A business gets a better vision of the future when it knows how its employees are performing. From a business point of view, productivity and tracking time allow you to improve the team’s performance, maximize resources, and gain accurate knowledge of how hours are being spent.
Wise decisions come from real scraped data and not guesswork. Every CEO of the company wants to know that their employees are working effectively and the productivity scale is increasing every month. But, how is it possible to inspect all employee’s activities at regular intervals?
Various organizations are facing trouble getting accurate time records of employees. Some industries claim that all the employees are present at work locations, but the productivity is way less than expected. This may create a loophole in a clear understanding of employee’s activeness and dedication towards their project.
To avoid this from happening, you can automate and track their tasks with automated online timesheets. Globally, the usage of timesheets will reach up to 20.69% by 2025. It shows, that employee monitoring can be effectively done by accelerating timesheets in your business.
Here, this blog provides insight explaining how the timesheet will be helpful for your business.
Let’s begin with the basics.
What is Online Timesheet?
The timesheet is a data sheet that employers use to track the time of employees for a certain period of time. It is basically a record of time spent by the employees on a particular task, client, or project. There have been different ways to record the timesheet, like, paper, spreadsheet software, excel, and nowadays online timesheets software.
Why should Businesses use Timesheets?
For any business to rise and shine, there should be effective work performed for effective results. Thus, a business owner wants its employees to utilize their work duration in a productive manner. Having a fleet of employees, it becomes quite difficult to understand each employee’s efficiency to finish their task.
Therefore, it turned out necessary to keep track of the employee’s dedication to complete the project. Here Timesheet comes into play. It will help to determine each employee’s work status. Accordingly, you can motivate the employee who is working slow. This will help to meet deadlines and maintain the budget also.
How do different business sectors use Timesheets?
Various types of industries are using Online Timesheet Software in different terms. Let’s check out how:
- Law Firm
The law firm sector keeps a record of their client’s dealing hours and maintains a list of services they provide. Here, the timesheet assists in tracking the bill according to the client servicing hours.
Many freelancers charge per hour with the clients. Thus, maintaining the time record is very necessary. To do this, freelancers use the Timesheet online calculator that helps to record the time precisely. This helps to keep transparency between you and the client.
The accountant’s profit depends on how the workers of the company spend time to complete the client’s project: the more billability, the more profit. Thus, to set a record of the time and bills, the Timesheet is required. But, correct software should be chosen for the accountants that can help in employee tracking and maintaining the online timesheet. One recommended software is WorkStatus, which includes an all-in-one feature.
Advantages of Timesheets
Here are the best shots that Timesheet plays for any business:
- Reduce Time Wastage
The timesheet tool helps you understand the caliber of each employee in a particular task, and in accordance with that, you can assign the tasks. This way you can make utilization of every hour without letting time go into vein.
- Accurate billing
The online timesheet helps to bill accurately without keeping you in the loss. Also, it gives a professional look to the clients that you are working very efficiently. The clients will not have to check repeatedly regarding the progression of the project and whether or not will be completed on the discussed date or not.
- Automates Billing
All the industries which provide services according to the hour’s use timesheets for billing. Furthermore, various software helps in auto invoicing and billing. Thus, with auto-billing, you can save ample time, no errors, and increase revenue.
- Project Management
Here are some points to know why a timesheet is one of the important tools for project management:
- Tracking project helps the team leader keeps the new project ready to assign
- By tracking the performance from the employee timesheets online, you can assign the projects according to their calibre.
- It helps in measuring the overall efficiency of the project.
- It also gives an overview of workers available and accordingly to distribute the task.
- Timesheets enable project managers to anticipate delays.
- It also aids in estimating the expected cost to the real cost.
- Saves Company’s expenditure
Timesheets will give you the details on what project your employees are working with and with regular monitoring, you will understand who is not capable of performing the task. They track the total amount of time employees work with the output they produce. This way, you can spot the employees who are not dedicated and are costing your company. Accordingly, you can take action on this.
Must-have features in Timesheet software
- System Compatibility
In the co-working space, employees use different operating systems. Therefore, it’s important that the timesheet software you choose should be compatible with different operating systems like iOS, Mac OS, Windows, and Linux.
- Simple representation of information
Your timesheet software should have a user-friendly interface that includes different filters for your timesheets of daily, weekly, and monthly, and any other visualization that you might need.
- Timesheets approval and times-off request
Real-time should be available when employees submit their timesheets at the end of the day. Also, it should have access to accept or deny the times-off request.
- Multiple device compatibilities
The timesheet tracking software should have the flexibility that allows the time logging from:
- Web portal
- Mobile phones
- Any other system
- RFID tags
- Easy integration with other apps
You should be able to save and export time records to other systems which will allow integrating timesheets with other apps.
- Technical Support
The Online Timesheet software should have hassle-free technical support all round the clock. Customers should be able to reach out at once and get the queries resolved.
With the growth in technology, time has become a vital part of businesses, and simultaneously a timesheet has been chosen by different industries, to know each hour’s production. An Online Timesheets Software For Employees like Workstatus will help you provide an auto-update about the time schedules of the employees. This will help your business to drive to success. So, say bye-bye to paper timesheets and choose the software that will give accurate time notes, and your data will be safe and secured.
Q. What is Timesheet?
A. The timesheet is a data sheet that employers use to track the time of employees for a certain period of time. It is basically a record of time spent by the employees on a particular task, client, or project.
Q. Which is the best Timesheet software?
A. WorkStatus software is the best software that has 8+ features and is available for all types of industries.
Q. Is the time record accurate in the Timesheet?
A. 98% of the record is accurate in Timesheet but do not overlook if the employees are genuinely telling you the glitch.