There are many ways to track time, some more efficient than others. How do you decide which is best for you? In this article, we will suggest our top five methods of time tracking, explain their benefits, compare them, and help you find the most suitable option.
Some believe that time tracking is a waste of money and resources. We, however, are convinced that it is a vital part of every project. Not only does it allow you to bill your clients and fairly compensate your workers, but it can also improve the quality of your work. From better forecasting to more accurate delivery, time tracking is highly advantageous for projects. It can reveal opportunities you never knew existed.
However, there are many ways to track time, and some are either outdated or simply not suitable for your business. How can you avoid accidentally adopting these methods and potentially hindering your progress? Don’t worry, we’ve compiled a list of the best time tracking methods - feel free to use it!
Is It Worth Tracking Time?
Yes. Time tracking is extremely beneficial for both standalone projects and your entire business. It provides a centralised view of your team’s time expenditure, potential gaps in your strategy, and areas where the process could be sped up or improved.
While effective time tracking methods may require some investment, they offer substantial returns in multiple areas. Furthermore, when you track time to improve your processes, there is no limit to how much you can optimise. It is an ongoing cycle based on observing the results, analysing the changes, and implementing new approaches. In other words, by investing in time tracking once, you unlock limitless opportunities to refine your business.
Top 5 Methods to Track Time
While we base this list solely on our expertise and industry knowledge, we are very confident about it. We believe these solutions are currently the most beneficial for businesses, regardless of the industry they operate in. Additionally, they are all available at various price points, meaning every company has a chance to acquire the tool they need.
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Digital Timesheets
One of the oldest methods for tracking time is through timesheets. However, as we have entered a digital era, paper timesheets have become widespread and impractical. Many companies have switched to spreadsheets since then, but even that approach is no longer suitable for today’s fast pace and data volumes. It’s time to revive the traditional method, but in a modern way.
Digital timesheets function similarly to their paper equivalents. Your workers simply record the start and end times of their shifts. However, unlike traditional methods, digital timesheets can be customised with rules that limit the number of hours. They also eliminate the need to manually calculate pay based on hours - very handy for managing different rates!
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Desktop Time Trackers
If your company provides digital services, a useful solution could be a desk tip time tracker. It is particularly easy for employees to use, as all they need to do is select the task they are working on and then set the timer. Once they are finished or switch to a different task, they can either stop the timer with a click or using designated hotkeys. The setup is slightly more complex, as you will need to determine the structure you will maintain long term and that will be effective in reports.
The main issue with these types of trackers is that, sometimes, employees may forget to turn them off and leave them running longer than intended. Or, they might accidentally track time for a different task that is billed differently. Before you commit to desktop time trackers, you will need to do some preparation work, including setup and staff training.
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Timesheet Software with Integrations
There are many options for timesheet software on the market, including free-to-use tools. However, these will only cover the basics and offer limited usability. You'll also need to accept that they may be disconnected from your other digital solutions. Depending on your goals, this might not be an issue. Nevertheless, we believe that if you want to get the most out of time tracking, you'll need to invest in a solution that integrates with your existing stack.
The reason for this is simple. An integrated time tracker will not only monitor the time spent on tasks, but also the time used with other tools, pulling data from them into various calculations. In some cases, this might mean employees don’t need to input any data; their time is recorded automatically based on their interactions with the integrated platforms. Additionally, linking tools together grants access to data that would otherwise be unavailable.
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Document Sharing Platform
It may sound odd, but an online document-sharing platform is also an excellent tool for tracking time. These platforms generally provide visibility of when documents were created, uploaded, or edited. Additionally, you can monitor changes made, who made them, and the precise time they were made.
There are many reasons to use a document-sharing platform initially, but from a time tracking standpoint, it is truly a treasure trove of data. It is especially useful when assessing timeframes for processes such as handovers, proofing, or client response times. Overall, think creatively and you might discover a lot of valuable information!
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Project-Based Time Tracking
If your company manages multiple projects and has the same workers spreading across them it would make sense to count time based on a project. This way you would be making sure you bill each client correctly and significantly reduce potential human error. Not to mention, it’s easier to analyse your data when it's segmented in accordance with projects.
When the tool is specifically developed for project management, it offers more than just time tracking. It can help you calculate varying rates for both temporary and permanent workers, allocate your resources more efficiently, and handle more projects at the same time without compromising on quality.
Summary
Time tracking is an excellent tool for improving your project delivery, with no limit to how much you can optimise the process. However, the market is flooded with various solutions, and some are now outdated. While having some form of system in place is better than none, you risk stunting your growth by settling for a lesser option. We have examined the five best methods of time tracking currently available, and while they all differ, they share one characteristic: they are digital.
Ultimately, as long as the process is digitised, it is already likely to be useful to you. Digital tools collect data as you use them, which can help you tailor future projects to be more efficient. The format, additional modules, and the overall look of the platform, however, should be chosen according to your goals and team structure. No matter how unique your needs are, rest assured - there is definitely an option for you!
It might be Timesheet Portal. Give it a try.