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Workload Management And Its Tools

Consider how productive you could be if you had three extra hours in the day. What would you do if you had 180 minutes at your disposal? What if we told you that with some tools, you could gain 3 hours per employee per week in productivity? So, Workload management solutions can assist make your team more collaborative regardless of a team of any size, on-site or remote.

WHAT IS WORKLOAD MANAGEMENT?

As we know, every team consists of individuals with varying talents, interests, and capabilities.

Workload management refers to the process of assigning work among team members and tracking their capacity over time. The purpose of workload management is to ensure that everybody’s work is delivered on time. On the other hand, maintaining a healthy balance in terms of the amount of work that each team member is responsible for, by using time tracking software.

Hence, workload management makes sure your employees don’t burn out and feel exhausted.

WHAT ARE WORKLOAD MANAGEMENT TOOLS?

Team workload management solutions are techniques and tools that help divide a fair quantity of work among team members. Managers and team members can delegate tasks to other employees they are working with and monitor their progress using time and project tracking software.

However, this perspective may not be critical to the day-to-day management of your team’s workload. But knowing how everyone is performing and who may need to be ramped up or down at a moment is beneficial knowledge to have.

HOW TO MANAGE WORKLOAD SUCCESSFULLY? SOME USEFUL TIPS:

Following are some of the beneficial tips for distributing tasks and projects among different team members in an efficient way to bring out maximum employee productivity.

1) PRACTICE THE RIGHT WORKLOAD MANAGEMENT TOOL

Keeping track of your team’s workload isn’t always easy. Your team may be operating remotely and in different time zones. Alternatively, you could be in charge of a diversified workforce with varying skill sets and accessibility.

So, How may task management be made more efficient? Here are four pointers to help you get started:

Several views of your team’s work

Allocation of resources

Routine tasks can be automated.

Syncing and connections with time tracking apps.

2) PRIORITIZE TASKS

 Now it’s time to be productive, once you’ve joined up for your preferred Work. Every project should be broken down into smaller, more achievable jobs. Moreover, to prioritize tasks efficiently, ask yourself these questions;

1) What are the tasks on your to-do list?

2) What is significant and what is urgent?

3) What is the most effective method for delegating pending tasks?

4) Which tasks are time-consuming?

By answering these questions and entering the information into the software, you may organize your tasks.

3) APPRECIATE YOUR TEAM AND RESOURCES

Employees and anything else you’ll need to finish tasks are part of your company’s resources. For instance, equipment, meeting spaces, company vehicles, and devices could all fall under this category. However, keeping track of your team’s requirements and assigning physical resources can be a challenge. 

4) LOOK AT THE BROADER VIEW:

Fortunately, by looking at the bigger picture, you can win every competition. A proper understanding of what the future outcome would be like helps you avoid the complications that can delay your project. You can get ahead of the competition by tracking every detail of a project. Also, plan workloads and schedules based on established commitments. Knowing what’s coming up next allows you to assign duties ahead of time and alert your team to future tasks.

This is especially useful for freelancers and remote professionals that work every month.  In this type of work setting, you can change your perspectives to see everything and evaluate the progress by viewing timelines and timesheet reports.

5) BE ADAPTABLE

Employees aren’t machines. Hence little setbacks in your company, like late equipment deliveries, can throw your well-planned workloads into disarray. Projects can change over time and tasks can be more difficult than you anticipated. In addition, making sure that your employees are maintaining a proper work-life balance is essential when you want maximum productivity. They shouldn’t be overwhelmed to give their best at work. Extreme workload and poor workload management can minimize their enthusiasm and passion for their work, as proved by several pieces of research.

To overcome this, proper time management software makes it simple to manage workloads.

We’ve already discussed what makes a good workload management tool and how the correct software may help you streamline your processes. Now you can evaluate your staff’s workload and responsibilities better to maintain the productive stability of your team.

Leave Management And Its Importance

Employee leave management (or time-off management) involves the methods and policies of dealing with worker time-off requests, such as vacation, holidays, sick leave, and parental leave. Leave management is one of the major elements of the HR department’s duties, which is a small task but requires a substantial part of administrative time. Even though it requires little time, it is a very delicate process that needs balance. On one hand, the manager has to make sure the availability of sufficient staff and compliance with the policy. But, on the other hand, employee satisfaction and relationship with staff are also necessary. Making sure both business and employee needs get along is challenging. Therefore, good leave management is necessary.

WHY IS LEAVE MANAGEMENT IMPORTANT?

Researches show that a good leave management system leads to greater productivity and has a good impact on the company’s performance. It greatly affects project deliveries and employees’ determination. Here are a few serious issues that are directly linked to leaving management.

  1. Meeting project delivery deadlines:

    Employees’ unavailability and lack of human resources may delay project deadlines. Therefore, the manager has to keep in mind the availability of his workforce while committing any delivery date. Also, they should be aware of peak days when most of the employees usually demand to leave. Moreover, when the deadlines of important projects are near, be cautious before approving any leave. Time-off management is crucial to help meet deadlines using any suitable tracking system for it. avast password crack

  2. Legal issues: 

    Every country offers legal rules for employees and companies need to comply with these rules to avoid any legal trouble or penalties that they might come across. Therefore, consider state rules before you make policies for your company. Also, when companies make legal policies, they must guarantee fair and flexible rules for their employees without any discrimination. And, to avoid any risk that can legally harm your manager in the future,  clearly mention everything in it before you hire any staff. Also, managers should be well trained in managing employee leaves and communicating leave policies to their workforces.

  3. Emotional factor: 

    There are several personal reasons due to why employees require a leave. However, rejecting time-off due to any reason can cause severe distress to them. Getting leave timely when they need is directly related to employee’s satisfaction and their morale. To maintain a healthy environment in your company, companies should be able to acquire proper leave management system.

  4. Financial implications:

    Added leaves are financial burdens on organizations, especially compensated and privileged leaves that the company usually pays for. If employees do not consume their paid leaves fully, the financial liability of the company rises and the HR should report this to the administration at regular intervals.

  5. Performance vs. leaves:

    A balance between personal and professional lives is necessary. It has a great influence on employee performance. For instance, an employee, who takes many leaves is a burden for the company as their negligence towards their duties can be detrimental. Whereas, the one who does not take enough breaks might become unreliable for the company since they suffer from stress normally, hence unable to work productively.  Companies must observe both kinds of personnel prudently and arrange training programs for them in keeping a healthy work-life balance. Nowadays, profit-making companies encourage employees to maintain a healthy work-life balance.

  6. Leave trends:

    Most of the employees utilize their leaves during festivals, therefore managers should monitor peak days when most of the employees want time off. Though it is quite tough for managers to handle project delivery deadlines in such times. So, keeping an eye on these metrics can help them in task management and decision making especially while setting project delivery dates.

In the end,

The time monitoring tool in TimeLive is simply comfort for the company. It allows managers and leaders to set up a perfect time tracking system for their employees. It maintains employees’ time off schedule and manages funds accordingly. As you may guess, Livetecs is very concerned about your firm’s standards. That is why, we have created TimeLive to be adaptable, allowing it to take care of your policies according to its rules and standards for effective leave management. TimeLive helps to set up time-off rules for individual employees or groups of employees.

Useful Tactics For Cost Optimization

Undeniably, we always want to earn good profits from our businesses no matter how small or big it is. But the question is how you are going to achieve that? Well, there are two ways: a) Increase your sales and as a result, there is a rise in revenue. b) Optimize your company’s overheads to increase the net profit. The first one is quite productive but you need to plan thousands of ways which require great amounts of time and money. The second method is considerable because you can optimize your expenditures right from the beginning to gain better productivity. Here are a few advantageous strategies for business cost optimization to implement today and save thousands of dollars tomorrow.

  1. Use recent technology for business processes:

“Cost optimization in today’s digital world is about increasing business performance through investments in technology," says Mark Quadros, a SaaS content marketer, and professional blogger.

“These investments should be wise, though. The aim is to have constructive processes in place and improve them constantly, and find new opportunities.” inpixio photo clip 8 crack francais

That said, to save money and take the company forward, use modern technology whenever you can. There are several ways to save business expenses with technology. For example, from virtual meetings and online payment systems to free resources such as Trello, etc. for data organization and employee collaboration.

Resources and gadgets also allow workers to concentrate on work, which saves both time and money. Using chat apps to eliminate phone calls and unnecessary face-to-face meetings. Even, by switching from paper to digital checklists, you can streamline operations. it is time-efficient, and you can avoid many of the equipment costs.

Make it a routine every two months to check all the paid technology. More than that, before paying for the premium one, try their free versions to make sure you need this business application.

  1. Use free and effective marketing strategies deliberately:

The organization needs a stellar marketing plan to produce a profit. But if you only emphasize paid advertisements and media buying, get ready to say goodbye to your company expenses.

With low-cost but high-results marketing, maximize the approach. Start a business blog with effective content, consider supporting free social media, ask customers to write reviews, get free network backlinks, etc.

The techniques are various, and with minimal business costs, you can see a reasonably fast response.

  1. Outsource some functions to remote workers:

Businesses can recruit remote employees because of greater flexibility, improved efficiency, and cash savings.

Remote teams save tons of overheads, eliminating the need for office services, coffee supplies, renting large-size offices, etc. Moreover, research proves that remote teams ensure greater productivity as there is a good work-life balance.

Remote employees show 82 percent less tension, improved concentration, and efficiency, according to studies. They are tech-savvy, creative, and more concentrated on results. Other than that, more faithful to their company organization are remote employees.

Sure enough, you need to be technically trained to work with and control remote staff the best you can. Think of project management software, skills for video conferencing, tools for remote access, etc.

There are quite a wide variety of time management applications that will enable you and your remote employees to stay on track. And above all, time management tools have other useful features, such as project time tracking, change schedules, or invoicing, for managers as well.

  1. Go paperless:

At first, some expenditures seem minor, but they can add up to real business expenses. Why not substitute them with digital invoices, bill payment systems, and competent document creators? Paper, ink, postage, and mailing supplies are a few examples of unnecessary overheads.

  1. Think of a virtual office:

Transform the company to a home-based one, with remote workers and freelancers on the staff if acceptable. On office rent, it will encourage you to cut corners. If required, consider co-working spaces or conference halls for company meetings.

When the internet is accessible for your entire range of business functions, you can think about virtual office. They not only save your time and have low technology costs but eliminate the need for office occupancy and other fees for utilities.

There are lots of popular businesses, like HubStaff and CleverTech, which do not have a single office. Hundreds of people are hired by both of these businesses, all operating remotely.

  1. Consider bartering and co-marketing:

Bartering is an exchange of services and products. For example; you have a small writing company where you are a fantastic writer of essays but have no time or expertise to advertise your services. Why not offer your writing services to someone who would coordinate a marketing campaign for you in exchange?

You may reduce business costs too with such a bartering scheme. B2B barter websites are gaining popularity, like TradeBank or U-Exchange. In addition to the financial advantages, it is an excellent opportunity to build business partnerships and find new clients or partners.

There are several ways of approaching co-marketing. For example exchanging advertising spaces with fellow company members, sharing mailing lists, posting material when necessary on each other’s websites, etc. It will save promotional time and money, but it will improve your rankings, appealing to new clients.

  1. Re-examine your business budget:

Without a working budget, no proper financial management is possible. With a clear understanding of what money you have to invest each month, you can understand what it costs to efficiently reduce business.

To see what’s going on and consider all potential optimizations, add a business budget exam to your to-do list every month. Timely audits work best to ensure that you remain out of debt. And also foresee which months you will be low on cash to re-organize all company expenses accordingly.

  1. Cut financial expenditures:

Companies lose thousands of dollars on items such as excessive company credit card rates, late loan charges, or poor insurance plans. Cost optimization can be done by taking a closer look at the financial statements and automating as many financial processes as possible.

To stop unpaid bills, first, introduce an online payment scheme and set up alerts. Then, ask for a lower rate from your credit card processing company, particularly if you have been with them for a long time. Check if they have anything for you to offer which can save some money. Regularly, look at the insurance plans, analyze them, compare companies, and, if possible, merge policies. And to reduce excessive debt, perform a cost-optimization study.

  1. Master time management:

In the business cost optimization process, time management skills such as prioritizing, following the S.M.A.R.T. method, and advanced preparation will make all the difference. And while some time management applications help with efficiency, others allow you to optimize the work of the business for better outcomes. To improve business processes appropriately, time monitoring software such as TimeLive helps with project management and project analysis.

Goal-setting, decision-making, attention, communication, and even persistence are the time management skills for the growth of a business owner. After all, time is money. If you learn how to do it in the interests of your company, it won’t take long for the financial benefits to show themselves.

Time Tracking Tips For Faster And More Accurate Billing In 2022

It is critical for every company that provides services to clients to guarantee that the bills it sends after each billing cycle are accurate. Unfortunately, inefficient time tracking techniques make the end of a billing cycle more stressful. Inadequate time management leads to erroneous time data, leads to invoice inaccuracy, and causes confusion and delays. The correct time management tactics will help you avoid these problems and ensure that your billing is faster and more accurate.

WHY IS EFFECTIVE TIME TRACKING CRUCIAL FOR YOUR BUSINESS GROWTH?

When unrecorded hours slip between the gaps, your company loses money and your profit margins shrink. A more precise time evaluation might help you reclaim control over billable hours. It helps concentrate on the most profitable initiatives while avoiding the ones that drain your time and money.

Productivity is also a part of your team’s daily routine and the company’s culture of openness and responsibility. So, to improve your time measurement and invoicing customers based on timesheets, you must involve the entire business as well as partners, workers, and contractors who work on your agency’s projects.

HOW TO INCORPORATE TIME TRACKING AND INVOICING

Your firm will benefit directly from incorporating the best time tracking and invoicing under one digital roof. You can accurately track invoice time on hourly and estimated contracts with a combined time tracker and invoicing application. Reduce the amount of time you spend on these processes. Now you’ll have more hours in your week to do more paid work. Collect useful data to make informed business decisions.

The company should make efforts to expand your necessary features and the quality of your invoices is also important. Clients are more likely to pay fast if you offer a variety of digital payment options, such as credit cards or direct bank transfers, on your online invoices. Usually, the software you have would allow you to generate flexible and accurate invoices that help get payments earlier. filmora x activation key

TIME MANAGEMENT STRATEGIES TO ENHANCE BILLING ACCURACY

Time management is always a challenge for some organizations. So, we have assembled a few promising strategies to help you overcome this challenge.

  1. Automate Timesheets with a cloud-based time-tracking platform:

Spreadsheets, ledgers, and other manual timekeeping techniques are certainly burdensome. Each worker must fill out and submit their timesheets at the end of each billing cycle to determine billable work for each client. Since employees fill these timesheets after days, the data becomes far less accurate. Besides, many employees dislike filling out timesheets. Then there’s the additional difficulty of double-checking each statement and obtaining manager approval. Last, process and prepare the time data for billing. As you can expect, this procedure relies largely on manual intervention, making it extremely error-prone. This will influence your earnings.

The most effective time tracking strategy would be to automate all timesheets with the help of time tracking software. In this way, you can avoid late or missed timesheets and hours by entering all data regularly.

  1. Unify Data for Time and Billing

The lack of a uniform source of data is one of the most common causes of delayed client billing. Gather and confirm the time data required for billing which is typically dispersed over numerous spreadsheets. Secondly, process the data before it is used for customer billing. Even if tools are in place, these systems may be disorganized and data is hard to export.

Because there are so many moving elements, it takes a long time and works to bring everything together. It could take weeks in some circumstances. Using a unified platform is one of the best time management tricks here.

  1. Automate Billing through a cloud-based platform

Automated billing through a cloud-based platform eliminates human errors that occur while entering data. It also accelerates the billing procedure and synchronizes billable hours to invoices. Pre-built integration of your accounting and ERP systems can save hours of manual work. Such software can also calculate the expenses which occur while recording timesheets and data. As a result, you save a significant amount of time that you waste on calculating earnings from each timesheet. If you choose a unified solution, this procedure will be even faster.

  4. Integrate Your Time Management and Time Tracking Tools

Understanding which tasks take up the most time for your employees, subcontractors, or yourself is the first step toward improving project management efficiency. To do so, you’ll need to keep track of how much time you spend on each task and set your timer more frequently.

Remember that only recording time spent on a project without a more specific breakdown into tasks will not provide you with a more granular picture. As a result, you won’t be able to identify the tasks that take the most time.

It is now feasible to connect timesheet applications to your accounting software through integrations. This is useful because it allows your accounting staff to manage all of your clients and revenue from one location. They are no longer required to seek information from other departments. All these features also aid in the streamlining of your company’s financial management processes, resulting in increased efficiency and visibility into financial data.

  1. Streamline Invoicing by an automated software

Simply getting the invoices out the door isn’t enough. You must ensure that such invoices are paid on time and correctly. All of your attempts to speed up your billing process will be in vain unless your clients pay you more quickly as well.

To alleviate this problem, you must first keep track of a master invoice and prevent making too several duplicates. Except if the master invoice is labeled as cleared, there will certainly be payment confusion, and you will waste extra time and effort. Payments are automatically recognized against your master invoices when you integrate payment applications with your billing system, so there are no delays or inconsistencies. Second, in your billing system, set up automated late payment reminders. This reduces the need for human input in getting payments on time.

TRACK YOUR TIME  FOR BETTER BILLING – FINAL NOTES

Accurate time tracking is a habit, and unless you’re a sole proprietor, you’ll need to ensure that your entire organization adopts it. Only by including everyone in the process will you be able to make a significant impact on the company’s bottom line.

To attain this goal, you must begin teaching employees.  Monitoring performance regularly, and learning from missteps.

After this, you may need to track the progress and have a better understanding of how your team spends its time. Time monitoring reports will assist you in identifying project management flaws that could result in revenue loss for your firm. You’ll be able to generate stronger sales presentations and manage projects more effectively in the future.

While there are more time management techniques you can implement in your business to improve billing accuracy and speed, the above mentioned points will assist in achieving growth of your business. Also, employing an automated cloud-based solution like TimeLive can benefit your company in a variety of ways. Not only can such a system assist in better billing procedures, but it can also help your company expand and develop.

Want Real Solutions To Manage Expense Tracking In Real-Time?

A detailed expense tracking will offer straightforward insights into how the company spends time and dollars. Also, it helps you recognize excessive expenses, pressures, time-wasting operations, and significant financial loads. Expense monitoring software aids you predict future spending capacity based on current patterns and trends. It can optimize current spending and explains employees’ time usage. Besides, investing in comprehensive expense tracking software will give your company the ability to identify and monitor predatory transactions. It detects legal compliance and prepares workers for the best performance. Also, encourages you to take detailed consideration of both minor and major transactions before action is taken.

This could all have a positive impact on your company’s rapid growth and motivate you to make positive strides in the business world. If you have a clear understanding of your spent time and resources, you can make critical decisions that would be nearly impossible otherwise. TimeLive time and expense tracking software provide simple and useful ways to manage small or big organizations. Here’s the key to it;

  1. Reduced Manual Processes and Administrative Overhead

Time and resources utilized on staff costs can also be excessive, while teams can consume additional costs too. The expense tracker can simplify these, reducing the burden on your administrative staff by reducing both fundamental and human resources. It is easy to learn how to reliably track expenses with an integrated expense tracker. Expense tracking software will give you complete visibility of your expenses and billing and remove the need for physical accounting and management.

  1. Simplified Corporate Policy Compliance

Almost all corporations have rules for how workers have to track time and where they should spend the company’s funds. When customers are paying for services they haven’t obtained yet, the failure to deliver deliverables on time can weaken the company’s reputation. It becomes much more difficult to capture the exact nature of your expenditures as your company expands. It is important to monitor both new projects and employees together. A computerized expense tracking software tracks all the information about the time and money which you are spending. In this way, your company can prevent all of the above problems. Tracking has become less time-consuming and possibly automating all business policies is easier these days by using such software and tools.

  1. Improved Cost and Revenue Forecasts

Based on existing time and expense data, your organization needs to establish smart choices. This is how a company can curtail risks associated with investments and financings, project scope and scale, flight tickets, newly hired, and more. You can access both reimbursable and project expenses within a flexible dashboard by using the built-in tools of the expense tracker. This dashboard helps you to create dynamic, customizable reports and provides the feature of exploring your business metrics in-depth to compare predictions with previous data and more accurately schedule predictions.

  1. Decisions backed by actual costing of the overall project

Deferring choices (or making the wrong decisions) could be dangerous to a project’s progress. It becomes highly difficult to determine the correct way forward without a strong understanding of the situation of your project and personnel expenditures. To make sure your company accepts decisions before changes occur, they must need to learn how to better track expenses. The ability to gain particular insight into overhead costs and project status and measure both against accurate predictions can help decision-makers operate more efficiently and with a relatively high degree of security.

  1. Zero shrinkage of revenue and enhanced performance

Each company wants to minimize spending, improve productivity and enhance its revenue. But reduced visibility often inhibits decision-makers from recognizing where they are losing out in terms of income leaks and employee deficiencies. Starting to learn how to measure the time, costs and expenses can give you information to work better. But it is the expense tracking software’s data and analytics functionality that provide the actual advantage. Instantly generating customized reports can help your company pinpoint inadequate zones of your company and allow you to develop enforceable reactions. In this way, you can save money and time so that a company achieves a better position in the market.

  1. Integration of Data with ERP and Accounting

When you manage individually, the data that your company generates can be tedious, and the potential for error is probably unavoidable. Besides, frequent double-entry of data drags out the critical accounting processes of your company, consumes time, and eventually costs more money. Systematic cost tracking software effectively removes human error and makes it easy to integrate the data with other existing systems, such as ERP and accounting. So when you need it, you can access reliable information in one place. This allows matching the particular framework, enabling both employee and project expense data to flow to areas such as billing and costing. corel draw x3 free download full version with crack

TimeLive Expense Tracking Software

Organizations around the world face common obstacles in cost tracking. This inhibits their positive development as a consequence. By targeting the weakest points in your company and offering oriented solutions, expense monitoring software prevents complications and simplifies this critical method. The cost monitoring software from TimeLive offers a comprehensive suite of time and expense tracking features that can help your company prepare better, invest better, and optimize your sales potential.

Methodologies For Productive Project Management

Project management is a way that enables administrating the project by defining the extent and targets, following the progress and improvement, and making the adjustments accordingly by evaluating the report.

Managing projects is never easy. Lack of vision, poor communication, poor client management, and a lack of working capital can ruin even the most promising projects. Fortunately, you can deal with these challenges and prepare yourself for success following these useful project management tips.

DEFINING THE FINAL GOAL:

The principal object of project management is defining the final goal. When you are aware of what you want to accomplish and what should be the output look like, you are more likely to achieve your aim without any hurdles.

TEAM MANAGEMENT:

The practice of managing the project team deals with the challenges related to communication, recognition, and valuation of team objectives. The project manager takes charge of the handling project team. He makes sure of successful team management activities. The project manager must have and use the following skills to ensure better team management.

  • Leadership:

Effective leadership permits the project manager to communicate the project vision and prepare the workforce to accomplish their venture productively.

  • Decision making:

The capability to make informed, well-timed, and appropriate decisions is a basic competency of the project manager. The decision-making process involves conducting negotiations with investors and the project team for learning environment aspects. It also evolves the individual excellence of team members, motivates team creativity, and manages risks and opportunities. 

  • Better communication:

The process of communication and regulation is used to monitor work in progress and the efficiency of project team workers. Through live discussion and observation, the project manager interacts with team members. As a result, he is able to analyze their achievements in the context of deliverables, undertakings, and relational concerns more easily. Hence, effective communication is the art of achieving successful project management.

  • Performance appraisals:

Performance evaluation is a method employed in project management that is used to measure, compare, and assess the performances of employees in a particular task. It involves monitoring their progress at work and later informing them by giving feedback. It is vital to keep employees motivated and consistent in their job. However, the purpose of assessing performances individually is to ensure employees' productivity, growth, and training in their field of expertise.

Management of conflicts:

Handling conflicts in a team setting to attain greater productivity and positive working relationships among team members is essential. Training for project managers in this part is crucial for their success, as they are usually responsible for dealing with conflicts during a project. 

IMPORTANCE OF TIME TRACKING SOFTWARE:

For effective project management, managers should know the importance of time tracking software. The data that you’ve collected through this software can also be a great help in this reflection process. It will give you a complete overview of the whole thing and add the time perspective to the analysis. You’ll be able to know which processes were most time-consuming. Also, if the delegation of work was optimal and you’ve managed to do everything within the set deadlines. It also tells you where you could have saved more time, etc. 

All of these inferences from time reporting software are critical for the planning and management of a project of similar nature.

EVALUATE THE PROJECT WHEN COMPLETE: 

Evaluation at the end of the project is very important, it cannot only tell us about our shortcomings, but this process also enables us to learn from our mistakes so that these can be avoided in the next venture.

Importance Of Timesheet In Project Management

What are Timesheets?

Timesheets are statistic details or features of the software to check up on the worker’s duties that they do within a certain frame limit of time and budget.

How to record the time of an employee's work?

All the business firms or agencies must report for the time their employees put into the tasks for project completion. This record starts from the very first work that initiates the project till the final work on that project. This record is important for client invoicing. This strategy will help the companies to reach their time limits and accomplish the goals of the project. Our Time billing and the invoicing feature create time and expense reports that have been applied to a particular project to bill its customers.

Methods of recording timesheets:

Some methods of executing timesheets are as follows;

Paper method:

This method includes cards or notes. It’s not trending these days, but it’s useful in simple and small businesses.

Automated document:

 In this system, graphical, tabular, and pictorial forms make more schematic and representational methods for employees.

Time tracking software:

This can be costly and companies use this when big budgets are available, but they are useful in multiple projects and offer extensive service abilities.

Advantages of timesheets:

1) Reduces time devastation:

Proper timesheets provide a better understanding of work for e.g. you can have a look at how to save time from long tasks with accuracy.

2) Precise billing:

You are able to pay bills to your clients with accuracy. For example: according to the hours you work with the use of timesheets. In the same way, your client can see your working hours and project progress for further satisfaction.

3) Computerized billing system:

By using suitable software, business firms are able to calculate the bills automatically.

4) Better project management:

Project management becomes easy and better through timesheets and by using time tracking software. For example, some of the tasks that become easier are as follows:

  • You can hire new employees by accessing their qualities for your project and tracking employees' performances, i.e. who work more productively and competently.
  • Besides, timesheet software allows evaluating the estimated values of project resources and managing workers’ time. Moreover, the distribution of job load equally to all the project members is easy through time tracking software.
5) Save extra expenditures for your business: 

Managers can have a close look at the worker’s labor time and their outcome so that they can figure out who is not working properly and costing them more. In this manner, timesheet reports identify unreliable employees and in return save money for your firm.

Application of timesheets

1) Rectifying payrolls: 

Employee timesheets aid in rectifying employee payrolls, and their allowances become easier to calculate through the software. The chances of mistakes are less with time management software.

2) Project management: 

Timesheets are very helpful in better understanding the project’s tasks and improvise the efficacy of work in all aspects of the project.

3) Law workplace timesheets: 

In law jobs, you pay clients mostly according to the hours they work for you. Timesheets serve best in updating the records of work and having accurate billing reports.

4) Timesheets for self-employed individuals: 

For individuals who are self-employed, time management is the most important key to their success. Undoubtedly, Time tracking software offers accurate assessment and management of their time in the best possible way.

5) Timesheets for the accountants: 

Auditors also work hourly and receive their payments accordingly. Hence, the time tracking software is crucial in monitoring their working hours. In addition, it makes their payment process easy by calculating the amount of time they work on a particular project.

Required features in time tracking software:

1) System obscurity:

Within the same firm, you may need different working systems. The software which you are using should be advanced and upgraded in all the project fields of your company.

2) Uncomplicated presentation of work:

Your software must portray different forms of the information e.g. daily / weekly/ monthly or yearly timesheets. 

3) The procedure of data entry:

Timesheet software in your firm must have the following login features;

  • RFID tags
  • Web portal
  • Mobile phone
  • Other systems as well
  • Status update software system
4) Easy access by the customers:

Your timesheet software must show full assistance all the time either through emails, chats, or phone calls to the customers. Our timesheet app and timesheet mobile feature are helpful in this respect.

Conclusion

In this advanced world, time is essential for everyone and by using our time tracking software online you will be able to compete in the advanced business world.

4 Ways To Advance Billing Process

One of the most crucial processes to run your business successfully is billing. Undoubtedly, it is the fundamental process to keep your enterprise running. Without proper billing and invoicing process, you may have to face a myriad of serious problems. Late payments may cause serious cash flow problems. Therefore, it is important to understand the ways that help to advance the firm’s billing process. Billing and invoice management is necessary to get paid faster as well as for the management of other expenses.

THE BILLING PROCESS

The billing process is a nightmare for business, yet it is an important part. It is time-consuming even if you are efficiently sending invoices for cash collection. That’s why it is important to have a good billing management system in place.

Poor billing system leads to late payment because invoices take too long to get out of the door. Hence delaying the cash you may need. So, fix billing issues at once billing. You can't do it overnight, but with continuous efforts of improvising the billing process, it is possible to get payments quickly.

HOW TO IMPROVE YOUR BILLING PROCESS

Four key ways to improve and advance the billing management process of your company are discussed below.

KNOW THE TERMS OF THE PROJECT:

The more clearly you mention the terms and conditions of the billing process in the contract with your client, the less likely you face problems and misunderstandings. Remember, discuss every single detail of payment policies before making a deal. Because your policies determine how and when you are going to be paid.

That is why make clear-cut payment policies beforehand so that you do not have problems later. Communicating all payment terms and policies, in the beginning, will also help in getting payments in a timely fashion.

Moreover, always ask your clients about the payment method and time they prefer. Also, do not feel bad about mentioning the late payment consequences at all. In this way, your clients make sure to pay you on time.

SCHEDULE FREQUENT BILLING REVIEWS:

Many companies schedule billing processes once a month. This causes so many hold-ups in the end when you try to do all of them together in a short period. Instead of doing it all together at the end of the month, do it every week so that you will not have so many bottlenecks in billing reviews.

And even if you’re not billing your client every month, it’s quite smart to review the duties you’ve billed routinely to make certain they are billed to the correct project and the right task.

MONITOR THE BILLING PROCESS:

Usually, several individuals make contributions in the billing review process, like project managers, accountants, and directors. And there are great chances of missing the invoices or bills. Therefore, monitor the billing process thoroughly.

STORE DOCUMENTS ELECTRONICALLY:

Project billing normally needs duplicates of reports and receipts as a backup for duties on an invoice. Unfortunately, many firms still rely on paper-based backup systems. This system takes too long to compile all the records and receipts and so, demands a lot of manual effort.

Instead, it is more practical to store all documents electronically. In this way, you can easily find the desired information and compile it into a single pdf file so that you can send it to your clients with the finalized invoice.

Hence, the best approach to advance your invoicing process is to automate it. Creating manual bills frequently for numerous customers sucks quite a bit of time. Moreover, keeping invoice details and manually checking your client's payment statuses is another challenge. And, at times, you could fail to recall unpaid bills and you are ambiguous if you have reminded your customers of their late payments. So, implement good invoice management software in the company.

An invoicing management software benefits you in many ways, from making customized recurring bills to preserving client data. It also arranges and sends reminders, following your invoices’ status and a lot more. This is how you can advance the billing process in your company.

3 Key Project Management Software Features For Distributed Teams

The duty of a project manager is difficult. This is especially true when managing a team that is dispersed across various sites. Whether you are habitual of managing a dispersed team for years or are just getting started, it’s critical to use high-quality project management software to manage distributed teams efficiently. Let’s talk about the three most crucial project management software features for remote teams that each provider has to offer.

1) CLOUD-BASED COMMUNICATION

Distributed teams rely on internet solutions to involve all team members in meetings. If your project management software contains an IP-telephony capability, you’ll be able to reach your team members despite their location. All you need is a good internet connection to make calls and communicate with each other. 

As a result, you may communicate with your dispersed team members anytime you need to without having to stress international calls. Team productivity can improve by 30% when you can communicate with your team members anywhere in the world at your ease. This also aids dispersed team members in connecting with one another. Hence encouraging teams to work as a strong unit.

2) AUTOMATED WORKFLOWS

A project leader of a distributed team has to deal with a number of obstacles every day, for example, scheduling, resource management, allocation, and other things. What if you could eliminate the possibility of human error in at least some of your processes?

You can acquire two main advantages by using software that allows you to automate monotonous tasks. To begin with, as previously said, you can automate tasks appropriately. And machines do not make human errors such as forgetting or input typos. Second, automating simple and repetitive operations eats up human resources to focus on more complicated or creative projects.

TIMELIVE WEB SERVICES

For instance, TimeLive web services convert all of your documentation to digital format and track them with the help of computers. Hence, assuring that everything is safe and uncorrupted. This saves time for your employees who would otherwise have to spend time scanning documents. Also, they keep themselves busy double-checking that all relevant documents are present, inspecting papers for damage, and so on.

Now, your team can focus on developing innovative solutions and completing projects on time.

3) COMPANY-WIDE ACCESSIBILITY

This feature might not come to mind straight away, but one cannot underestimate its importance.

Simply put, all members of your team should be able to access and use the time tracking software you choose. You should avoid software that is restricted to specific regions, as well as software that demands each user to have their own account.

The main objective should be for you to be the account administrator, and for everyone else on your team to utilize your account to access the same, workplace platform. Such a system is called multi-tenant cloud software.

As every team member can operate on one portal by using the same account. A multi-tenant technology is essential for distant teams. This creates a sense of overall cohesion. You won’t have to worry anymore, like when you had to either send or track down the email containing the most recent presentation document.

MULTI-TENANT CHARACTERISTICS

A work platform with multi-tenant characteristics becomes a virtual environment where you can store all notes, papers, and other work-related items. This streamlines and simplifies your management and organizational tasks.

Things to keep in mind

The three features we’ve gone over are some of the most important for a project manager in a remote team to look for when evaluating project management software. Irrespective of the platform’s other features, these should be your top focus.

             

Mobile Timesheet: A Problem Solver In Remote Work Setting

As a result of current lockdowns around the world, a huge number of companies are adopting the remote work model. Now it has become more complicated to keep track of your staff. In most cases, remote working has affected the company’s as well as employees’ productivity in a negative way. It has brought a great loss for the company as it takes a lot of time and effort to settle into a new normal. For organizations that have to shift their work into remote work, this can be a difficult challenge that does not have a clear solution. Teams need better ways to account for their time to drive results on a company-wide scale. This is where mobile timesheets come into play.

Do you want to keep a track of your employee time and attendance? A mobile timesheet is your best bet nowadays. Designed to increase productivity and enable accuracy in payroll and accounting processes, TimeLive mobile timesheet app provides organizations with the ability to better manage remote teams. It helps them in tracking the time employees spend on different projects. Nowadays, technology keeps teams together to focus on common objectives. Mobile timesheets serve as a valued tool to resolve six major issues to ensure that everyone stays on the same page along the way.

Inaccurate Time Tracking/Timesheet Data

Humans can perform a wide range of tasks with efficiency. But it is not necessarily easier for them to keep track of the time they spent on individual tasks. The problem with conventional timesheets is that workers will always have to rely on memory to estimate the time they spent on a particular task. This results in discrepancies in accounting and payroll and can potentially damage the result.

Mobile employee timesheets enable all workers, whether they are in the field or working from home, to provide accurate information on the fly. The best time to note basic measurements is right after they occur. As a result, tracking this data in real-time helps to decrease errors. Team managers can easily access these notifications, which can rapidly verify completed projects, spot any mistakes or inaccuracies before they cause larger problems.

Delayed Approvals & Processes

It can be exhausting to manually review and confirm employee timesheets, invoices, expenditures, and time-off requests. And generating a backlog effect that adversely affects the effectiveness of your management and staff. The approval process slows down due to frequent inspections and requests for proper documents, limiting the opportunity to continue with successive work, and costing your company valuable time. However if staff could electronically send their timesheets, request time depending on the type of time off, look through festive holidays to see available dates, and submit automated expense reports, it would eliminate a great deal of the weight that comes with these verifications and approvals. Employee timesheets and the time off tracking feature of TimeLive help you in this purpose.

With built-in reminders and alerts, mobile timesheets provide a simplified approval process allowing managers to verify and sign on critical documents on time when out and about. The rapid approval of the mobile timesheet app helps teams to keep consistent schedules for projects and activities. Also, it ensures that progress is not stopped, and the flow of information to crucial departments including HR, payroll, and accounting gets simpler.

Lack of Visibility

Simply put, not all teleworkers work well. For some, remote work can be a difficult task as it shatters the traditional workday’s normal routine. Organizations need to ensure fair payments to staff to produce results. It is difficult for managers to guarantee that staff is doing work seriously without inspecting them. As a consequence, workflows and public image compromise, and clients’ work are in jeopardy.

Mobile timesheets with integrated Navigation features allow executives to keep a watchful eye on the performance of workers. It also shows where employees work, and ensure that everyday work is done. Besides, GPS features can be used to track when staff join or leave a predefined job site.

Inability to Forecast

For the calculation and financial planning of specific prospects, accounting for time on specific tasks is important. Without a clear monitoring system that maintains a detailed record of where staff utilizes their time, this can be challenging. Organizations must be able to reliably forecast the amount of money it would take to produce a completed outcome for a customer to stay competitive. And for this, mobile timesheets provide built-in tools to monitor these vital metrics immediately in real-time.

Accounting systems can retrieve detailed information regarding the number of staff required to complete the project as well as the anticipated project duration by recording time spent on specific work within an automated timesheet calculator. This implies full time and expense visibility and better precision in terms of billing, employee pay, and overall predictions.

Unproductive Employees

Goals are a big challenge for companies, and it is important for teams to come together to achieve them. Without a firm handle on where employees consume hours, managers can begin to lose contact with workers who, due to a lack of assistance and guidance, become unproductive. With the right to create production goals and a mobile timesheet app‘s real-time input capability, you can gain full accountability of employee’s productivity. This helps teams set goals and remains committed, while managers can monitor progress based on immediate perspectives. As a result, they can offer clear feedback to their employees to achieve good outcomes.

Unplanned Overtime

Overtime generates unnecessary expenses for the company, which can be harmful to a project’s financial performance. These unexpected or unplanned expenses directly affect the company, and without a proper plan in mind, it’s hard to predict when they may arise. You can easily gather time data and monitor overtime trends across projects and teams by implementing mobile timesheets. This will give the company the ability not only to anticipate future trends but to build more techniques to fully prevent overtime. In short, the data obtained by mobile timesheets will provide useful information and help you determine the correct equipment. Resources and staffing have been allocated to each project accordingly to stay financially on track.

TimeLive Mobile Timesheet Solution

Using mobile timesheets inside a mobile timesheet app will eventually support your company. It provides control, consistency, and certainty during the transition to remote work,  helps you regain control of the time spent by your current remote workforce. Adjustable formats for timesheets will allow your teams to more accurately report their time and provide useful insights to stay on track. The mobile timesheet app from TimeLive provides the ability to monitor time from anywhere and on any smartphone, with easy access to the data of each employee. With streamlined expense processes, time-off requests, and regular timesheets, it’s easy to cut back on missed time, and something your company will experience today.