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4 Reasons Time Tracking Increases Efficiency for Small Business

4 Reasons Time Tracking Increases Efficiency for Small Business

If you’re a business owner, chances are you keep track of every cent that comes and goes within your organization. Knowing how you spend and make your money may seem like a no-brainer to business success, however, the time spent in your organization is no different. After all, time is money, and money is time. Employee time tracking could be the next step in increasing your business’s efficiency and bottom line.

Knowing more about how you and your employees are spending their time can help you boost productivity and profits. It can help give you an edge against your competitors and ultimately give you powerful insights into your business you wouldn’t otherwise have.

There are 4 key reasons why time tracking is such a quintessential part of a business’s success. It can:

  1. Streamline processes and boost productivity
  2. Help identify barriers for your team
  3. Reveal powerful insights into your business
  4. Increase employee focus and morale

Keep reading to understand further why implementing timekeeping software for small business is imperative.

Streamline Processes and Boost Productivity With Time Tracking

 

Time tracking software for small business should be a top priority if you want to recognize processes that need to be streamlined. Understanding estimated time versus actual time to complete a task or a project can help you recognize where processes can be streamlined to save you time, and money.

Depending on the timekeeping software for small businesses that you’re using, you may be able to streamline processes directly in your software.

For instance, in the VeriClock time tracking app and software, courier and delivery business are able to clock in and clock out for each route, delivery job, or client. This helps them understand what standards should be for time tracking, and where they can save time.

To help streamline the process, Vericlock also allows custom data configuration to gather useful information like mileage recording, delivery and pickup status and expenses incurred.

Time tracking with added bonus features make VeriClock one of the best timekeeping software for small business. Benefits like this can help you streamline your processes in order to boost your entire business’ productivity.

Identify Barriers for Your Team

 

Many teams have members who work longer hours than others. Employees who work more than the standard 40-50 hours a week could be an indication of a few things.

Are they overloaded with work? Do they need further training to help them complete tasks more efficiently? Or, are they a high performing team member?

It’s important for managers to understand why your team members are logging as much time as they are because some behaviours point to a high performing team member with too much work on their plate, an employee who needs more training or, it could be an indication of low morale in the coming months.

Time tracking could also reveal processes in your business that are holding up your employees. Is it necessary to take over 10 steps to log an expense receipt? What if the time spent calculating expense receipts is costing your business more than the actual expenses?

Gain insights into your employee’s behaviour and organization’s processes with time tracking software. It can help you remove bottlenecks, help them feel fulfilled in their positions and ultimately, increase efficiency.

Reveal Powerful Insights Into Your Business With VeriClock

 

Time is money. Money is time. What’s your time worth?

Time and attendance software for small businesses can help you calculate your time’s ROI. Was that project worth the time that was spent on it? Or even, is this client’s work worth your team’s time?

Understanding your time’s value can help you set goals and make a real difference in your business. If your employees know they have a goal for a project or task, it can help them improve their efficiency, and have a tangible way to showcase their skills to whoever they report to.

In addition to tracking your employees time, tracking their clock in and out location can be just as important. Many of our clients who work across several different locations have claimed this feature adds accountability to their employee time tracking.

Time tracking software like VeriClock can give you powerful insights into your business. It could mean a difference between profit and loss or efficiency and inefficiency.

 

Man Tracking Time with VeriClock

 

Increase Employee Focus and Morale

 

How much time do you spend multitasking in a day?

While simultaneously completing your to-do list for the day may seem more productive, studies have show multitasking actually inhibits productivity.

Implementing timekeeping software for small business means you’ve dedicated time to starting and finishing a task. It can help you stay focused, instead of jumping from one task to another.

In addition to helping you reduce tendencies to multitask, timesheet apps for small business can help you give your team a better idea of their responsibilities. Setting time goals for tasks can help them understand the scope of a project or task. It can help them streamline their workflow and ultimately improve efficiency.

This is why employee time tracking is so essential. Even if you have team members on salary, tracking their time can give them valuable insights into how they spend their time individually.

Employee time tracking can simultaneously help boost employee morale and efficiency. An employee who feels efficient and feels they’re making valuable contributions to your team is a happy employee.

Start Time Tracking With VeriClock Today

 

Timekeeping software for small business can be one of the simplest decisions you make to propel your business into higher efficiency and profits.

The best part? It’s simple to understand, simple to implement, and inexpensive.

VeriClock has unique features that can help streamline your process and give you powerful insights into your business. Need a feature you can’t find on our website? No problem. Our team would be happy to chat with you. We create custom solutions for our clients to help them succeed.

In addition to this, VeriClock only has a base fee of $10 a month. Each additional active user is only $5 a month.

Don’t believe us? We’re one of the best rated time clocks for small business. Check out a recent review from Fit Small Business.

If you’d like to learn more about how VeriClock can help propel your business’ efficiency and boost your bottom line, schedule a live demo with one of our team members today. We’ll give you a no-charge, no-commitment overview of our software along with a free trial so you can decide if it’s the best option for you and your team.

Start a 30 Day Free Trial with VeriClock Today to start increasing your efficiency.