Benefits of Time Tracking for Small Business

2015-11-20T15:26:30+00:00

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Running a small business is a tough job. Often there is just one person running everything. Keeping a check on all expenditure can be a nightmare. One of the biggest costs to many businesses is the wage bill.  To a small business controlling that wage cost can be the difference between making a profit and going under.

The art of choosing

Too many staff and they cease to be productive. On the other hand, too few stuff will leave you behind competition, since you won’t have resources needed to improve. Using temporary  staff from temp agencies can be a solution but often the staff from these agencies  are the people who can’t get jobs elsewhere. A better strategy is to hire freelancers though they can come with a whole new set of issues.

Hiring someone who won’t be sitting in your office can bring the small business problems in checking and managing what the remote worker is doing.  Are they billing the business for hours that were actually spent on other jobs or, even worse, on Facebook?

Implementing time tracking software

time tracker software

There is a solution though.  Several companies have produced time tracking for small business  that can track what your remote workers do during the time that you are paying them for.

Time tracking software not only registers the time that your remote workers are billing you for, but it will also take screenshots of their screen at random time intervals.

Naturally, if a worker deletes a high number of screenshots, it is likely they are not always doing what they are being paid for.

What can time tracking software do for Small Businesses?

The small business owner can track time worked by all their remote workers from just one web based software.  This can help them monitor and keep more control of the hours spent on each project. This can really help in planning future projects of a similar nature. The number of hours allocated to the jobs can be amended up or down for future tasks.

Checking the screenshots of several remote workers can be a little time consuming.  However the software allows different monitoring settings to be applied to each remote worker.

This team time tracking software can also make remote management of your business time. Once projects are completed, workers would have to enter their project status.

You can immediately be informed about the status of projects, by logging into the software even from a remote area.

You can check the status of different projects – especially those with a shorter deadline, and understand whether or not they are progressing well. You can also get an idea whether a specific employee is taking his job too lightly.

Tracking cash flow

The software can also automatically import your bank statements and also divide them properly into specific categories. It can check the flow of your business money and provide you with real-time updates about how your business capital is being spent. You can also share all the details with the accounting team and work together to minimize wastage of money.

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