“Time is what we want most, but... what we use worst.” - William Penn (English Writer)
How do you measure the efficiency of your company?
In mechanical terms, efficiency is simply output divided by input. It is universally accepted that the output for any business is its revenue. And input? Is it just about monetary investments? No, you give a lot more to your company than just money. You spend energy, intellect, and time to nurture your idea. But how do you measure them to use them as input?
It is understandable that you cannot use these intangible investments in your accounts to calculate your financial numbers. But that should not stop you from keeping a check on them. Of course, you cannot specifically measure energy and intellect spent, but you can always keep track of time.
Time measures your productivity. When you calculate the size of a project in man-hours, you assume that each man in your company will use his time in a disciplined way. Today, when various big shots and industry leaders are not able to manage their time properly, the expectation of self-discipline from your employees is pretty unreal.
Then the question arises that how can you manage time in your company to make your business more productive? Don’t worry! Technology has found its way to eliminate this problem also. The answer is Time Management Software.
If you are still not sure about time management software in your organization, then just take a look at the following problems and their solutions
» Time and Attendance Frauds
› Challenges : Traditionally, companies used a designated person to log the attendance of other employees on hard paper manually
› Solutions : Time management software will not only keep records of the attendance but will also keep a track of productive hours by your employees. Plus, it gives a feel of not-so-strict office culture when your employees can clock-in and clock-out themselves in the system.
» Implementation of the Attendance policy
› Challenges : Although you have a sophisticated and well-defined absenteeism policy in your company, you are not able to implement it. This is because of the unavailability of standard practices corresponding to attendance recording in your company. Employees tend to take sudden leaves without informing HR. Or, they are not completing the billing hours in the office.
› Solutions : A software implementation can solve all these problems by making it more regular for your business to record time and attendance of your workforce.
» Predict the absenteeism
› Challenges : There are always some high absence and low productivity seasons in any business. It may be due to festivals, holidays, certain events and seasonal nature of work, etc. But you might face problems in managing the workload in these situations.
› Solutions : Time management software can do this for you. Based on the previous years’ data, it can tell you about the possible attendance patterns
» Project Mismanagement
› Challenges : Most of the times project faces quite a lot of mismanagements, such as data handling, reporting, billing, and tracking the delivery.
› Solutions : Time management software provides a way to handle the timesheets. When there is software which helps you in dividing the timesheets according to the project, the billing part gets very easy. It further helps in quick invoice creation. Also, with these kinds of software, it gets convenient for employers to track the task progress and monitoring of resources.
» Multiple Platforms and tools
› Challenges : Companies usually use multiple tools at the workplace for dependent tasks? Skimming through various MS- Excel timesheets, manually sending out reminders through emails, and using separate tools for report creation. All this can be irritating
› Solutions : Certain add-ons and integrations come along with some good time management software which can make your life a lot easier. These add-ons and integrations will make your software an all in one package. It makes them perform all the tasks mentioned above in association with other tools like E-mail, ERP, CRM, Payroll Mgt. System, etc
5 Best Time management software that can help keep track of the specific ways you use your time throughout the day.
1. Dashboard - Provides a clear line of sight across your entire organization’s portfolio.
2. Dynamic Rule Set - For workflow processes that can be customized.
3. Multiple work styles - Supports through seamless integrations with other task management systems.
4. Emails, files, and links can be shared across both internal and external stakeholders
5. Centralized digital proofing and approval process.
Clarizen Delivers Work Management Solutions
• A complete tool for project and task management.
• It can be customized according to your business needs.
• It can handle various tasks from time tracking to report creation as it can be integrated with other tools also
1. Time tracker - Ideal for teams, freelancers & agencies, helps in getting things done.
2. Push Buttons - Push buttons to activate features and simple fill in features.
3. Reporting - Breaks down data and gets information to you.
4. Automated Timesheet management - collects and checks timesheet, and straight away gives you details of the data.
5. Actionable Insights - Gets deep insights, and helps in making an informed decision.
• Toggl is more of an add-on instead of a complete software package.
• It is compatible with the majority of project management systems.
• It is mainly used for time tracking which can be done both online and offline.
• It can handle unlimited projects.
1. Project Management - Helps in tracking how your project performs and what can be the next step.
2. Scheduling and Tracking - Schedule work, meetings, assign tasks, manage the task list, and track actual and billable time.
3. Financial Management - Automate late invoice reminders, Issue sales, prepayment and credit invoices, Keep track, and Compare several budget scenarios.
4. CRM and Quoting - Features to Search, filter and sort your contacts, visual overview of your sales funnel, Compile quotes and send them, and Get a complete overview of your contacts.
5. Reporting - Detailed overview of billable and non-billable work, keep eye on actionable items, and get detailed financial reports.
• Scoro is also one of the successful project management systems.
• It also combines time management with CRM and ERP.
• It helps you in managing your sales, tasks, and employees at a single place.
1. Activity Feed
2. Email bridge
3. Get notifications and reminders
4. Multiple workspaces
5. Add assignees, attachments, and hearts to tasks
6. Create custom calendars and views
7. Automatic updates to email/inbox
8. My Tasks list and Focus Mode
9. Track tasks and add followers
10. iPhone support, HTML5 mobile site
• An economical but effective tool.
• Asana is very useful for small teams.
• A very user-friendly project management system with file storage facility.
• It is an unmatchable tool for simple projects.
1. One-Click Visual Time Tracking
2. Graphical timesheet
3. Mobile/desktop apps
4. Automatic time tracking
5. Trello integration
7. Estimates vs Actuals
8. Calendar Integration
• Timecamp is also one of the basic tools.
• It is mostly used to track time and create bills.
• It can make your financials simpler in terms of monetary calculations w.r.t time.
• It helps in profitability measurement and payroll management.
There are numerous sayings, proverbs, and quotes which highlight the importance of time. These phrases consistently try to remind us that every second of our life should be meaningful. In the corporate world, the significance of time increases multifold times because it is a race. The winner is the one who covers the maximum distance in minimum time. Therefore, if you want to win your corporate race, you cannot afford to waste your time.
As a project manager, if you are not planning your time well. Or your employees have found some loopholes in your time tracking processes. Or the culture of your organization is not encouraging enough to keep the tasks on time. You should start your research for a professional software development company who can develop good time management software that can not only satisfy the special needs of your business, but also make every man-hour spent in your office more productive.