We mentioned how good time tracking is for your overall business and some of the problems that might be present. Now, let's take it a step further and see how this tool can help you with your clients and general project management. Below, we'll list 6 different aspects of time tracking that will serve as a guideline.
Chances are that in the past you’ve completed the project, and after finishing it, you were paid accordingly. Or you thought they were. The fact is that you probably overlooked some parts of the job that you haven't billed. Stuff like small material, maybe one time utensils and other tools. All those things individually don't mean much. But if you put together all of them, you'll come to a conclusion that you probably didn't bill an enviable amount of money.
As everyone else, you value your time and work, so it comes as an imperative that next time you pay closer attention to the smaller parts of the job in order to bill your work accordingly. Easy time clock software is perfect for this situation, as it will cover everything one job contains. From small details, to large scale activities, don't ever forget about all your work.
Better Understanding of Time Management for Different Clients
If you are a business owner, you probably don’t have just one client. More clients mean more revenue for you and as a plus, it's pretty risky to depend just on one customer. Now, you might find yourself in a situation where you’re involved in a number of projects with different clients and the issue that now arises is how to manage all that work?
All your clients are equal to you, so your attention must be evenly distributed between them. It's very difficult to maintain this on your own, and having an app for recording hours worked would help you out a lot. Luckily, such a tool exists. With time management systems you can focus evenly on all of your projects and distribute the work fairly. Your clients are like your friends. If you neglect one, and hang out with others, the one neglected won't be happy.
Map Every Task of the Project
It’s very important to know exactly which particular activities make up a project. Defining a time frame and sequence for each task isn’t only more transparent, but it also helps your employees with delegation.
Having a good manager helps as well as they are skilled enough to make things work. But, what helps even more is owning staff time management software. With it, you or your manager will have an even easier task and the project will be crystal clear.
Task Time Standardization
This is closely related to the passage above. When you determine exactly all the activities and sub-activities that make up a project, it’s very important to know exactly how long those activities last. First of all because of the duration of the project itself but also for easier organization of time and manpower. As mentioned above, team time tracking software finds its place here as well. From delegating work to knowing the duration of each activity, such software will help you immensely.
Each project has its own budget, and you must make sure you’re staying within the budget lines in order to make a profit. Luckily, a client time tracker can help you keep track of how much money you’ve spent so far.
Thanks to this software you can see how much of the project budget will be moved towards billable hours, materials, sub-contractors, etc. Managing multiple clients, projects and budgets can get pretty stressful in no time, so having a time tracking software which can help with budget management is essential.
Price List Improvement
The amount of money you charge for your services dictates which clients you’ll have. You need to keep an eye on your competition and their pricing. But, more importantly, base your cost in relation to previous projects that you did. If you implement professional time tracking software, information about other projects you did will be right under your fingertips and you should use it smart.
Hopefully, you now know why time tracking is so important for your business, and how it can help you with client and project management. Use it wisely, and make the best out of it.