Time tracking is something every individual has done at least once in their lifetime. Whether it would be a personal or a group project, small business or large enterprise it's done always to a different extent and in a different way that fits particular needs. Some companies require their staff to log every single minute, while others do the same reporting at the end of every single month, just to fill in the timesheet.
But why it's important for your business?
When running a business cost and profit is something that we look into at the end of a project, quarter, or even a year. And let's face it, it takes a lot to run it. Businesses pay for equipment, workplace maintenance, training, benefits, staff meals, and of course - salaries.
This is where time tracking comes in. Once you know how much it takes your business to operate per an employee, for example having an hourly rate, you can track employee hours, and at the end have a full salary report for an individual employee.
That's one less expense to worry about.
When we order something from Amazon, as customers we appreciate having an accurate delivery estimate. No surprise that this extends to all other business areas, whether it's sales, construction, car repairs all of our clients want their product or service on time.
While tracking the effort and time that we spent to deliver the product we gather valuable data that we can use to estimate our delivery to the clients with high accuracy. This is guaranteed to improve customer satisfaction and at the same time boost brand recognition.
None of us wants to be associated with words: "that company is always late".
Workload management is one of the critical tasks that impact your employees and your clients. If you are overwhelmed, or you are overwhelming your employees and having them do more than they can handle it impact delivery and your clients in the long run.
With proper time tracking, you can understand how busy your staff is and make sure the workload is distributed evenly. At the same time, this can help you to identify additional resources that would be able to take up additional work.
We all like to utilize our resources to the maximum while still keeping teams refreshed and ready to go.
At some point, all of us faced this one project where it seems nothing is going right, and it's never going to get better. We look at multiple data to improve the process, but sometimes we miss to properly identify bottlenecks and pain points.
Time tracking is one of the tools that can help you to identify these issues. Maybe we have a team member who is not able to keep up with expectations and is taking more time to complete the task, or maybe that task is just too large for one person to handle?
Those are just a couple of examples where time management can help and after this, we can proceed with required adjustments.
With changes in the market and economy, it's natural that we adjust prices for our goods and services. However, we also need to consider our marketing and pricing strategy, and we can see that one of the components is the time we spend on a project. If we have an accurate time tracking data in a long term we can start adjusting our prices while considering the following points:
Are we taking more time to complete a project than needed?
Can adjust our timelines and spend less, so we can offer a more competitive price? Or maybe we always end up with extra time that we could use to improve our quality?
At Softbrick we designed our platform with a goal to make time logging and management easy and smooth. With the help of modern design, simple UI, and focus on end-user experience, Softbrick offers you the best solutions for:
Are you ready to simplify time management?
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