project Cost Tracking

When you and your team use a task and project project tracker, you know exactly where your time is being spent. Wiht our appYou will also be able to see which job codes are used the most. This data can help you in planning your projects better.

Billable vs Non Billable Hours

Billable hours is what drives your business. This is the revenue that flows into your organisation and keeps everything smooth sailing. On the other hand, non-billable hours are your expenses. Maintaining a good ratio of billable to non-billable is very important. This ratio can vary from industry to industry. You should always look for innovative ways to reduce your non-billable hours and increase your billable hours. When you measure this, there is always room to optimise it.

Manual vs Automatic Tracking

You have options to add both manual time as well as automatic time. This will help you and your teams to fill time sheets as they complete them or enter the time sheets at the end of the week. As always it’s preferable to add the time tracking hours automatically as they happen.

Reporting

You can run some really powerful reporting for analysis on all your projects. Group by projects and you can have a project-wise report. Group by billing and months to know which months have got you the most revenue. Save these segments and you can run these reports in a few clicks.