Picture this: You’re juggling several tasks at your small business, and despite the long hours, key projects are falling behind schedule. Amid this chaos, you realize that a significant part of the problem is inefficient time management and a lack of understanding of where the time is going. This is a common predicament in many businesses, often arising from the absence of an efficient time tracking system.
With a plethora of time tracking tools for businesses available, choosing the right one can feel like looking for a needle in a haystack. But don’t worry, we’ve done the legwork for you! In 2023, one software stands out as a leading time tracker for small businesses, and we’re excited to share this discovery with you.
In this article, we’ll reveal one of the top time tracking solutions available today. We’ll guide you through transitioning from manual or no tracking to an automated, efficient system that can transform your business operations.
We’ll discuss the following:
- The Benefits of Tracking Your Time
- Understanding the Different Types of Time Trackers
- Features to Look for in a Time Tracker
- How to Choose the Right One for Your Business
- Why It’s Important for Your Business to Track Time
- Tips on Implementing a New Time Tracking System at Your Company
- Best Time Tracking Software for Small Business
- Wrapping Up: Automate Time Tracking for Your Small Business for Enhanced Profitability
Discover why leaping automated time tracking could be one of the best decisions you make for your small business.
The Benefits of Tracking Your Time
Time tracking is handy for many reasons – not just calculating the payroll at the end of the week. Let’s take a look at some of the key benefits:
It Helps Monitor Employees
Tracking time helps you monitor your employees to ensure they stay on task and work efficiently. This will keep them from spending too much time researching a topic or browsing social media sites, saving your company money in the long run.
It Can Help You Manage Projects
Time tracking can also help track the progress of different tasks and monitor how long they take. Progress tracking allows managers to understand precisely where employees stand with their workloads, which is essential for reviews or paychecks.
It Helps Improve Productivity
Managers using a time tracker can see how long their employees take to complete different tasks. This will allow managers to work with the team on improving productivity and increasing output by setting goals for achieving projects in less time.
It Helps Managers See Where Their Team Is Getting Stuck
Another benefit that comes with tracking work hours is being able to identify any trends across the workday. If your employees struggle with the same tasks every week, it might be time to look into training or hiring someone more experienced.
Understanding the Different Types of Time Trackers
Time trackers have evolved to cater to different needs and business structures, making it essential to understand their varied types to find the perfect fit for your business. Here are a few types you might come across:
- Automated time trackers: These tools automatically track time spent on tasks and projects without requiring manual input. They can provide detailed insights into how work hours are being utilized.
- Manual time trackers: These are the traditional time trackers where users manually input the time they’ve spent on various tasks. They offer more control but require diligent time-keeping habits.
- Project-based time trackers: These trackers allow you to track time spent on different projects or tasks within a project. They’re beneficial for businesses that handle multiple projects concurrently.
- Employee monitoring tools: These trackers track time and employee activities during work hours. They can include screenshot capturing, URL tracking, and application usage monitoring.
- Time and billing trackers: Ideal for businesses that bill clients by the hour, these trackers help you accurately track billable hours, create invoices, and even manage payments.
- Task-based time trackers: These allow you to track time spent on individual tasks, making them perfect for improving productivity and identifying time-consuming tasks.
Features to Look for in a Time Tracker
When scouting for the perfect time tracker, knowing which features will bring the most value to your small business is crucial. Here are some key aspects to consider:
- Intuitiveness: A time tracker that’s straightforward and user-friendly will require less training time and promote a smoother transition for your team.
- Automatic time capture: A tool automatically logs work hours can significantly reduce manual efforts and human errors, boosting overall efficiency.
- In-depth analytics: Look for a solution that offers comprehensive reports and analytics to provide valuable insights into your team’s work patterns and productivity.
- Compatibility: The software should play well with other tools in your tech stack. Integration with project management, billing, and other software can streamline your processes.
- Live monitoring: Real-time tracking can give you a snapshot of ongoing tasks at any moment, fostering better management and transparency.
- Growth-friendly: Choose a tool that can scale with your business, handling more complexity as your team expands.
- Customizability: The ability to tweak the software to fit your business’s unique needs can lead to more tailored and efficient usage.
- Data protection: With sensitive time-related data at stake, your chosen software must have robust security protocols.
- Stellar customer service: A responsive and helpful support team can be a lifesaver when you encounter technical hitches or need guidance.
By zeroing in on these features, you can ensure you’re picking a time tracker that not only fits your current needs but also has the potential to drive your small business’s productivity to new heights.
How to Choose the Right One for Your Business
Many companies are turning to time tracking software, but some apps will work better for you. Each tool has different strengths and weaknesses, so managers should understand how each one works before making an investment.
Determine Which Features You Need
Before you choose a tool, it’s important to understand what your business needs. You should carefully think about what features you need before making a purchase. For example, managers looking for something everyone can use might want to consider an option like Hubstaff or TSheets.
Learn How Each Option Works
As you browse, you should research each tool to understand exactly how it operates and what a manager needs to do before their employees can use it. Learning about the features of the system you are interested in can help you decide if buying it will be worth your while.
Explore the Different Types of Tracking Programs
As aforementioned, only some apps are going to suit your business. Some focus on task-based time, while others track employees’ locations and can even send reminders to start a new project or finish an old one.
Use your information about different software programs to determine what features would benefit your business. You can then start purchasing time tracking software or hiring someone to help.
Choose According to Your Workforce Setup
Some apps are better for small businesses that have a handful of employees. In contrast, others will benefit larger companies with hundreds or thousands of workers who need to track their time from different locations and on the go.
To find the right option, managers should think about how many people work in their office and what types of tools they are already using. Some time trackers will work better with other programs and apps, while others might not integrate well at all.
Why It’s Important for Your Business to Track Time
Tracking time at work is one of the best ways to improve output and get more done. Not only will managers better understand where their team members are struggling, but they’ll also be able to see which employees spend too much time on tasks that aren’t important for their 2023 business goals.
As a manager or business owner, it can help help you to analyze, manage, and improve the following aspects:
Project and Program Budgets
Budgets can be challenging to manage in small businesses, but this is where time tracking software comes to the rescue! If you’re spending too much on a specific task or project, managers can see exactly where it’s all going and make changes to save more funds.
This is one of the most important reasons to track time in your business. If you’re not utilizing every employee to their maximum potential, you may miss out on better productivity and more significant profit margins.
Underutilized employees may be able to handle more work or take on additional projects to help with revenue growth; left undiscovered, however, their potential goes to waste. Tracking time can help you determine which employees work at maximum capacity and who might need more support.
Tracking time can help determine the maximum time each team member can work on a given day. This is important when you have deadlines to meet and ensure everyone has enough hours to complete the job.
Tracking time can help managers determine the billability rate for each employee. This is important, as it’s not always possible to meet deadlines. Managers might have slower employees at specific periods than others, depending on the tasks and projects they are working on.
If your business provides clients with more services than they need, it’s time to look at the hours you spend on each project. Tracking spent time can help managers understand where their team members are over-servicing and which tasks might not be worth the investment.
Tips on Implementing a New Time Tracking System at Your Company
Implementing a new system can be difficult. However, there are a few steps you can take to ensure the process goes as smoothly as possible.
Explain to Employees How to Use the Software
The first thing to do when implementing a new system is to make your employees aware. Explain how the software works, mainly how they can use it. If they’re familiar with other time tracking software or apps, compare and contrast the different features.
Where possible, give background on what led to the decision — for example, perhaps you were losing time on projects or wanted to calculate bonuses. This will get everyone on board with your overarching goals for the new system.
Clearly State That Tracking Time Is Obligatory
Make it known that moving to the new system is not optional, and employees must track their time for all tasks. If you’re using a program that has an app, you can set up regular notifications that remind employees to enter their hours for the day.
Train Team Members With Specific Instructions
Managers must know how to use this software before training their employees. Training should be done in person to ensure that everyone has the same knowledge about the system.
Then, you can send specific instructions through email or even schedule a webinar for your team members if necessary.
Best Time Tracking Software for Small Business
Time tracking is a lot easier with modern software. Once you get rid of manual timesheets, it will become far easier for employees to stay organized and productive.
Once you find a time tracking software that works for your business, employees won’t have to waste more time on manual processes. Managers can quickly check what each team member is working on without asking them directly. The whole team will be motivated by the upward progress and improvements they see.
As a small business owner, you need an effective and efficient time tracking solution tailored to meet your specific business’s needs. There are many solutions out there. Here’s a look at the best time tracking software for small businesses in 2023:
1. Day.io – Overall, the Best Time Tracking Software for Small Business
Day.io helps businesses track their time with a simple, intuitive solution that works on all devices. It is a time tracking application that allows you to create schedules for your employees and sync their time across devices. Moreover, it helps you keep track of all the time spent on specific tasks throughout an organization.
Day.io also offers AI facial recognition, a touchless clock in, and vacation management time tracking features. This handy software provides great features at an affordable price – it’s one of the best time tracking apps available.
- Comprehensive project reports, making it easier for business managers to get insights
- Time tracking with biometric and GPS authentication measures
- Easy and intuitive time clock, compatible with mobile devices and platforms
- Drag-and-drop interface for employee shift scheduling
- Digital signature management and cloud storage with strong security protocols
- Overtime and extra hours application and approval process
- Detailed cost and billing reports and analysis
- Customizable timesheets for convenient payroll management and automation
- Quick integration with various accounting, project management, and ERP solutions
Day.io offers flexible pricing plans tailored to your business’s size and needs. Its free tier supports up to 5 seats and includes features such as cross-platform time tracking, an advanced timesheet manager, native integrations, and project profitability.
Pro is priced at $6/seat/month for more functionality with additional features such as real-time reports. Enterprise takes it further with unlimited seats, single sign-on (SSO), premium integrations, an SLA agreement, and dedicated support – all at 15% off when you subscribe annually instead of monthly!
Not sure what plan is right for you? Day.io’s team is standing by to help.
2. Monday – An All-in-one Solution for Small Business Time Tracking and Project Management
Monday is a comprehensive platform beyond time tracking, offering project management tools tailored for small businesses. Its time tracking feature allows you to record the time spent on various tasks, making it easier for team members to account for their hours and for managers to monitor progress. The platform is intuitive and flexible, making adapting to your specific business processes a breeze.
With Monday, time tracking, task management, and project monitoring come together in a unified, user-friendly interface. It’s an all-in-one solution that offers more than just a time tracker—it’s a productivity powerhouse.
- User-friendly interface that makes time tracking and project management simple
- Detailed time reports helping analyze productivity and improve resource allocation
- Integration with popular tools like Google Calendar, Excel, and Trello
- Visual project timelines and Gantt charts for effective project tracking
- Automation capabilities to eliminate repetitive tasks
- Customizable workflow templates
- Advanced search and filtering for easy access to critical project details
- Secure data protection protocols to ensure your business information stays safe
Monday.com provides various pricing tiers to cater to different business needs:
- The Free plan supports up to 2 team members and includes essential features like 3 boards, unlimited docs, and 200+ templates.
- The Basic plan, at $8 per seat/month, adds unlimited items and viewers, 5GB storage, and customer support.
- The Standard plan, at $10 per seat/month, introduces timeline & Gantt views, guest access, 250 monthly automation and integrations, and more comprehensive dashboards.
- The Pro plan, priced at $16 per seat/month, offers advanced features like private boards, time tracking, and significantly increased automation and integration limits.
3. FreshBooks – Small Business Time Tracking and Accounting Solution
FreshBooks brings time tracking and accounting together under one platform. Designed for small businesses, this tool makes tracking time spent on client projects, managing invoices, and handling other accounting tasks easy. With FreshBooks, you can turn billable time into professional invoices in a matter of clicks.
The platform is easy to use, enabling small businesses to handle their accounting easily and precisely. It’s a time tracking tool that keeps your team organized and helps you manage your finances more effectively.
- Easy-to-use time tracking for individual tasks and projects
- Seamless conversion of billable hours into invoices
- Expense tracking to keep an eye on your spending
- Integration with popular payment gateways for easy invoicing and payment processing
- Customizable invoice templates to match your brand
- Financial reports for comprehensive insights into your business’s financial health
- Secure cloud storage for all your financial data
- Mobile app for time tracking and invoicing on the go
FreshBooks recommend the following plans for small businesses:
- Plus: $15 per user/month, recommended for small businesses with independent contractors
- Premium: $27.50 per user/month, recommended for small businesses with employees
Wrapping Up: Automate Time Tracking for Your Small Business for Enhanced Profitability
Embracing an automated time keeping system for small business can be a game changer. It simplifies administrative tasks and offers vital insights into workflow efficiencies.
Day.io stands out as the best timekeeping software for small business among various time tracking solutions. Its simplicity, robust features and attractive pricing eliminates the need for daily timesheet entries, liberating your team from concentrating on their core tasks.
Be sure to streamline your business operations. Start your time tracking journey with Day.io today. Every minute saved is a minute earned. Witness the transformative power of efficient time tracking and watch your profitability soar. Leap with Day.io, and prepare to be amazed by the results.