27 Aug The Importance of Time Recording for Efficiency
In today’s competitive business environment it’s essential to have a system for tracking and recording how your employees manage their workloads. This enables you to accurately assess the true cost of providing services to your clients and the time it takes to do so.
It also encourages your employees to be more focused and productive. Specialist software makes this a simple process and investing in it will lead to a host of benefits.
Easy to Use
Web-based programmes give all staff the ability to record their time quickly and precisely. The system can be accessed in-house or on mobile devices so everyone is always connected even if they’re working from home or travelling.
This ensures all hours are accounted for and generates a clear picture of company operations on a daily basis.
Accountability Leads to Increased Productivity
Time recording gives staff a picture of their contribution to the company in terms of costs and profit. This provides the incentive to review their performance and adjust methods of working if necessary. Workloads can be prioritised more effectively and a more focused approach to the task in hand will emerge.
Employees will gain a greater understanding of the company’s long-term strategy, and the knowledge that their input is integral to the plan will increase motivation and improve productivity accordingly.
Managers will benefit from a comprehensive and on-going overview of all projects, making it easier to guide staff as necessary.
Aids Forward Operational Planning and Budgeting
Time recording isn’t just for the present. It’s an ideal tool for planning future work in a cost-effective way. It becomes easier for managers to set realistic goals, allocate the correct resources and ensure that everyone is fully engaged from the outset.
Companies can be confident that the budget is correctly assigned and the likelihood of wasting money further down the line is considerably reduced.
Identifies Issues and Encourages Solutions
Analysing how time is spent casts a helpful light on all areas of the business. When certain assignments are identified as taking too long to complete, measures can be implemented to improve the situation. Even mundane events can be scrutinised and changed for the benefit of everyone.
For example it may become apparent that various meetings are taking place frequently – a common occurrence in many offices.
Are all of them really necessary or can they be combined into a single weekly session, giving everyone more time to get on with essential tasks? Overlong lunch hours or lateness will also be revealed and rectified.
Quick and Accurate Payroll Data
A good time-recording system is worth its weight in gold when it comes to preparing the payroll. This no longer needs to be a manual process as all data relating to attendance, client invoicing and time is automatically entered into the system on an on-going basis. Overtime, breaks, holidays and lunches can all be instantly accounted for.
It’s accurate and dramatically reduces the number of man-hours this would normally take in a traditional accounts department.
Improves Relationship with Clients
Clients can be confident that their requirements are being dealt with in the correct way and they’re getting value for money. Progress can be clearly tracked against cost as web-based systems provide a clear audit trail.
Revisions to the job specification or changes in charges will be obvious and precisely recorded so the company and customer both have access to the same information.
This transparency will go a long way to building strong and lasting relationships with clients.
Stand Out From Your Competitors
Accurate time recording isn’t about micro-managing but providing a system which enables all employees to be fully involved in the process from beginning to end, in the most effective and financially viable way.
It allows wasted time and resources to be eliminated and new procedures to be swiftly implemented.
You’ll be able to respond to your clients quickly and efficiently and manage each project in the most productive way. Your day-to-day operations will be more streamlined, and that’s bound to give you a competitive edge.
Our simple but comprehensive software helps businesses to operate in the smartest possible way. Find out how this powerful tool can work for you.
For more information on how to manage your resources efficiently, get in touch by calling 0208 292 2660 or contact us here.