By
Jyoti Tejpal
Helps teams easily track time & hit budgets Integrated apps for phones computer desktops & browser extensions Quickly enter time Integrates project software
Accurate time tracking with screenshots App usage GPS location monitoring & Paints clear picture of Team works Full-featured reporting comprehensive efficiency
Generates reports & time usage graphs with option to export time logs as Excel spreadsheets, get weekly reports via email or share public reports client links
Timesheet automatically tracks worker in-time and out-time, attendance, schedules, and paid time off. These systems let companies monitor worker time and calculate labour costs on a per-project basis.
Timesheet solutions are generally offered as either standalone products (includes time tracking and attendance management functionality) or accounting software integrations (facilitates payroll calculations based on total time worked; incorporates this information into financial reports).
Accurate payroll calculation via digital time tracking: Manual payroll management is inefficient and error-prone, requiring staff to collect worker time cards, calculate time worked by individual workers, and compute total payroll using hourly wages or salaries. Timesheet software features digital time capturing for in- and out-time. This information is auto-populated on worker timesheets, minimizing calculation errors and reducing associated time and effort.
Sufficient time tracking for remote workers: For remote employees who shuffle between an office, their homes, or other locations, manual time tracking requires notable effort, is inefficient, and time-consuming. Timesheet software provides digital timesheets that automate the time-tracking process across multiple sites. Some products even feature automatic screen capturing, letting managers track engagement levels of their teams by estimating the percentage of time spent on non-work-related activities such as social media and internet surfing.
Efficient client management and staff scheduling: For client-facing working on multiple projects for different clients, tracking time and revenue for each can be frustrating. With digital time capturing, timesheet software provides real-time reports on time and income spent on each project. This information helps managers prioritize projects based on revenue and time required and schedule staff accordingly.
Features of Time Sheet Software
Worker scheduling: Schedule shifts based on worker availability and project priority. Schedules can be synced with employees’ calendar of choice like Google Calendar, Outlook.
Time and attendance management: Let employees mark/track their attendance and log specific in- and out-times, removing the need for manual calculation before entering data into your accounting/payroll system.
Hourly worker tracking: Calculate the total number of hours worked using sheet-in and sheet-out functionality. Users can log this information using biometric and other electronic time capturing methods.
Sick leave tracking: Allow employees to submit ill leave requests, which are forwarded to managers for approval.
Vacation/leave tracking: Provide a worker portal to record paid vacation and time-off requests, which are forwarded to managers for approval.
Cost of Time Sheet Software
Most of the products in the market are priced on a “per user, per month” basis, and can be divided into three pricing tiers based on their starting price. Premium plans that are priced higher than basic methods often include additional features, such as worker profitability reports, invoicing, and API access.
Buying time Consideration of Time Sheet Software
Electronic time capturing: Companies are continually looking for ways to improve the accuracy of time capturing. One such method is automatic time winning, which uses data-capture methods such as key cards and biometric devices to record in- and out-times. Electronic time capturing automates the entire process, and eliminates “buddy punching”. Different types of automatic time tracking devices are available, such as barcode badges, stripe badges, fingerprint readers, and proximity badges. Companies that are using or planning to use one or more of these systems should evaluate timesheet software that is compatible with such devices.
Web-based mobile sheeting and mobile apps: Increasing remote workforces among small companies pose significant time tracking challenges. Web-based mobile timesheet solutions help companies address this challenge by letting employees sheet in and out from their smartphones. Some products include GPS tracking, providing managers with real-time reports on the location of their team members. Companies that work with mobile and remote workforces should look for timesheet software that offers mobile access.
Time Sheet Software Trends
Artificial intelligence (AI) is transforming the timesheet software market: The quest for more efficient and accurate time capturing methods is driving the adoption of AI in the timesheet software space. AI technologies such as face recognition provide users with a practical and foolproof way to validate worker attendance. AI also helps companies analyze large datasets from GPS devices, and offers real-time time reports on the location of remote employees.
Chatbots will drive automation in timesheet software: Adoption of chatbots in small companies is on the rise. Our research shows that 68% of small companies are either using or plan to implement chatbots by 2020. Chatbots let companies engage in real-time dialogue with employees to capture their current work status. As an example, chatbots can ask employees about the project and tasks they are currently working on, and populate their responses in timesheets.
