Keeping track of the time that is used in your business is an important part of making sure your projects are profitable. In fact, forgotten and lost timesheets can cost businesses more than $40,000 a year.
Tracking what your team is doing when they’re doing it means you can keep an up-to-date view of your business. It helps you and your team stop issues like scope creep much earlier than if you only submitted timesheets at the end of the day.
It also helps you keep accurate records because your reporting as your doing. If your staff are expected to report what they were up to at the end of the day, or the end of the week then the information will be a lot more guessed than if it’s reported in real-time.
Because real-time tracking can often happen passively or with little admin, it is also less likely to be put off to last and then rushed.
One of the best ways that you can collect your staff’s time is by getting them to clock in and out. It’s flexible with the amount of information you want to collect and doesn’t rely on your staff remembering when they started (just remembering to punch in/out).
It works if you want your team to report on the days and hours they worked, or want to know how long they spend on every project, or even on every task. The admin time is very low, especially if you rely on tech. Tech solutions always help out the admin team by providing consistent, easy to read data.
Last but not least, giving your team the ability to check over their own timesheets can be a huge timesaver. If your team can take a look at their own time spent on projects o submitted to payroll at the end of the day it gives them the opportunity to self-correct any errors or issues. It can save a lot of time and headaches for your admin team.
By being able to track and see their own time against projects, you give your team the tools to self manage and control project profitability. If you have a growing team then it can mean that you have the opportunity to step back from managing every aspect of your businesses projects.