Time management – eBillity https://ebillity.com Time Tracking for Payroll and Time & Expenses for Invoicing Tue, 30 Jul 2024 20:37:51 +0000 en-CA hourly 1 https://wordpress.org/?v=6.6.2 /wp-content/uploads/2023/10/cropped-ebillity-favicon-32x32.png Time management – eBillity https://ebillity.com 32 32 Time Allocation Techniques for Enhanced Productivity https://ebillity.com/post/time-allocation-techniques-for-enhanced-productivity/ Fri, 15 Mar 2024 15:51:00 +0000 https://ebillity.com/?p=15666 Managing your time effectively is its own reward. For every day that you complete your to-do list efficiently and finish your work early, you have time to spare. The time you win back, you can put toward things that you truly want, whether that is relaxing in a sunbeam or working on a creative skill. There are many ways that ... Read more "Time Allocation Techniques for Enhanced Productivity"

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Managing your time effectively is its own reward. For every day that you complete your to-do list efficiently and finish your work early, you have time to spare. The time you win back, you can put toward things that you truly want, whether that is relaxing in a sunbeam or working on a creative skill. There are many ways that people try to live more efficiently, but we have found that time allocation is the key.

It’s not what you do, but how effectively you do it. Time allocation techniques allow you to take control of how you spend your time, how much time you spend on each task, and ultimately how efficient each day can be. Once you master time allocation, you can regain control over your life and – more importantly – your free time.

Whether your goal is to perform exceptionally at work for a promotion or simply to complete your tasks with satisfactory speed, we’ll take you on a tour of time allocation techniques that you can try today.

Understanding Time Allocation

The essential time allocation meaning is to assign specific amounts of time to everything you do in the day. Rather than listing everything and completing the items in order, you decide how much time and which section of your day each task will be granted. In this way, time allocation is one of the best methods to ensure that the day doesn’t get away from you one task at a time, because time is the deciding factor rather than the checklist itself.

The definition of time allocation is to allocate tasks based on time. Keeping a planner or a time tracking app handy are both useful ways to ensure that you don’t spend too long an any one task, so that more tasks can be addressed throughout the day.

What is an Example of Allocated Time?

Time allocation can be summarized in two different examples. One is to allocate tasks based on a planner schedule. You might check your email from 7:05 to 7:15, then allocate a work focus session from 7:15 to 10:15, and so on. This is when you dedicate blocks of time to specific tasks or projects.

However, the alternative way is to give each task a set amount of time that you will focus on it, no matter when you address the task during the day. For example, you might resolve to check your emails for only 10 minutes and spend 3 hours in a focus session. Both could take all day, but assigning a limited amount of time to each task ensures you have time to address all your duties each day, then come back for another timed round later.

Proven Time Allocation Techniques

Let’s take a closer look at some of the most popular time allocation techniques currently being used. Time allocation provides many opportunities to get organized and more time-efficient, and each one has different advantages and strategies that optimize the results.

Of course, not everyone thinks, organizes, or achieves efficiency in the same way. The best way to unlock your hidden potential for efficiency is to explore all the time allocation techniques to discover which one works best for you. At least one of the following six-time allocation systems is sure to make you feel motivated and help you realize just how much you are truly able to complete in a day.

1. The Pomodoro Technique

The Pomodoro Technique has received a huge amount of hype and support from both organized and non-organized professionals alike. Why? Because it is simple, and it works.

The basic premise behind the Pomodoro Technique is to break up your focus into 25-minute segments in which you focus on a single task, then rest for 5 minutes. It’s really that simple. The Pomodoro Technique broken into steps looks like this:

  • Choose 1 task to focus on
  • Focus on your task for 25 minutes: Set a timer
  • Stop after 25 minutes
  • Take a 5-minute break to do whatever
  • Repeat until satisfied.

There are three important elements to the Pomodoro Technique: Focus, Timer, and Rest.

Focus

The first element of Pomodoro is focus. You choose just one task. You focus on that task while the time runs without distraction. You don’t stop to scroll your phone or answer an email. You do only your chosen task for the full 25 minutes, or until the task is completely done. This eliminates the false efficiency of multi-tasking.

Timer

The timer allows you to stay in control of your time. You can’t over-focus and work too long, stealing time you need to do other things. You also can’t break off too soon because you should be focusing until the timer goes off. The short timer also ensures that you have time for other tasks.

Break

The break in the Pomodoro cycle is what keeps you from burning out with this high-intensity time allocation technique. You get 5 minutes out of every 30 minutes to close your eyes, sip some coffee, or whatever helps you refresh your mind before starting the next 25-minute task timer.

After about 2 hours of this, take a 15-to-30-minute break. This will keep the burnout at bay.

2. Eisenhower Matrix

The Eisenhower Matrix helps you organize your task list by two factors: urgency and importance. You have probably seen these little square charts before without even realizing that it’s a time allocation technique. The goal is to re-prioritize your task list and handle each task in the most efficient way possible. If you’ve ever made a punnet square in science class, you’ll recognize this one.

The concept is very simple. You are sorting your tasks by urgency and importance, and the square they wind up in determines your next course of action.

  • Start by drawing a square made of four squares.
  • over the top two squares, write ‘Urgent’ and ‘Not Urgent’
  • Write beside the top-left square “Important” and the bottom-left square “Not-Important”.

Now you have your matrix. Within your matrix will be 4 options

  • Do: Top-Left / Urgent and Important
  • Schedule: Top-Right / Not Urgent, but Important
  • Delegate: Bottom-Right / Urgent, but Not Important
  • Delete: Bottom-Left / Not Urgent and Not Important

Sort your tasks into these four squares and follow the directions. Do the most important and urgent, book time for the important but not urgent, assign the urgent but not important, and get rid of tasks that are neither urgent nor important.

This way, your time is spent only on the most high-priority tasks, so you get the most important and urgent things done first.

3. Eating the Frog

Eat the frog” means doing the most difficult thing first. This time-allocation strategy is credited to famous author Mark Twain, who once said “If it’s your job to eat a frog, it’s best to do it first thing in the morning. And if it’s your job to eat two frogs, it’s best to eat the biggest one first.”

Eating the frog is one of the simplest time allocation techniques. it can be boiled (pun intended) down to a single overarching policy. Identify the thing you want to do least and do it first.

This single technique is the cure for procrastination, which is one of life’s greatest time thieves. Any procrastinator knows the time lost to avoiding that one thing you do not want to do.

If you do it first, suddenly the block is removed from your day, and you can dive into the rest of your to-do list with that thing (probably not as bad as you thought/as bad as eating a frog) taken care of.

Focus, Efficiency, and Frog Eating

Those who have looked more deeply into the “eat the frog” approach to time management have also found several important advantages.

Eating your frog first thing in your workday ensures that you have the most energy available to tackle the difficult task. It ensures you have the most time to deal with challenges or dive into a long focus session. It also provides you peace of mind because you are not distracted during your entire day worrying about that lurking frog/task.

4. 80/20 Rule (Pareto Principle)

The Pareto Principle also comes from a quote, this time by 1800s economist Vilfred Pareto. The core of the principle is that 80% of results come from 20% of your effort. 

That’s a big concept to think about. When planning your time allocation, applying the Pareto Principle means that you should identify which of your tasks falls into that crucial 20%. Then narrow your focus to do those 20% tasks first and best.

20% of Effort

Pareto identified that, in general, a smaller portion of your effort will have a bigger result. It might be that the work you do on a presentation will go further than the hours you pour into the reports that back your presentation. Pareto wasn’t saying that the other 80% isn’t important, just that you’ll go further by identifying that crucial 20% and giving it an extra push.

When allocating your time, identify the most important tasks each day and give them extra effort. Then, minimize the time used on the other 80% for the greatest efficiency, knowing they will have less impact.

5. Golden Hours

The Golden Hours time allocation technique involves identifying your personal best times to work. Everyone has golden hours, and not-so-golden hours. The key is to save your hardest work and your focus blocks for those golden hours when your energy is at its peak.

Know Your Golden Hours

Most people are at their most alert between mid-morning and lunchtime. However, night owls are the most energetic between dinner and midnight. Early risers are at their best between dawn and 10 AM.

You might have two sets of golden hours. Perhaps you’re wakeful in the late morning and the early evening, with a dip in energy just after lunch and dinner. Or perhaps you’re a double-golden night owl who loves early evening and those quiet hours of the early morning.

Optimize Your Energy

Once you know your best times of day, plan your task-list to align the hardest tasks and the longest focus sessions with your golden hours. Make use of your brain at its sharpest so that you can complete the most challenging tasks with your daily peak of capability.

6. Time Blocking

Time blocking is a technique that involves breaking your day up into time blocks and then assigning tasks to each block. It’s a good way to try several time allocation methods at once in a very organized fashion. You can use Pomodoro time blocks or longer blocks for focus sessions and team collaborations.

You can block your days by the hour or two-hour segments, or in 15-minute segments if you have many smaller tasks to complete.

Time blocks have the advantage of keeping you from running overtime on a task or under-focusing by trying to multi-task because there is blocked time for everything.

Implementing Time Allocation in Daily Routines

If you’re looking to gain long-term advantages in time management, it’s best to build time allocation into your daily routines. Using the same techniques every day will build a cycle that your brain will adapt to automatically. Once you have been blocking your time or using Pomodoro segments or prioritization techniques, your brain will jump directly to these methods when a new list of tasks arises to tackle.

How Should You Allocate Your Time?

  • Know how much time you have in the day
  • Split up your schedule into practical segments, either time blocks or set times for each task
  • Choose a time allocation technique that aligns with your work schedule
  • Keep track of your time allocation in a planner or scheduling app
  • Use a time tracking app to plan time blocks and avoid going over time

How Do You Allocate Time for a Project?

When you have a project ahead of you, break up the project into specific tasks and segments. Once your project becomes a to-do list, you can apply your time allocation techniques. Make sure that the time you allocate for each step of the project fits into your deadline and adapt as needed. 

Planning and allocating time for projects can result in better efficiency and outcomes.

Maximizing Productivity Through Time Allocation

If you’re looking to maximize your productivity, try several different time allocation techniques to discover which ones work best for you. Every person’s brain is a little different, so some techniques will inspire you to greater productivity and help you stay on track while others might not be as effective.

Don’t be afraid to combine techniques, either. For example, you can absolutely learn your golden hours, then use frog eating and time blocking to get the hardest work done at your best times. Or perhaps you’d rather Pomodoro your Eisenhower top-priority tasks 25 minutes at a time. 

Keep track of what you try and the efficiency you achieve to find what works best for you.

Discover Your Hidden Potential for Task Efficiency with Time Tracker

Using time allocation techniques can unlock your own potential for task efficiency. Tracking your time is a key element to both assigning tasks to time slots and assigning time slots to tasks. No matter what type of time allocation you prefer, Time Tracker by eBillity can help you optimize your use of time and personal efficiency.

Try the 14-day Time Tracker free trial to see for yourself whether our app is the key to mastering your schedule each day.

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How to Improve Time Management Among Employees in 3 Steps https://ebillity.com/post/how-to-improve-time-management-among-employees-in-3-steps/ Wed, 21 Oct 2020 19:19:01 +0000 https://www.staging6.ebillity.com/?p=10405 As a business owner or manager, keeping employees on time and on task is a big responsibility. It’s also a big opportunity — if you know how to improve time management and share those tips with your team.  Step one of that process is time tracking. By implementing an easy-to-use solution like Time Tracker, you’ll learn how to improve time ... Read more "How to Improve Time Management Among Employees in 3 Steps"

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As a business owner or manager, keeping employees on time and on task is a big responsibility. It’s also a big opportunity — if you know how to improve time management and share those tips with your team. 

Step one of that process is time tracking. By implementing an easy-to-use solution like Time Tracker, you’ll learn how to improve time management, for yourself and your employees.

Here are 3 steps to get employees on board with time management. 

  1. Know where you’re spending your time

One of the biggest challenges people have when learning how to improve time management is knowing where to start. Often, we don’t know what’s taking up the majority of our time until we track it. 

Ask yourself: What do you spend most of your day doing? Write down the 5 things you think you spend the most time on. Then, try Time Tracker free for a week. Do your results match up with your predictions? Most people’s don’t. 

With simple, transparent reporting, you may find that you’re spending a lot less time managing Client X than you thought, or that project Y has far exceeded its projected hours. By knowing where your minutes and hours are spent, you get personalized data that shows you how to improve time management — for you and your company. 

Share these specifics with your employees, especially if you’re rolling out a time-tracking initiative for the first time. Telling a personal story of how to improve time management is a great way to show employees the benefits of a system while also showing you’re a team player. 

  1. Track progress over time

The longer you use Time Tracker, the more trends will emerge. As a manager, you can use that data to determine how to improve time management. After a few weeks of tracking, what are the 3 biggest problems you see? Is there a time of day when responsiveness is low, or when employees aren’t where they’re supposed to be? 

Find a challenge that’s important to overcome and set a goal for the team or company. Be sure it’s something everyone can get involved with, whether it’s clocking in for every shift or reducing non-billable hours. Report back to everyone weekly on progress, and reward people once the goal is met. By operationalizing challenges and successes, you’ll not only improve your bottom line, but also your company’s morale.   

  1. Be flexible

When you’re learning how to improve time management as an owner or manager, a key step is marketing flexibility back to employees.

Time Tracker is great for employees because it allows them to:

  • Submit time-off requests in seconds
  • Get paid faster since time approvals are streamlined
  • Shift work schedules when they have appointments, errands or emergencies
  • Take breaks without worrying they’ll appear unresponsive, and
  • See how many hours they’ve clocked for a specific period or client.

By giving employees the tools to manage their own time, you’re giving them control, which is what many people want most. In a recent study, 64% of employees said they’d choose added flexibility over a 10% raise, so this is truly a point where employees will put their money where their mouth is. 

Try Time Tracker

Ready to start learning how to improve time management for your team? Start your free,14-day trial today. 

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How Are Scheduling and Productivity Related? https://ebillity.com/post/how-are-scheduling-and-productivity-related/ Fri, 14 Feb 2020 21:27:35 +0000 https://www.staging6.ebillity.com/?p=9202 Any company interested in attaining long-term success must have productive employees. Productivity, of course, can be measured in terms of how efficiently a business uses its available resources to turn a profit. Productivity metrics encompass a number of crucial aspects with regard to running a business: the use of monetary assets, workplace morale, customer satisfaction, and the use of time. While there ... Read more "How Are Scheduling and Productivity Related?"

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Any company interested in attaining long-term success must have productive employees. Productivity, of course, can be measured in terms of how efficiently a business uses its available resources to turn a profit. Productivity metrics encompass a number of crucial aspects with regard to running a business: the use of monetary assets, workplace morale, customer satisfaction, and the use of time.

While there are a myriad of ways to boost productivity at the office, one of the simplest (yet often overlooked) ways to do so is the implementation of an effective scheduling process. So, how exactly are scheduling and productivity related? 

The following discusses 3 key ways that effective scheduling software, combined with effective scheduling practices, leads to increased productivity.

1. Better Time Management

Perhaps the most obvious benefit that an effective scheduling process yields is better time management, for employees and managers alike. For instance, an advanced scheduling platform can provide key time management advantages in the following areas:

Reduction of Multi-tasking

With more traditional scheduling, managers are forced to constantly update employee schedules week to week (or in some cases, day to day). Many managers have to handle this task while juggling several other duties at the same time. What’s the result? One study found that, on average, productivity drops by 40% when an employee (or manager) multi-tasks.

In contrast, a platform that enables automated scheduling can drastically reduce a manager’s workload, leaving him/her more time to deal with pressing operational issues. In effect, the software allows the manager to be more productive on the job.

High Transparency for Employees

It’s easy for miscommunication to arise between managers and employees, for a number of reasons. This is certainly true when it comes to the scheduling process, especially if most workers are on rotating or variable shifts. It’s all too easy for an employee to misunderstand when he or she is supposed to come in to work, or miss a shift because of a last-minute schedule change. These unfortunate breakdowns in communication can contribute to a ton of lost productivity, along with an average absenteeism-related loss of $3,600 per year for each hourly worker.

A transparent and easily accessible scheduling system can help solve many of these communication problems. Software that automatically sends notifications of schedule changes to employees (via email and/or a dedicated app) ensures that they stay on the same page with management. Intuitive and easily-navigated calendars enable employees to get a clear understanding of when they are scheduled to work within the next few days, the next week, or the next month. 

With a visible and transparent scheduling system in place, absenteeism rates will drop, and productivity will inevitably increase.

Improved Planning Capability

On a professional and a personal level, the ability to plan is a critical skill for success. When employees have the ability to look ahead at their scheduled work week, they are in a better position to prioritize key on-the-job tasks, and thus perform more productively. Similarly, managers that have a firm grasp of when and where each employee will be working can successfully develop and execute project timelines according to business needs. Moreover, both employees and managers will enjoy a better work-life balance with a clear schedule in hand.

2. Enhanced Resource Management

Effective scheduling is not just about time management; it also enables managers to allocate resources in a more efficient manner. One of the most common examples of this principle in action involves payroll costs: specifically, payroll costs related to overtime.

It is true that the overtime option can offer several advantages to a business, such as the ability to avoid a heavy investment in new employees, and the capacity to meet busy periods and staff shortages. Nevertheless, there are also key drawbacks associated with regular overtime. These include:

  • Increased labor costs (employee pay at 1.5 times the normal rate)
  • More man-hours with less productivity, as employees tire and lose concentration
  • Decreased morale
  • A higher turnover rate

As the above points illustrate, businesses need to find a sustainable balance between using too much overtime vs too little. Effective scheduling software can contribute to this cause by helping managers keep track of which employees have already passed the overtime threshold, which ones have not, and how best to evenly distribute the workload for maximum efficiency and minimum cost. Smart overtime management can even promote worker safety, and increase employee morale overall, all of which contributes to a higher level of productivity.

3. Improved Reporting

Finally, an advanced scheduling platform should make payroll reporting and other key HR functions easier and simpler. For instance, schedule reporting can help in the following ways:

  • It allows managers to better understand current business needs, such as when peak times occur, and when staffing shortages are usually encountered. 
  • It enables managers to gain insight into employee behavioral patterns. For example, which employees are chronically late or absent? Which ones consistently come in early? What effect do longer shifts have on employee productivity?
  • It makes data compilation and visualization much more intuitive and actionable.

Exceptional scheduling software should be compatible with robust data analytics, so that managers and other key stakeholders can view scheduling metrics as a key component of the “big data” picture.

The Importance of Effective Scheduling Software

As discussed above, effective scheduling software offers several key advantages to forward-looking companies. For instance:

  • It promotes exceptional time management for supervisors and employees alike.
  • It helps to eliminate preventable misunderstandings.
  • It allows for a better work/life balance.
  • It enables managers to cut down on labor costs, especially with regard to overtime.
  • It promotes occupational safety by reducing the amount of overtime the average employee will work.
  • It boasts exceptional reporting capabilities to help company leaders make better decisions.

Scheduling and Productivity Go Hand and Hand 

Time Tracker’s new scheduling feature offers all of the benefits mentioned above along with many more. If you feel like this innovative scheduling solution could help your company, then try it out for yourself with our 14-day free trial and find out how scheduling can improve your company’s productivity. 

Read more: New Time Tracker’s Employee Scheduling

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How GPS Tracking Can Improve Business Efficiency https://ebillity.com/post/how-gps-tracking-can-improve-business-efficiency-2/ Fri, 17 May 2019 15:36:01 +0000 https://www.staging6.ebillity.com/?p=6893 Global Positioning System, or GPS, is a satellite tracking system that is increasingly used in businesses for commercial and personal applications. The benefits of using GPS are varied, and include many competitive advantages. In order to understand what GPS can do for your business means learning a little but about the technology itself. The first thing to consider is how ... Read more "How GPS Tracking Can Improve Business Efficiency"

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Global Positioning System, or GPS, is a satellite tracking system that is increasingly used in businesses for commercial and personal applications. The benefits of using GPS are varied, and include many competitive advantages. In order to understand what GPS can do for your business means learning a little but about the technology itself.

The first thing to consider is how much easier tracking your team will become. Using this technology means that you can do this in real-time, and the size of your team makes no difference to the efficacy of GPS, making this a must for businesses big and small.

If your team is spread out across different cities or on a more global scale, suddenly there is an ability to observe their movements and time frames remotely, and in real-time. If you’ve ever wondered if a particular employee has really been using their hours as efficiently as they can, or if you’ve wondered if there is perhaps a better route to utilize than some of the ones currently in use by your team, GPS allows for accurate data on which to base future decisions. By implementing a GPS tracking system, managers can quickly and easily locate their team from their device or desktop computer.

The way companies work has been completely reformed by using GPS tracking services. Not only can you keep track of employees–your products and assets can also be tracked with this system.

Here are some examples of how GPS tracking can improve business efficiency:

Better Planning

If you need to plan a route before your team heads out, or to revise routes for better efficiency, using GPS is the way to go.

  • Team members can program an address into the system and be directed to the most time-saving routes
  • Alternatively, GPS allows for better accuracy in travel times and optimal routes after a team has been out on a job, making future travel planning more cost effective
  • Employees will benefit from the peace of mind of understanding the best ways to travel and how to safely get to their destination, as well as the understanding that someone knows exactly where they are should they get lost or delayed
  • Managers can easily monitor routes taken by their team members and advise on faster journeys
  • GPS allows drivers and managers alike to stay updated with the most recent data for diversions or potential obstacles, saving hours of travel time as well as excess fuel costs

Fast, Easy Communication

Simplify communication between all team members on a safe platform. GPS tracking apps often come with messaging features, which allow all users to easily and instantly communicate.

  • Send important messages about travel diversions
  • Assign clients and tasks to specific employees
  • Determine which employee is closest to the next assignment, and send them to do the task
  • Employees can communicate with each other, soliciting assistance if needed
  • Enjoy faster response times, saving both time and money

Automate Payroll

If you really want to save time and productivity, automating your payroll is a game-changer. Make handwritten timesheets a thing of the past by switching automation, and avoid both inaccurate data and fraudulent time-keeping.

  • GPS-automated systems ensure that your team is working when they are supposed to be working
  • Clocking in and out is a breeze with automation, showing exactly when an employee is at work and when they are finished for the day
  • Fewer instances of dispute when it comes to paychecks with an accurate time log as backup
  • Make sure employees are not running personal errands or completing other non-work related tasks on company time
  • Easy formats for all team members to control their own time
  • Some payroll features even include automatic OT when an employee goes over their allotted hours, with a message being dispatched to let the employer and employee know
  • Accurate, safe data means that productivity stays as high as possible
  • Quickly and effortlessly export all worked hours for maximum efficiency

Safety and Security

Safety is of highest priority, and the most important benefit of using GPS-enabled tracking.

  • Overall security is greatly enhanced for all staff when you know where every team member is during work hours
  • Help can be located and sent in real-time if one of your team members needs assistance
  • Avoidance of routes that may be delayed due to hazard, overcrowded, or experiencing heavy traffic is a great feature that safeguards employees and management alike  
  • GPS features can re-route travelers on the team to both avoid potential risks and to aid safety

Go the extra mile and ensure that a GPS tracking system is implemented into your business. Get a competitive edge, boost safety, and generate exact time data to improve efficiency in your company.

Time Tracker’s on the clock GPS tracking makes it easy.

  • See which employees are on the clock, on a break, or clocked out for the day
  • Select an employee, and check their activity and locations within a specific time frame
  • Instantly generate maps for location of employees, to verify route and travel information, and safeguard against time theft
  • Send your nearest employees out for emergencies or to the next job, without having to call everyone and await a response
  • Build and maintain trust with the whole team with safeguards in place that benefit everyone
  • Lessen the potential for payroll and billing disputes by having automatically generated reports about all logged time entries

Ready to increase the efficiency and productivity of your business with GPS time tracking features? Get started today with a free, 14-day Time Tracker trial.

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Time Tracking is Essential to Profitability. Here’s How. https://ebillity.com/post/time-tracking-is-essential-to-profitability-heres-how/ Fri, 31 Aug 2018 20:06:16 +0000 https://www.staging6.ebillity.com/?p=3894 Knowing how long a task or project takes helps your business when it comes to creating new projects. The analysis of your time and costs allows you to adjust both accordingly for maximum profitability once you know exactly how every moment is spent. It also gives you the knowledge that you need to boost your profits and improve efficiency within ... Read more "Time Tracking is Essential to Profitability. Here’s How."

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Knowing how long a task or project takes helps your business when it comes to creating new projects. The analysis of your time and costs allows you to adjust both accordingly for maximum profitability once you know exactly how every moment is spent. It also gives you the knowledge that you need to boost your profits and improve efficiency within your company. Time tracking is key to insights about your time management, as well as for productivity and workflow.

When you and your employees track your time, you will have insights into which tasks take up too much time so that you can start to think about what you can adapt for maximum efficiency. You will know what is working and not working, and how to plan for future projects which take these factors into account so that you can streamline your time and money.

Time management is an area most of us struggle with. It must be accurate and reliable. How are you going to implement it in your business, and how will its use benefit your profitability? Here are some of the reasons that time tracking is essential for profitability.

More effective project management. Time tracking helps you to understand where all of your employees’ time is being spent. Which tasks are taking the longest, and which employees could perhaps improve their productivity? If you know exactly how much time is spent on worked hours you’ll be able to easily set estimates and budgets for future projects. If you’ve underestimated the time an employee needs to complete a project in the past, you can adapt when you understand that they may need fifteen more hours for that task. Lost time equals lost money, so understand exactly where your time is going.

Knowing where to cut expenses. Knowing where perhaps too much time might be spent on projects, you also have the ability to cut excess costs. If your time tracking shows that there is an issue with time that has until now gone unnoticed and is affecting your business’s workflow, you will be able to pinpoint exactly where to address any issues. Are some jobs taking longer than they should? Increase your profits by reconciling deficits.

Having more accuracy in billing. Knowing what to charge is such an important part of your business, and tracking your hours down to the minute will be reflected on your client invoices. They need to see a transparent record of all of the services provided to them, and this process will establish trust with customers who will want to retain your services. Time tracking will also allow you to quickly adjust your pricing based on the time it has taken to complete projects. Use your data to help you better clarify profitable and fair pricing for your services.

Expertly process your payroll. Tracking the time in your business makes payroll more efficient. If you know exactly how much time was spent on each task, as well as which employee(s) worked on the project, it will be a breeze to calculate salaries, wages, deductions, and bonuses. Automated timesheets make this process simple, and reduces time writing it all out by hand.

Transparency of profits. The data collected from time tracking will allow you to see costs and profits at all times. These reports will also help with understanding which of your hours went under their estimated time. This means that you can cut costs and make more profit. If your time is billed by the project, this is particularly helpful to your profitability!

Not understanding hidden costs or data which is inaccurate costs your business. Time tracking allows you to organize your business goals by analyzing the data and then reworking plans to enable for more successful and profitable projects in the future.

Take the guesswork out of the time tracking process, and use an automated time tracker which is easy to use, reliable, and accurate. Know precise billable hours, create automatic timesheets, and understand inefficiencies in your business with Time Tracker. Sign up today for our free, 14-day trial. No credit card required, and no hassle. Enjoy the flexibility of tracking time anywhere, from your mobile, tablet, or laptop, and watch your business grow.

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5 Reasons Why You’ll Love Time Tracker https://ebillity.com/post/5-reasons-why-youll-love-time-tracker/ Tue, 24 Apr 2018 16:18:17 +0000 https://www.staging6.ebillity.com/?p=3250 Find out why Time Tracker is a fan favorite! The old adage ‘time is money’ is true for all businesses, but for those who bill by the hour, tracking time accurately is critical to their bottom line. We’ve heard from companies such as Accounting Firms, Law Firms, and Consultancy Firms who all love Time Tracker, eBillity’s time tracking software and ... Read more "5 Reasons Why You’ll Love Time Tracker"

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Find out why Time Tracker is a fan favorite!

The old adage ‘time is money’ is true for all businesses, but for those who bill by the hour, tracking time accurately is critical to their bottom line. We’ve heard from companies such as Accounting Firms, Law Firms, and Consultancy Firms who all love Time Tracker, eBillity’s time tracking software and here’s five reasons why you will too:

1. Keep better track of your payroll

Tracking time for payroll reduces the number of manual errors and lets you avoid the paycheck debate – with Time Tracker employees are responsible for logging their own hours and you can see in real time with employee reporting. It’s easy for employees to over-or under-estimate the amount of time they spend on a task – by using time tracking software, you know you’re only paying for actual time worked and not what’s penciled in on a timesheet.

2. Save hours in admin work

In a 2015 study by Service Now, managers spend an average of 15 hours each work week on administrative tasks. That’s two full days! Time Tracker saves hours of manual data-entry work and eliminates tedious timesheets. Employees track their time on any device – thanks to our handy mobile apps and add-ons – and submit their entries. Admins can review, edit and approve their entries right from their dashboard. Everyone can spend more time doing what they were hired to do and accomplish more in a day.

3. Know more about your business than ever before

No one knows your business better than you, but Time Tracker’s in-depth reporting can give you additional insights to help you make better business decisions. Want to know what clients are making the most profit? Interested to see which employees are racking up the overtime hours? Want to know what tasks are taking up the most hours? Simply run a report to see. You can even save reports and have them run automatically. Your data is securely saved for up to 6 months, so you can easily look back to see who worked when and how long it took – great for future quotes or if you’re forgetful.

4. Easily manage your workforce

It’s not always easy to keep track of everyone on your team, but we’ve built in a few team-friendly features to help you rally the troops! You can assign roles and permissions to employees to control who has access to what information. Assign tasks, send team messages, or remind workers to track their hours – all from your dashboard.

I manage a remote team so keeping track of their hours is time-consuming, but then I found Time Tracker. It’s super easy for my team to use, I can easily access the information I need to make business decisions and I’m now billing accurately!” – Ryann McQuarrie, MD, Bully Design Co.

5. Time Tracker plays well with others

eBillity has partnered with some of the leading names in accounting, expenses, and payroll, including QuickBooks, Xero, ReckonADP, and Sage, as well as some of today’s most innovative web apps, like IFTTT and Amazon Alexa. Time Tracker integrations are designed to make your life easier by syncing with your existing software, not replacing it. Learn more about our integration partners: ebillity.com/integrations.

Try it for yourself

Time tracking software such as Time Tracker helps you to stay on top of billable hours and easily manage your team – saving you time and money. Try it free for 14-days (no credit card required) and see why our customers are raving about Time Tracker.

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