Every business owner knows how critical it is to track employee time Whether it’s to assure expected productivity or that deadlines are met, you put profitability at risk if you don’t. If your staff punch a clock or log time against projects, accurate tracking is the foundation to meeting established goals. Additionally, customer satisfaction relies on delivering projects on time and with responsive service. In fact, 2015 research showed that the U.S. service industry lost approximately $7.4 billion a day in productivity. A Small Business Trends study revealed that companies not using a time management system lost an average of $18,000+ yearly.
A time tracking system may help small businesses to be more efficient and improve communication internally and externally. The ability to track employee time is even more important with so many people working remotely. Using software that allows employees to log time on their phone is essential to saving time and improving productivity.
Furthermore, tracking employee time provides valuable insights into your business. Management can review employee work against assigned tasks to improve processes and reduce costs. This status information reveals any timing or cost issues as work progresses. Being able to identify and minimize inefficiencies sooner rather than later is the difference between a profit or loss and potentially losing a customer.
Labor is usually the highest cost for small businesses. Knowing the exact labor costs per project effects pricing, productivity, and finally profits. However, inaccurate or duplicate data can lead to a misinterpretation – which leads to bad decisions. A tracking and management system that encompasses your entire business functions through one dashboard (like PACManager) is key to accurate data for better project planning and employee supervision.
Want to learn more about how PACManager Process and Cost Management Software can help track employee time?
PACManager starts as low as $1200 per month for unlimited users and we tailor it to your business during setup. Unlike traditional software that can’t change as your business does, PACManager can evolve with it. After all, you want your company to grow. Shouldn’t your management software grow with it? Contact us to discuss how PACManager can help your business.