Time tracking is the simple art of calculating the amount of time spent on day to day tasks. It is a kind of synonym for time management. In the present fast paced world, people need proper time tracking. New and advanced technology has also produced time tracking software to help people manage time and daily tasks on the move. Time tracking is used by both employees and employers since paying by the hour is becoming common.
Saving money through Time Tracking
Many people are unable to estimate how much time they spend on certain tasks. This is the main reason that enjoyable and pleasurable events seem to be shorter while boring tasks seem to take more time.
Don’t guess how much time you spend on your task
This usually happens because estimation of time is like a guessing game. Our mind works in a way that makes guessing into something that our brain wants to believe.
On the other hand, measuring the exact time being used by specific tasks gives us the real-time facts.
This is the reason many companies and industries are making use of proper time tracking software. This helps not only use time productively and efficiently but also save precious money.
Trick or treat
The human brain can be tricked more easily than machines. Although, the machine is also being made by humans themselves but they are programmed to measure time like our brains cannot. It is no rocket science that we can only fix something if we can properly calculate the damage.
If we can’t calculate the extra time that we are using then we can’t take steps to optimize it.
Therefore, we lose money. It is so surprising that by just using time in a wrong way can cost us a significant loss of money.
Be a savvy person!
A simple example of using extra time and losing money is the traditional employee attendance system. This system usually consists of time sheets that are signed by employees when they enter and leave the office for work. Apparently this seems to be a harmless method and also seems to be a better record since it leaves a paper trail.
However, it takes time to make these sheets and also money for the paper.
Moreover, it can be estimated that each employee must be losing at least 6 to seven minutes of work daily. In general, these few minutes seem to unimportant and adjustable. Calculate this on an annual basis, and you will see the dangerous amount of money and time being wasted.
Therefore, we can use time tracking software that helps save not only time but money. There are many options available on the market. Time tracking applications can be selected according to what suits you. There are features being offered according to which industry your business belongs to.
We live in an increasingly competitive global village. Time and money are both very important. Time is a resource that everybody seems to be complaining about that they don’t have much. Money is a treasure everybody seems to be running after. In order to keep up with the fast-paced business world, we need to save time and money.