Benefits Of Time Tracking Tools in Projects — Apptivo

The process of managing projects has a direct impact on the effective functioning of a business. When your projects are operating right, you can be confident that your business is running smoothly. Likewise, using project management software with a time tracking system is a profitable option for measuring the employee working hours and the time spent on a project.

Before that, businesses need to understand the importance of project management with time tracking tools and the consequences of an unorganized project management process. Poor project management results in higher operational costs, loss of deals, wastage of resources, and most importantly, loss of time. Businesses can achieve optimized project management by utilizing the advantage of time tracking tools.

In this blog, we have listed why your project owners need to use a time tracking tool now in the projects.

What is a time tracking tool?

A time tracking tool is software that enables employees and teams to track document the time spent on tasks, milestones, and projects. With this tool, project managers can streamline their project management. The integration of the time tracking app into the project management system helps to organize the project deadline and complete the projects before the deadline.

Advantages of time tracking tools in project management

Track Employee Productive Hours

One of the primary functionality of a time tracking tool is measuring the hours spent by employees on a particular task or activity. A project is a composition of several milestones and tasks. Project managers have to readily assess the time utilized by employees to carry out each task and milestone. It helps to monitor the performance of teams, analyze their current capacity, and reduce their overload by equal distribution of tasks. Furthermore, project managers can adjust the task timing based on the current resource requirement regularly.

Generate Accurate Estimates

When your project managers have a regular process of calculating the project hours of each employee, it turns out to be easy to estimate the billable hours for the same task in future projects. This will prevent inaccurate quoting in projects, and employees can also utilize the time efficiently without any stress. Imagine it takes 12 hours to complete the quality analysis for material checking, and it is a typical process in all your projects. With this information, project managers can quote the billable hours right away in future projects.

Analyze The Process

In project management, the process is very crucial. Often, the best project management software has a detailed process where every action is trackable. This is possible only with the integration of a streamlined time tracking system. When the process is measurable, project managers can effortlessly identify the bottlenecks in the implementation of a project, identify areas of improvement, and remove redundancy in project delivery. With an optimized time tracking tool, project managers can analyze the project management process, understand why a particular team or employee is unable to deliver the expected outcome, and complete the projects before the deadline.

Manage An Efficient Team

A project manager can achieve success when the team members are the right people for the project. An employee can be talented and knowledgeable. But, project managers have to analyze if he is the right person to perform a particular task in the project within the stipulated time. Using time tracking software, project managers can monitor the working hours of teams and reallocate the tasks based on the availability of resources within the teams. By this, project managers can motivate employees to complete tasks quicker, prioritize tasks and deliver increased productivity. The time tracking tool provides a healthy environment for discussion where the project managers can understand the working approach of employees and allocate time accordingly for tasks.

Easy Invoicing

The process of billing the customers for a project turns out to be complicated if no system is in place to measure the employee working hours. Consider your employees have spent more than the allocated time to complete a project. In this case, it is not possible to attest the details unless proper time tracking software is in place. With the time management tool, project managers can track and generate reports on the working hours and convert them automatically to invoices. This invoice is emailed to the customer for further processing. Alternatively, the employees can also receive fair payments based on the data in the timesheets. For every task in the project, employees can create timesheets and submit them for approval. Later, the employees are paid based on the approval.

Wrapping Up

Project management tools like milestone tracking, task management, Gantt charts, and dashboards powered with time tracking elements are what your business needs to never before productivity. While there are multiple time tracking tools available online, the exclusive Timesheets app of Apptivo has all the resources your project managers require to track the project hours and increase profits.