Businesses have grown mature in their time tracking approaches over the years. Be it customer demand or competition, organizations have moved swiftly on adopting the best possible time management practices.
Time management is one of the most sought after skills for success both individually and as a business. The benefits of time tracking are known since time immemorial, yet we struggle to manage it optimally.
When time isn’t managed optimally, you get caught up with:
- Project timeline and budget breaches
- Over stressed teams
- Sub-quality deliverables
- Very high cost of delivery
- Reduced margins
- Customer dissatisfaction
It all starts from a single distraction and/or procrastination. And soon spreads like an epidemic eventually eating up your entire project execution and delivery.
Disciplined time tracking helps you overcome the most common pitfalls while running your projects and business.
Be it filing taxes on time, delivering on time, billing and receiving payables on time to disbursing salary to your employees.
Imagine if your employer was erratic in paying your salary. Wouldn’t your financial planning for the months take a hit?
It is for these reasons that there is a disciplined approach to settling dues, submitting claims within stipulated time.
Are you under the notion of being a workaholic since the lack of time takes a toll on your work?
With changing dynamics in the digital age, time tracking has served to be an advantageous affair to both, employers and employees.What boosts your productivity depends on the set of priorities.
Not only this but also the right time tracking software must suit your company’s requirements and goals.Why is Time tracking important in Organizations?Given that Project Management is a heavy responsibility, the benefits you gain from time tracking with project management tools have a greater edge.
That said, defining the deadlines, delegating tasks, and analyzing the results are three main cornerstones that make Project Management a prime weapon to achieve a higher ROI.Micro-management is a term that’s long forgotten because it’s nearly impossible to keep a tab on every task assigned without a tool.What made Time Tracking a success for the last few years are—Billable vs. non-billable hoursResource UtilizationIdentifying resource availabilityTotal project hours vs. spent hoursPlanned vs. actual hoursAll in all, the absence of resourceful Time Tracking software can turn your dream project into a nightmare.
Read the full article at Orangescrum blog
With 35% of US workforce now classified as freelancers, businesses are adapting to the challenges of managing remote workers.
Collaborating with remote workers and building a unified team is difficult, but can be extremely rewarding and cost effective. You need to use the right tools and processes to maintain high productivity, morale, and creativity levels.
Communication and productivity tools are important for managing remote employees because they enable you to better organize the team and keep everyone on the same page. They also help employees to execute without you having to look over their shoulders all the time.
