It is important to have the right tools when you own a business. This includes software or online tools as well. One important tool is owning a time tracking app. It will help you manage your time and your labor for your employees.
Managing labor can be difficult and tracking your labor costs is important. This is why hourly employees punch in and out on a time clock. Punching in and out is essential because it provides the required documentation for your hourly employees to get paid. But, there are easier methods than punching in and out. Your time tracking software eliminates a lot of hassle for you and your employees.
By using the best time clock apps, you will find managing your day-to-day business and your employees will improve.
Why is this time tracking app necessary for your business?
- It is cloud-based.
What does information stored on the cloud mean? Cloud computing is a type of computing that relies on shared computing resources rather than having local servers or personal devices to handle applications. Cloud computing takes services and moves them outside an organization’s firewall and puts them on the Web. Applications, storage, and other services are accessed via the Web.
A time tracking app stores all information in the cloud so you and your employees may access it anytime. You can use the app whether you have an iPhone or Android. Also, you can have a different phone from your employees and all the information and tools are the same.
- It prevents time theft and buddy punching.
According to research, time theft can cost companies 7% of profits. It is estimated that over 75% of companies lose money from buddy punching. What is buddy punching? Instead of your employees clocking their actual time in or out, they have a buddy clock in or out for them. It may be because they are running a few minutes late or they forgot to clock out. Stealing time can be a huge loss to any business, but a small business can suffer more. By using a time tracking app, your employees will not be able to have a co-worker clock in for them.
- You can locate your employee’s location with GPS.
Once your employee clocks in, you can verify they are at the job location with GPS located on the time tracking app. This is another feature that prevents time theft. You will know exactly where people are by looking at your phone or computer. Also, this helps you estimate time completion for projects as well. You will know who is out for the day and who is at each location. You never have to wonder if someone showed up on time or if they are on the job site. Using a time tracking app takes out the guesswork of where your employees are and help you know exactly what you need to know.
- Your employees can clock in and out anywhere.
Your employees don’t need to go to the main office and clock in or out. They simply pull up their time tracking app and clock in or out. Also, if they use paper timesheets and turn them in, they can no longer view their information. A time tracking app keeps all the information stored in one place. They can view their information and you can view their punches from anywhere. Best of all, it will help you ensure you are following hourly laws when it comes to time tracking and you are paying overtime when necessary.
- It supports online scheduling.
You can put your employees’ schedules on the app and they can see what time they need to be on the Jobsite the next day. This helps you manage your labor better. It makes scheduling easier and you can easily change schedules if needed. Your employees can quickly check their schedules before they go to the job site in case anything changes.
- You can ensure correct information is billed to your customers.
If you are currently managing schedules by paper or just by memory, you may not be getting all the accurate information you need to bill your customers. You may be shorting yourself money. By using a time tracking app, you can manage your projects, who is there, and the time spent at the location. You will ensure invoices you send to your customers are correct. If you must provide documentation to your customers, the information is stored so you can easily download a report to send to that customer.
- You save time and money.
Having a time tracking app saves many dollars you spend. No one needs to drive to collect time cards or turn them in. This saves time and fuel costs. You don’t have to buy time cards or a time clock. You don’t have to spend the extra time calculating hours worked or where people are working. You know who is clocking in and out. This all adds up to extra dollars saved. Your life becomes much easier when you don’t have to spend unnecessary time and money because you can now do things on your phone and computer.
Tony Robbins, who is an American author, entrepreneur, and life coach says, “Once you have mastered time, you will understand how true it is that most people overestimate what they can accomplish in a year – and underestimate what they can achieve in a decade!”
Time management is essential for any small business owner. Once you lose time, you can never get it back. By using good time management skills, you should be able to manage your day effectively. Using a time tracking app is a very important tool you can use to help you with time management. You will eliminate many unnecessary tasks.
In summary, watching labor costs and managing time correctly saves you time and money. One of the biggest problems for industries is workers who forget to clock in or out. They may forget to turn in their timesheets or you may not get the necessary information you need to pay them. By using a precise time tracking app and having the GPS location verification at your fingertips, it’s easy to see which employees are on time, late to work, leave early, or don’t show up at all.
By getting a time tracking app for your business, you will be able to manage everyone’s time better. This will help you run your business better and provide more precise information.