Why is a time tracker important in business?

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a time tracker

Are you curious to know where your time is spent and to know the effectiveness of your actions? Then, the Apploye Time tracker is for you!

Never tracked your work times before? So you’ll be surprised to learn that time is considered a company’s most valuable asset: lifeblood.

Why? Well, time is involved in the most critical areas of your business. It helps you get paid if you sell your hours. It tells you if the project is on track (on time, on budget, etc.) or if your team is working at a good pace. That’s why whether you’re a manager or a team member, it’s important to know where your time is going.

Time trackers may seem intrusive to some people, and they balk at the idea of using one. But a time tracker is not a coping tool. Instead, the Apploye Time tracker makes life easier for employees while increasing productivity and profits. If you’re skeptical, here are five reasons why a time tracker can be more than beneficial for your business.

Billing your customers

Are you a consulting firm, a web agency, a startup, a design office, or an architect’s office? Do you sell your services and therefore invoice your clients by the hour or day? Time tracking is essential. Otherwise, how would you know how many hours were spent charging your customers?

Indeed, in this case, it is important to follow your time. No need to take the risk of underestimating the time it will take you to complete a project and sell an unattainable number of hours to your clients.

By setting up time tracking in your company, you will have a more precise idea of how long each project takes, which will allow you to prepare quotes or proposals and define deadlines for new customers and potential customers with more confidence.

Ensure project profitability

Even if you don’t charge by the hour, tracking is still valid. Each project is made up of a certain number of hours, and each hour represents a cost based on the amount you pay your employees. So to keep your business on track, you need to make sure that the total price you charge your customers is more than the cost of completing this project. And the only way to determine your expenses is to identify the number of hours spent on the project. This is where the Apploye time tracker comes in!

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Say you run a business that sells services at a fixed price of $15,000. You don’t need to track your times because you already know how much you will charge your client. However, it may be interesting to know how much effort your team members put into completing this project. For example, suppose you pay your employees $20 per hour. If it takes them a total of 400 hours to complete the project, great. You have earned money! But if they’re having trouble and it’s taking them 800 hours, you’ve wasted money on that project.

Without a time tracker, companies cannot realize that some of their projects are not profitable, which is a shame because if they opted for this tool, they could have good surprises and find out if they are on the right track.

Make more accurate estimates.

Admit it. No client likes being promised the moon and unable to meet the deadlines set with them. To ensure customers are satisfied, it’s essential to set realistic expectations from the start.

When you have an idea of ​​the approximate time a project will take, you can better plan your team’s time. So what can it bring you? Well, a more precise schedule will ensure that you only accept work that your team can handle.

Better manage your team

As you will have understood, time tracking makes it possible to manage teamwork better. Thanks to time tracking, you will see if members, or even the entire team, are overworked. If so, you will reorganize their tasks before they no longer know where to turn.

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Businesses have a difficult time getting employees to accept time tracking. Educate your team on the benefits of time tracking, such as balancing workloads, managing proactive, and keeping them focused on what’s most important. Who doesn’t dream of a happy and motivated team? Apploye believes that well-being at work is not only a necessity, but it is also the best guarantee of being more productive.

Improve the way you work

Many people are often surprised at what their timesheets reveal about their work habits and team members. This data can sometimes be surprising! Many discover massive inefficiencies. This is where we realize that time tracking is useful. Indeed, being faced with the harsh reality of these hours of work on a screen can help the different team members improve the way they work. When individuals see their time spent, they realize that they are spending too much time on one task, while they are not spending enough time on another. This gives them an overview of their work, allowing them to better organize their day.

Keep in mind that small individual improvements can have a big impact on overall team effectiveness.

👉 Isn’t time tracking magic? This tool allows companies to make smarter decisions on defining their customer billings and project management. Thanks to Apploye’s time tracker, it will be easier to know how to organize the teams’ days and work.

The only black point that can keep a company from adopting time tracking software is the fear that the team will not see a good eye on this newcomer. It’s a normal reaction. But introduce their Apploye ! We are sure they will change their minds. Who wouldn’t like to collect their working time through a friendly assistant who chats with you every day?

 

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