Think You Don’t Need to Use Timesheets? Think Again!
Most businesses realize the need to track their time, especially if they work with multiple projects and stringent deadlines at a time. Organizing their time and ensuring that every action has its own slot is crucial to getting things done on time, and in order for the business to run smoothly. While most businesses realize the need to track time, there isn’t much consensus about how the deed should be done. Many people think that timesheets should be done the traditional way: having an actual “sheet” do the rounds with workers who are supposed to fill these papers out.
Research done by the Harvard Business Reviews shows, however, that workers are pretty bad at filling out timesheets—and there’s a lot at stake.
The Problem with Using a Conventional Timesheet
While it might appear that letting employees fill out either a hardcopy or a softcopy of these sheets multiple times in a single day lets them have some agency, the truth is far from it. Having to stop work from time to time, and having to scrutinize their work progress only to fill in these sheets can be very counterproductive. It’s also something that distracts employees from their work and can even, at times, feel like an intrusion.
Counterintuitive and almost destructive, conventional timesheets have a more streamlined alternative in web-based solutions. And these web-based solutions can change the fabric of time tracking.
Timesheets are a great facilitator when it comes to billing your clients by making it easier to track of the time that’s being spent on client-related tasks.
The time your team spends on a project and on different aspects of it can be divided into internal and external labor, administrative tasks, and so on. Knowing the project costs helps identify when a project is no longer profitable. And of course, you’ll know how much the project cost you, allowing you to have a better understanding of similar future projects.
Since timesheets help you track the time you spend roughly on various tasks, you’ll have the opportunity to streamline your HR resources better. Efficient future planning is only a step ahead.
Perhaps the most lucrative benefit of using timesheets is that you’ll have a considerably good estimate of all that your team spends time and money on. You’ll know which projects are the most profitable, which clients are the most lenient, and which deadlines the strictest. Based on this loop of information, you’ll be able to plan better for the future.
Whatever time is not being spent doing something creative is unproductive: this includes everything from annual leaves to administrative tasks. Of course, this is a part of your business that’s necessary—but that doesn’t mean you can’t put this information to good use. By having a good measure of unproductive time you can organize your workload better. You’ll also know which administrative tasks you need to cut down on, and so forth.
Get the Timebeans Timesheet
Timebeans is an online time and expense tracking software that allows you to track time, expenses, billing, and more in an expert manner. Get in touch with them today to get your time tracking in order—give them a call at +1 214 329 9086.