Look at any business, irrespective of its size, be it large or a small firm, you’ll find that the most difficult and time consuming task is ironically keeping track of employee time. When every second of every minute has real value, tracking the actual working hours by an employee can seriously impact your business. That is why in the present age of advanced technology, time-tracking software is a good investment because they can track all team activity. There are many examples of businesses having greatly benefited in terms of productivity and profits using this time-tracking device.
Main advantages of installing a Time Clock app:
Reduction in Costs
In order to successfully run a company, it goes without saying that serious efforts towards cutting the costs are looked upon as a means to help improve the bottom line and reduce budgetary needs. A time-tracking device comes in handy in such a scenario where problems are made visible and inefficiencies revealed, which in turn focuses attention towards slackness and hidden costs of unprofitable projects. This raises transparency as one is updated at all times as to what, where and when are things happening. Easier way to realize how easy it is to keep the money under control.
Increased level of focus
Given the situation where your employees are able to track how they spend their time, you’ll be able to see if they are on the correct path towards accomplishing their goals. You’ll know exactly how much time is being spent on each task and if at all they are running late in terms of completion. This helps tremendously in spotting inefficiencies, so you can make changes accordingly so as to better allocate yours as well as the employees’ time. Needless to say, tasks are prioritized well and there is a drastic increase in the ability to focus on the task at hand.
Adherence to Overtime Compliance
It is always a challenge to pinpoint as to how many hours has the employee worked? And is he/she really entitled to overtime pay? It is absolutely pivotal for organizations with non-exempt employees to track time. It ensures that all overtime hours are diligently recorded and payroll is properly distributed. If employees don’t accurately track overtime, it can lead to fines, lawsuits, and problems in the office.
Better predictions for task completion
A thorough collective data on actual time spent on each task allows you to greatly improve your ability to estimate tasks and projects and adjust work rates. This facilitates in creating and managing accurate predictions and internal benchmarks, which in turn ensures maximum profitability for any particular job.
Enhanced performance across various departments
Which are the most profitable departments and which are not? With the help of a Timesheet, you’ll be in a better position to compare performance across business units. This will certainly help you in evaluating the billing cost data that offers immediate insights into driving increased productivity.
Smooth handling of Client Billings
One of the most important benefits of time tracking has to be client billing. If you don’t register the time you actually spend on a job, you won’t be in a position to justify the amount that you will be billing – which translates into losing money. It is important that clients are properly billed and for the appropriate amount of time. With the help of time-tracking software you can bill clients for exactly what work has been done.
Clean state in terms of Audits
Data gathered from time-tracking software helps you to stay in compliance with government and industry regulations. It reduces costs of third-party audits and you can easily export and share reports and other financial data with funders, board members, and all external stakeholders.
All said and done, tracking done through a Time Clock App can be a way to boost your productivity and increase efficiencies. It provides accurate insight into business, brings forth the actual cost of any project, and reveals key operational metrics that otherwise would have remained hidden. Hence it makes very good sense to invest in a time-tracking app such as Clockineasy.com. Equipped with multiple features, it is practically the best time clock app/software that helps you to calculate quotes, run reports, and create invoices without worrying about having duplicate entries. It comes with the advanced GPS tracking, face recognition and a lot more interesting feature.
Helpful insights through Clockineasy:
Costings of certain Projects/Jobs –
Let’s you track job costing with detailed employee timesheet records that include a comprehensive data of to-the-minute time and GPS location stamps. This way you are in a better position to analyze and estimate labor costs across multiple sites via 1-click reports.
This feature helps in tracking project and job site attendance in real-time with the in-built live-map dashboard. Cloud-based timesheets with GPS location ensure employee time-tracking is more secure, accurate, and detailed than ever before.
It eliminates time theft and proxy punching with just a few clicks. Face recognition settings require employees to clock in and clock out with photo verification. There’s also a setting whereby you can apply this feature to all, some or none of your employees.
Instant Payroll Reports:
A great way to review and approve timesheets for any payroll period. The software lets you generate detailed payroll reports with just one click to PDF, CSV, or export directly to your payroll provider.
DCAA Compliant Audit Log:
You will never have to worry or prove to others regarding the document integrity. It records everything with cloud-based precision. Every employee timesheet comes equipped with a DCAA compliant audit log which tracks and records the source, date and time along with all the corresponding timesheet data and changes.
The Businesses that can greatly benefit from Clockineasy:
- Construction & Trades – Manage employee time across multiple job sites and projects
- Medical & Healthcare – Precision time-tracking that can be very crucial in terms of healthcare industry
- Hospitality & Retail – Track the multiple sites, stores, or work shifts
- Cleaning & Janitorial – GPS based timesheet records everything and ensures no one skips their respective duty
- Security & Logistics – Multiple shifts are easier to manage with location-based timesheets for secure in-person attendance
- Staffing Services – Manage different units of workforce with varying rates, schedules and project sites to estimate job costings