Resource management and time tracking are driving factors behind success of any project. It’s no more a hidden theory that manual tasks to track employees’ work hours are subject to human errors. In order to ensure efficient processing of invoices, payments, every company spends a lot of money on delegating special staff to track employees’ working hours, breaks, leaves, project deadlines, etc.
However, many business owners admit in dismay that manual keeping of employee records often results in gratuitous loss for their businesses in terms of money.
Now, think about time tracking tool that eliminates any risk of human error, whatsoever, that too with utmost ease. The tool, in form of a software, is designed keeping in mind all the important factors required for flawless employee management system and time tracking.
For example, biometric time attendance system, which ensures not only precise tracking of employee time, but also removes the convolution of payment processing.
Similarly, in case of Project Management, in contrast to practice of manually keeping employee records, time tracking software saves both time and money for project managers.
Turns out from findings of various studies that human errors cause many companies unnecessary losses due to overpayment ranging between 1 to 8% of total payments.
All these aforementioned factors signify the importance of time tracking software in successfully managing projects. Use of technologically advanced products is the need of the hour to make a project big success.
Time tracking software rids the need of wasting a lot of time on performing administrative work, therefore opens new avenues to perform important activities. It makes enough sense to call time tracking software an amazing tool that boosts business productivity and increases profits, regardless of company size.
Time tracking software also plays a role in keeping employees happy as they do not face predicament of being paid less due to errors in manual recording of their working hours. The technology helps in retaining employee satisfaction and avoiding disputes pertaining to employees’ work hours.
Following are the advantages businesses could draw by deploying time tracking software:
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No human errors
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Precise employee hours
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No risk of time theft
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Hassle free management of leaves requests, PTO and overtime
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Easy, flawless processing of payroll
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Actual & planned work time reports
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Customization setting
Many resource managers previously failed to take cognizance of revenue loss due to human error. However, with the advent of time tracking software and its capability to ensure effective management of workforce, entrepreneurs are now increasingly paying heed to empower their businesses. Time tracking software is now seen as a boon to every project.
Although there are a few Time Tracking tools available in the market, FindNerd offers you extra advantage of easily generating invoices.
FindNerd is a product of Evon Technologies, a custom web design and development company. The software comes with session tracker to help both clients and Project Managers to easily determine the number of hours their team has worked for, and pay them accordingly. Such a time tracking tool removes the conundrum of calculating actual work hours of employees, and increases productivity. Clients doing business through FindNerd can keep a track on their employees’ performance and ensure their projects meet deadlines.
In this article, we have discussed importance of time tracking tool to manage workforce and keep a tab on employees’ performance. We hope you find this article beneficial for improvement in efficiency, productivity levels and overall success of your projects.
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