You’ve probably heard the saying: “Time is money.” It refers to the value of time (which is finite) as a commodity. If you’re not making the most of your time to earn money, you’re essentially losing money.
Whether you’re a business owner, entrepreneur or professional, time is your most important asset – and knowing where you spend it on is crucial. Otherwise, you waste your time on activities that are less productive or profitable.
That’s where the need for time-tracking software comes in. Simply put, it lets you monitor how you and your remote virtual assistant team spend your time, and this comes with benefits for your business. Here are some of the major ones you should know.
Time tracking simplifies billing
Any amount of time you spend performing your core business for your customers should be billable. But you’ll likely have a couple of concerns when filling out your invoice:
- Relying solely on memory is out of the question. You’d likely forget the little things, and they add up.
- Manually recording each block of your time and indicating its corresponding activity is time-consuming and tedious.
With a time tracker, you – or each member of your virtual assistant team – can record tasks as they’re carried out, then generate a report or invoice (depending on the software you use) to bill the client. This allows you to save time on administrative tasks and ensure that you bill every activity.
It lets you better utilise your team
If your remote team tracks all activities, your organisation will eventually gather enough information that would let you:
- Monitor how much time is given to each client.
- See how each member of your team spends their time.
- Plan your team’s tasks and adjust them when necessary.
For example, let’s say you add each client as a project in your software. As everyone on your virtual assistants in the Philippines team tracks their time on each, they also create different categories based on the various tasks they do for every client.
If you budget a certain amount of hours for a project but notice that your team has nearly used up all the time you allocated, you can address the issue right away by:
- Budgeting more hours (and informing the client, of course), or;
- Instructing the team to focus only on urgent tasks for that client.
Likewise, if your remote team is finishing a project earlier than expected, you can plan ahead and ask the client for additional work, or reduce the amount of non-billable work.
You can standardise tasks
As your remote assistants’ team gets used to tracking time and categorising different responsibilities, you’ll be able to eventually create benchmarks on how long it takes to complete different types of tasks. This will enable you to create precise estimates on how long endeavours take.
For instance, because you know how much time your offshore virtual assistant services team spends on research and production, you’ll be able to provide existing clients and stakeholders with accurate quotes for future projects.
At the same time, because you know when your offshore assistant team can complete projects, you can take on other clients, maximising your company’s ability to earn.
It helps you design better processes
Another benefit to knowing how offshore virtual assistant services employees spend their time: you find out the actual financial costs of specific business processes. This data can help you make improvements to your organisation’s procedures and make your teams more efficient.
Performance reviews become more accurate
One of the major problems with performance reviews is that managers need to evaluate an employee’s performance for an entire year. Clearly, leaders can’t do this on memory alone; they need to look at tangible data.
But if you’ve been tracking your remote it staffing employees’ time and activities, you can conduct performance reviews impartially and rely completely on what the numbers show. This would allow you to:
- Determine who deserves recognition and/or better compensation.
- Coach underperformers to help them improve.
To ensure overtime is recorded
There are non-exempt and exempt employees; the former are entitled to overtime pay, while the latter isn’t. If your companies that hire virtual assistants team has non-exempt employees, you’ll definitely need to monitor their time with time-tracking software to make sure that their salary is properly distributed.
Not giving overtime pay to non-exempt employees puts you at risk of lawsuits, which can be used to recover unpaid wages – and you don’t want that.
It lets you scale up your business
Growth is inevitable when your business is running like a well-oiled machine. By carefully keeping track of your IT staffing in the Philippines employees’ time, you’ll be capable of expanding your revenue proportionately.
Time-tracking software, for instance, can make your remote team more efficient and significantly cut down on invoicing and budgeting. With the time you save and profits you maximise, you can ramp up your output by hiring more remote employees. And because tasks are benchmarked, you’ll know how many more people you need to scale up your business.
Schedule a call with us. Let’s talk about the roles your business needs.
These days everybody is a fan of listening to music But everybody goes through the same problem How to convert their favorite YouTube video to MP3.
It provides a fast and free downloader that helps you to convert and download directly.
YouTube makes it very easy for you to download your favorite videos in less than minutes.
With the help of YouTube2video You can easily download the MP3 from YouTube no matter if it’s a TV show a documentary or any other.
When if you are willing to download a video and then converted into audio then you can simply put the you are a link from the share option on the YouTube channel and copy paste it to the downloader then you can simply click on convert video button and choose MP3 quality in which you wish it to be converted.
The service gives you a faster speed and also for the more is the quality of the video is good then it will be easier for you to render the speed.
Best Dental Clinic In BhopalGetting braces is a really not a big deal.
All you really want is to have that perfect smile, but there’s a wide plethora of choices when it comes to getting orthodontic care.
And you really want to be careful when it comes to entrusting an orthodontist out there with your teeth.Luckily for you, you have come to the right place.
With the help of the best dentist in Bhopal, you can improve the arrangement and position of your teeth with braces, and thus your teeth will be easier to clean and therefore less prone to cavities and gum problems.Smile Correction in BhopalMoreover, you will find that the better positioning of your teeth will also make them less prone to injuries, be they external or internal.Basically, you will see that the orthodontic appliances are made with metal, ceramic or even plastic.
The way braces work is like this: through the process of placing a constant and a gentle force in a carefully controlled direction, the braces gradually move the teeth to their normal position.In today’s world, you will see that braces are more effective than ever before.
You can choose brace brackets that are clear or perhaps even metal, or even opt in for invisible braces that do not show at all.
PNB personal loan EMI Calculator is a tool offered by Punjab National Bank.
This tool helps users to calculate their monthly EMI for PNB personal loan.
And It's very easy to use simply put your required loan amount with the interest rate and loan tenure, it will automatically show the required EMI amount you need to pay every month for your loan.
You can also check this at Afinoz.
If you want to communicate with your horse, here’s the secret: slow down and pay attention to what your body is saying about your feelings.
If you’re angry, upset, frustrated, or off balance regardless of how you pretend to be feeling your horse is going to know.
Simply put, you can’t lie to a horse.
Horses don’t care what we say because they are only reading our body language.
When you’re riding, or even sitting on a horse for that matter, all the horse wants is for you to be authentic, surrender, and find your balance something that, for many of us, is not an easy task.If you’ve had a hard time keeping steady with your horse lately, you’re gonna like this one.
you will learn:How achieving the goals with your horse is like being a loose horse in the arena- fresh out of the stallWhat you did to get your productive mojo back after numerous “stops” along the wayHow to come to terms with your own seasons of life (without losing progress with your horse)That your horses always look the happiest when they are able to be free and buck as they pleasePhysical communication is the primary way that humans communicate with horses.
