Time Tracking Tools – Benefits, Costs, and Top Options
Remote work is quickly gaining ground, so time tracking and project tracking tools have become an essential part of the system. Whether it’s running a business or freelancing, tracking billable hours and keeping tabs on time spent on projects allows for increased productivity and quick identification of bottlenecks. Time tracking tools offer a range of features that can help businesses and individuals manage their time efficiently and streamline project management.
Benefits of time tracking
- Finding choke points within the system
A smooth workflow will ensure that the team knows exactly what is always required of them. Using time tracking tools will allow one to plan projects so that work does not pile up, and at the same time, people and resources are not wasted waiting around for work to come in.
A time tracking tool will allow a manager to determine if project timelines aren’t syncing up efficiently or could be planned better based on the volume of work. Knowing staff needs
The productivity of each team member can be tracked with a time tracking tool and a manager can easily determine if the team needs more manpower to finish the jobs at hand on time. It can also help a team manager see who is being underutilized and quickly rectify the gap. Making billing a breeze
When it comes to bill payments, emails are generally used to track invoices. This process is time-consuming and can get quite exhaustive.
The productivity of each team member can be tracked with a time tracking tool and a manager can easily determine if the team needs more manpower to finish the jobs at hand on time. It can also help a team manager see who is being underutilized and quickly rectify the gap.
When it comes to bill payments, emails are generally used to track invoices. This process is time-consuming and can get quite exhaustive.
Time tracking tools offer integration with other software so one can manage billing and invoices, allowing payments to be made and invoices to be raised on time and without too much effort. Doing away with micromanaging
One of the things that can make a work environment stuffy is micromanagement. While at times it becomes necessary to stay on top of projects, other times it can come across as overbearing. Time tracking tools allow managers to give their team the liberty to work while feeling trusted and empowered, the freedom to do so. With all information readily available they won’t have to keep checking in, and team members won’t have to spend precious time catching up on the progress. Improving productivity
Measuring productivity periods allows one to plan better and allows team leads to assign work based on its manageability. This can also help one work towards learning one’s habits and improving productivity. Setting realistic targets
A good time tracking tool will allow one to assess the ETA of a future project while providing all the information required on past projects and the time taken to complete it—as a team and individual contributions. This allows one to avoid wasting time in lengthy meetings and discussions and quickly gauge an estimate.
One of the things that can make a work environment stuffy is micromanagement. While at times it becomes necessary to stay on top of projects, other times it can come across as overbearing. Time tracking tools allow managers to give their team the liberty to work while feeling trusted and empowered, the freedom to do so. With all information readily available they won’t have to keep checking in, and team members won’t have to spend precious time catching up on the progress.
Measuring productivity periods allows one to plan better and allows team leads to assign work based on its manageability. This can also help one work towards learning one’s habits and improving productivity.
A good time tracking tool will allow one to assess the ETA of a future project while providing all the information required on past projects and the time taken to complete it—as a team and individual contributions. This allows one to avoid wasting time in lengthy meetings and discussions and quickly gauge an estimate.
Factors to consider when selecting time tracking software
- Features
The time tracking tool that eventually is chosen should meet all the requirements of the business it’s intended for. Choosing software that only tracks time and nothing else doesn’t make sense. It would be cheaper, but then one would need to employ more apps for other tasks like productivity, invoicing, payroll management, and budgeting, among others. Business priorities must be taken into account before choosing a tool. - Ease of use
Once the list of software has been narrowed down based on which features are on offer, the next step is to determine ease of use. Consider all the employees and team members who will need to use the tool and the simplicity of it. If the tool isn’t effortless to operate, people might waste time using it, defeating the purpose of productivity and time management. Check customer support, automation, and intuitiveness of the tool before zeroing in on one. - Integration with other solutions
A business uses multiple tools for its day-to-day functioning, and any time tracking tool being considered must be easy to integrate with the software and tools currently in use. - Scalability
Choosing a time tracking tool for the “now” does not make good business sense. As organizations grow and evolve, the tool needs to be scalable and accommodate an increase in users, usage and volume. It should be able to handle complex projects and larger teams while maintaining its performance. - Security
When choosing an online time tracking software, one must ensure that it has security features like user authentication, encryption and secure connections so there is no threat of data breaches and theft. - Flexibility
The tool should be intuitive enough for users to customize it to suit their workflow and accommodate diverse work styles. Having a customizable time tracker can create a unique personalized experience for the user and, in turn, maximize productivity.
Estimated costs of time tracking tools
While there are some free time tracking tools, the features are limited and one may be required to start paying after a 10-15-day free trial. The average cost can range from $5 to $17 per user, and this does not include the cost of setup and hardware.
Some useful online time tracking tools
- Toggl Track
- HourStack
- Jira
- Timely
- Clockify
- Memtime
- TrackingTime
- RescueTime
- Time Doctor
- Hubstaff
- QuickBooks Time
- ClockShark
- Paymo
- TimeCamp
- Deputy
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