by Mark Thomasson | World Executives Digest |
When you hear the saying that ‘Time is Money’, most of us agree how true this statement is.Time is a valuable and limited resource especially in business. So, business owners and their employees should try to be as much productive as their restricted working hours allow them.
“Time is more valuable than money. You can get more money, but you cannot get more time.” – Jim Rohn
The rise of technology has certainly increased work productivity in your office. However, in the era of computers and IT technologies, you need to look for more efficient ways to boost productivity and give your business a competitive edge.
For some activities, tracking time is the only way of measuring and improving return on investment. Recording what you‘re doing with your time can be more than enlightening! Once you‘ve identified the areas that are burning your time, you can work on ways to eliminate and ultimately reduce the waste.
In the following post, I’ll try to offer a selection of aspects how time tracking can effectively increase your productivity levels at work.
Don‘t waste time on irrelevant and unnecessary things!
If you are a good and devoted worker, you undoubtedly want to maximize productivity and personal success at work. However, we often unconsciously waste time on tasks which are lower on our priority list.
Time tracking will save your time on each of your work tasks, according to start and stop option, or recording the total time spent per task.
Owners of small businesses and employees can benefit from such knowledge in the long run. By evaluating how much time is spent on certain tasks, and then prioritizing them according to your current work needs, you can eliminate everything irrelevant and focus on things that matter.
This usually results in increased productivity levels in your business. It can even help productivity on a personal level if you have the habit wasting time on social media websites.
Efficient way to invoice clients
Time tracking software is an effective and accurate way to invoice your clients. Instead of manually estimating how much time each client costs your company, you can use a time tracking tool for this calculation. This can significantly reduce unnecessary negotiations in estimating the total cost of a project.
Your company can also evaluate how much extra time the client might cost. You can minimize costs and provide accurate reports to your clients showing them what they are invoiced for. This is definitely a more productive manner that will save your business both time and money.
Keep track of time that your employees spend on assignments
Time tracking apps can help business owners understand how much effort employees put into certain type of work. It can contribute to recording how many active hours your employees spend working on each assignment, track idle time spent by your staff on their computers, or even take screenshots.
By using time tracking apps like Toggl, you can easily monitor team work on different projects. For example, you can see which team member is putting more effort and which one is shirking. This way, industrious team members will stand out from the rest, and you can save costs on people with lower levels of productivity and work motivation.
The time of the good team members should be set as standard, so that the average and new employees would need to measure up to. It’s a good idea to determine standard time, so everybody in the team would be efficient at work.
This method is also ideal for assigning work to contractors, especially those who are charged by the hour.
Save time on administrative tasks
Time tracking software includes features like time sheets. They can considerably save time spent on manual keeping administration records. Forget about the manual work and automatically track the hours plugged in by employees and the hours that need to be billed for business clients.
Keep track of current work projects, and make efficient and proactive decisions with all the recorded information neatly filed into the database. Using simple invoice creator and sending your invoices quickly will significantly help with receiving payments.
Time spent maintaining manual records or data entryis considerably reduced, so you can spend the same resources on more important areas of your business.
Every business makes a mistake at some point. Sometimes it happens that a campaign goes wrong or a miscommunication occurs, but time tracking tool is there to detect precisely where the problem took place. This app can help cure some past mistakes in order not to reappear in future.
Increase sales and retain clients
Time tracking applications, as an accurate and transparent way to bill your business clients, can give them access to the projects they are involved in, so they can be sure they are properly billed.
Keep your clients satisfied and they will do business with your company again and again.
There is no doubt that you must find the right time tracking tool in order to make both you and your company even more successful. Why not take a headache out of time by trying an online time tracker application that works for your business?
Set goals that make a real difference to your company! Do everything you can! Help your team to go better, and shine in the eyes of the people you report to. It doesn‘t matter whether you are in a large corporation or a small business, a time tracking tool will certainly help you cement your good reputation. Finally, keep a track of your time to help you reach your personal goals in productivity and efficiency – check out why time tracker tools are one of the best available to make your business flourish!
AuthorBio: Mark is a biz-dev hero at Invoicebus – a simple invoicing service that gets your invoices paid faster. He passionately blogs on topics that help small biz owners succeed in their business. He is also a lifelong learner who practices mindfulness and enjoys long walks in nature more than anything else.