Efficient time tracking systems for small businesses (SME) – What you need to consider before buying?
As a small business, the implementation of a time tracking system may not have been on your agenda until now. After all, there are more important things that demand your attention like working in new projects or coordinating the smooth completion of all orders. The list of tasks to be completed is long. But are you aware that a time tracking system can help you to focus in what really matters?
Especially as a small business, you can benefit tremendously from implementing an electronic time and attendance system. Especially since there is already a wide variety of digital solutions available today that ideally cover the requirements of smaller companies in particular, completely without the need for accessories.
Today, SME companies have great options at their disposal that allow professional time tracking using a software just like in a large company. And all this at reasonable prices and with a wide range of options, e.g. time recording systems that can be payed on a monthly basis.
1) Why time tracking is absolutely necessary for small businesses
In some countries companies are legally obliged to record employees working times. Apart from the fact that legal obligations have to be fulfilled, the economic advantages for small and medium-sized enterprises are a compelling argument for the introduction of digital time tracking.
Digital time tracking allows you billing and monitoring at the push of a button, see it for yourself!
2) Benefits of a good time tracking system for small businesses
How many hours have been invested in a particular project or customer? How much of that time can I charge? Where can I optimize work processes? All these questions, which are crucial for SMEs, are answered quickly and easily using the right time tracking tool.
A proper time recording system ensures you keep track of everything and don’t have to run after employees to collect tons of paper. It also saves you the hassle of digitalizing records on paper. For liquidity reasons, this is especially important for small and medium-sized businesses, which can invoice their customers for services provided more quickly.
In addition, you also need to spend quite some time calculating hours at the end of the month, so recording work and project times in advance and accurately is not a bad idea. With an electronic time recording system, this can be done much more efficiently than with Excel spreadsheets.
In addition, choosing a good time recording software is key, because it will show a company’s professionalism to its customers. If a customer receives a proper invoice generated by the system, showing exactly what he is paying for and what service has been provided, your customer will certainly appreciate it. And he will certainly be happier about it than about a handwritten invoice that may be illegible.
3) Requirements for optimal time tracking software for SMEs – what you need to know before you buy
So there are many good reasons why you should record your time and choosing the right tool is equally important.
Depending on the industry, company size, etc., the requirements for a time tracking may system differ, as there are different needs and specifications. Basically, however, the following features, among others, are essential for smaller companies:
- A clear structure: Small companies in particular have limited personnel resources for managing a time recording system. Usually the CEO or an employee that is responsable for many other task has to take over and manage the attendance system. A good time recording system offers a clear structure that enables fast and efficient work.
- Simple to use: Recording working time should take as little time as possible. To achieve this, you need to be able to record your times quickly and easily. Simple operation is therefore an absolute must.
- Mobile availability: In many industries, employees of small companies are out on the road and working with customers every day. Make sure your time tracking system has a reliable App to record your times anywhere.
- Fast evaluation of the data: Time recording makes sense specially if you also get something economic benefit out of it. For example, if accurate time recording helps you to invoice quickly and accurately or optimize work processes. An optimal time recording solution therefore offers small businesses the possibility to quickly evaluate and process all data.
In addition, it is of course also an advantage if no large investments are necessary – such as purchase your own time tracking devices or other accessories. Compared to time recording systems that require extra equipment, digital systems are a relatively inexpensive time tracking solution.
A digital time tracking system like timr is the ideal solution to save time and money. You can record your working hours quickly and easily – even on the go on your own smartphone (also Offline). As an employer, you manage all data centrally in the web application from your office and have daily updated reports available. You can bill your customer quickly for your services.
4) Less paperwork with digital working time recording
As a small business, you want to keep the resources required for time tracking and payroll accounting as low as possible. All times should be recorded quickly and easily, even while on the road. As an executive, you don’t want to be running after your employees to write down worked hours. On the other hand, your accounting department wants a clear and concise list of all working hours, to do the payroll calculation as quick an easy as possible.
An online time tracking system like timr makes exactly that possible.
Attendance time, vacation or sick leave are recorded via app on the smartphone, even offline.
As a manager, you have an insight into all times recorded in the web application at any time. In the live view, you can even see in real time who currently is working and on what.
The hours and vacation account is automatically calculated based on the individual target time per week. Automatic break models, holiday calendars and an automatic validation function relieve you from additional control tasks.
You accounting department can create the timesheet at the push of a button. This is automatically saved as a PDF version and can be downloaded at any time – even by the employees themselves.
5) Leave management for SMEs – Simple leave planning
A simple and functional vacation planner will take a lot of work off your shoulders and help you save administrative hassle. There are still many small businesses that plan their employees’ vacation on paper and without a visual calendar .
A complete time tracking software should also include vacation management.
Ideally, your employees can use this tool to submit vacation requests from anywhere. This is especially important for companies with workers who are not in the office all the time.
Eliminating paperwork is also an important issue. Currently, if employees have to apply for vacation using paper, it means a lot of paper usage and more work for administration. With timr, your employees can submit a vacation request with just a few clicks, and as the administrator, you will receive a notification so you are always up to date.
Finally, the most important feature that every good vacation planner should have – a calendar view. This makes vacation planning easier and improves the organization of the company.
6) Accurate time recording of tasks – Invoice your customer precisely
Work time recording is especially important for small businesses. You don’t want to charge your customer by the thumb, but for the actual work you’ve done. This makes it even more important to have a proper time tracking system, a system that saves you time and is as accurate as possible.
Time tracking software offers many advantages here. With timr’s online time tracking, for example, you can create a structure that fits your company, create your own projects or tasks for your customers.
The time is recorded directly on site using the app on your smartphone, even offline. The app is automatically synchronized with the web application in the background when there is network reception or an active WLAN connection.
As an administrator, you have a real-time overview of who is currently working on what in the web application. GPS location tracking is also available as an option, making it easier for you to schedule customer orders. It also gives you a reliable record for the customer.
With reports and analytics at the touch of a button, you always have a proof of how much time has already been invested in a task.
7) Time clock app for SMEs – time tracking is not that complicated
Time tracking with a digital time clock is much more cost-effective and efficient for small businesses than, for example, time recording with an RFID chip. It is also possible to record times while on the road without an additional device, which means you don´t have to expend extra money. Your employees can simply install a time recording app directly on their own smartphone.
In addition, you have the advantage that not only you as a supervisor, but also the employees themselves can see at any time how many hours have already been worked and how many hours still need to be worked. Ultimately, this also increases employee satisfaction.
