Time tracking software solutions have always played a key role in helping businesses overcome the drawbacks of manual time and attendance. Today, businesses are able to achieve a much more streamlined and accurate payroll process. If you compare timekeeping software systems with manual time and attendance management, you would definitely find automated software to be the clear winner, especially when it comes to the accuracy of recorded employee work hours. Along with this, businesses using automated software have the added advantages of reduced human error and the ability to integrate with payroll systems at the same time.
There are several time tracking applications, some of them integrated with online invoicing and billing systems, and many that are free to use for at least one user. Web-based time tracking services offer typical cloud computing benefits, such as having your information accessible from any internet-connected device. They’re also easier to use if you want to share time usage reports with clients or managers. In addition to this, many cloud based time tracking services also have a mobile app or desktop widgets available for added convenience.
Better Employee Management
One of the most important benefits of a good cloud based time tracking software is that it helps in employee scheduling management. Accurate time and attendance tracking allows employees to clock in and clock out on their own, while preventing or reducing mistakes, unauthorized use, and intentional falsification of timings (time theft).
The accuracy of time tracking software helps business owners analyze how efficiently employee time is being used, and how effectively employees are managed. This in turn leads to a minimized amount of overtime being paid out, while enhancing resource planning. It helps managers identify problem employees and keeps the company in compliance with state and federal regulations.
Automatic Reporting Systems
Time tracking software integrates seamlessly with software systems and can be used to create custom reports as well. Weekly Human Resources (HR) reports can help easily track unauthorized absences, sick days and annual leave. Weekly reports can also be used for budgeting and analyzing scheduled hours versus actual hours.
Software to keep track of project time provides many benefits. For example, some of the benefits include a reduction in labor costs, spreadsheet management, increased revenue, elimination of unnecessary data, and very accurate tracking of expenses and time. In addition, this type of software provides detailed reports on time spent on various projects, along with historical data about past projects and other relevant information.
With all these great benefits, today any business-medium or small-can use cloud based online applications for a monthly fee, which always get upgraded to the latest version without any worry or hassle. Cloud based applications are available via any computer that is connected to the internet. No software is actually downloaded to your computer, so there is no onsite software to deal with or upgrade. It’s all done seamlessly on the service provider’s secure server in the cloud. What could be better than that?