Why is Time Tracking Important?

Time tracking is considered one of the most vital aspects of maintaining organisational productivity, functionality, and employee workflow. Tracking time can allow your organisation to better track and analyse the time of employees and managers.

Efficiently tracking workplace time can lead to a multitude of different benefits such as increased profitability, reduced employee absenteeism and improving overall client relationships and satisfaction.

Studies have shown that nearly 90% of employees admit to squandering workday hours on non-organisational tasks. Therefore, time tracking tools and software can enable your business’s employees to hold themselves more accountable during their work hours.

Benefits of time tracking

1) Profitability

Every business project should have a certain number of hours allotted for its completion, where each hour represents a certain associated cost per employee working on the project.

Therefore, by tracking time and ensuring that no hours are wasted, businesses can save on extra costs and increase their overall profitability per project, which will lead to higher revenue in the long run. Tracking time can also help organisations detect and cease activity on unprofitable projects, which will prevent unnecessary organisational expenditure.

2) Transparency

Time tracking can help maintain a certain level of transparency for both employees and clients. By consistently clocking in the number of hours being worked on a project, employees can manage and customize their workload more effectively. This also benefits clients, as they can be provided with a more accurate estimate of how much time, and by association, financial resources a project requires.

By providing more accurate estimate times, you will be able to further improve your client relationships and trust. Furthermore, having a pre-decided schedule according to which projects must be completed can help hold your entire organisation accountable for work hours spent.

3) Progress Communication

As employees track their time on a consistent basis, both managers and clients will be able to communicate more efficiently about whether or not business processes or project tasks are expected to be completed as per the pre-decided timeline or not.

Having clear communication can help prevent and mitigate confusion amongst employees, which helps further improve productivity. Moreover, studies have shown that US employers stated that approximately 80% of timesheets contain significant inaccuracies or errors that must be corrected.

4) Budget Tracking

Adhering to previously specified budgetary restrictions is one of the most critical aspects of effectively managing an organisation or particular project. However, tracking budget expenses and deviations can be extremely time-consuming and tedious.

Time tracking can help businesses more efficiently and accurately track where their human resources are being distributed so that organisational tasks can be reallocated if necessary.

Crust’s CRM Solution to Boost the Productivity of Your Business

Crust’s low-code, open-source CRM suite is equipped with various user dashboards and graphic and visualisation tools that can make time tracking much easier than ever before. Crust’s API-centric interface is the perfect employee management solution to assist your business. Try a demo to see how you can more accurately and efficiently track your employee’s time.

 

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