Office Timesheets - Time Tracking Made Easy & Profitable

How much money do you lose each day because you don’t have a system to track employee productivity? Time is money and how your employees spend their time on an hourly, daily, weekly and monthly basis can cost you money or it can make you money. When employee productivity is enhanced, you are able to make more money and you can track the relationship between your employees’ time spent on tasks versus profit made. The use of an efficient time tracking system will provide you with the means to track your profit and then bump it against how much time your employees spent on specific tasks and projects. Your goal should not be just to track your employees’ time, but to improve time management and improve profits. This white paper shows you how you can use Office Timesheets as an effective time tracking and management systemnnIntroductionnThere are very few simple equations in business, but one that always holds true is that employee performance and time analysis always affects your bottom line. Everything in your business can cost you money or make you money. In fact, human resources costs are approximately two-thirds of the total cost of your business. Additionally, it is not uncommon for employees to only get in two and a half hours of their eight hour workday on the actual production work they need to accomplish. This means that measurable progress on a specific task or project is only about 25% to 35% of the hours worked. What does this mean for your business? It means you are losing 65% to 75% of the time your employees spend at work. 65% to 75% of their time is spend on tasks that are nonproductive and do not make you any money. This is an astonishing fact and improving the amount of time that your employees are able to spend on their actual work will undoubtedly increase the amount of money your business will make.nnTo improve your bottom line, you must have a system that will allow you to efficiently track the amount of time your employees spend on their actual work. Through a time recording system you are able to do exactly this and Office Timesheets can assist you.nnIn This White PapernYou will find that this document reviews the following:nProblems with time tracking systems today.nOffice Timesheets and how it can assist you in improving your time management system.nnProblems with Today’s Time Tracking SystemsnTime tracking in business used to be simple. Your employees clocked in with a time card and at the end of the workweek you added up their time and you paid them. However, as technology has advanced it has become even more important that time tracking become automated, but this has proven difficult for many businesses.nnBusinesses Lack AutomationnMany businesses lack the ability to completely document their employees’ work time, attendance and leave times. They know their employees are at work and should be working, but yet there is still time that is being lost somewhere. Additionally, many companies lack a centralized time tracking system all together and when it comes to time spent on specific projects, it’s nearly impossible to track this amount of time.nnTime Reporting takes too Much TimenWhen you look at the current time tracking system that many businesses are using you find that the actual time reporting to verify time worked is simply too complicated and too time consuming. Employees clock in, but then those time cards have to be verified and time added. Even on digital time clocks you must print off timesheets and then verify them. What happens when someone is late and has their friend clock them in for them? Nobody knows and you pay for that time in which no production was completed. Pay day literally requires numerous hours from human resources departments to complete when they could be spending their time on more valuable projects and tasks.nnTime Requirements VarynIf you had one person for each position in your business time tracking could be made simpler, but what happens when this just isn’t an option for your business? Many businesses have individuals who perform several different duties within the business and they have different pay for each position they work. These individuals must be clocked in and clocked out under a variety of different job positions and then their pay figured for each. nnWhat about different time keeping rules for different positions? Some businesses require thatnadministrative and executive positions keep specific time under different rules than they would their operations departments. To make it even more complicated workers at lower levels of the company have their own set of time keeping rules and schedules. It is not unusual for some large companies to have six or more different sets of time keeping rules for their different levels of employees and administration.nnManagers Need this InformationnIn order to effectively manage your business, your managers and supervisors must have access to reliable time keeping systems to ensure that their employees are being productive. They need to know how much time is spent on various tasks and other business requirements. Just a few areas that use up time in the workday may include:nWaiting on workspace to become availablenAttending meetingsnTrainingnSecuring permitsnTime waiting on further instructions or assignmentsnTime spent waiting on for specialized toolsnTime spent getting to a particular worksitennOffice Timesheets – A Tool for Effective Time ManagementnOffice Timesheets is a time tracking system that not only allows you to track the time spent by your employees, but also allows you to manage expenses. With Office Timesheets you are able to create users that allow you to enter time, which can later be used to make comparisons between time spent and budget analysis with other features including:nCost analysisnEmployee PayrollnEstimation on future projectsnOverall job time and costsnClient billingnInternal billingnContract regulation compliancennThrough an easy-to-use Office 2007-style interface, Office Timesheets is a web-based application that allows you to simply and easily track time and expenses using a spreadsheet design. This allows you to eliminate costly errors that have been experienced through prior time collection methods. The simple spreadsheet design of Office Timesheets means that your employees are already familiar with the layout, and use of the product requires little to no training. The familiar Office 2007 design means that it’s easy to use and most employees are going to be comfortable with the design if they have experience with Office 2007.nnEasy-to-Use InterfacenOffice Timesheets doesn’t require that you have an expert IT department that can teach and train your employees, so you don’t lose time here. Office Timesheets is organized in logical format utilizing tabs that are easy to see and read. All functions and views are easily found and exposed through the ribbon bar, similar to that of Office 2007.nnTo make it even easier and more comfortable for your employees and business to begin integrating Office Timesheets, the software has been written and designed using Microsoft’s .NET framework architecture. This means that you are able to utilize a thin-client interface that is fully supported by Internet Explorer and Firefox browsers. This means that the system is also easy to use on computer networks that use both Windows-based and Macintosh-based computing platforms. It remains easy to use on either operating system.nnHost or Install?nWith Office Timesheets you have the option of either. The hosted version, or Office Timesheets On Demand, allows you to utilize the software hosted on secure servers in a secure data center offered by Lookout Software. All you do is pay a monthly fee per user that is very affordable. This means you don’t have to worry about installing software on your system and it’s available on the web 24/7. This option is ideal for businesses that will have only 1 to 50 users. For larger companies, you have the option of having Office Timesheets installed on your company’s servers. This provides you with complete control over your software and its data. The software integrates perfectly with Active Directory and starts at a low price per user. Once you purchase the software, you own it. This is ideal for companies that have 50 to 5,000 users.nnManagement OptionsnThrough Office Timesheets you can manage every aspect of time that your business uses. The Office Timesheets Process Management tabs offer you the ability to manage all of the following:nEmployee timenGroup timenProject time including client time, projects, phases of projects, sub-tasks, etc.nExpenses with expense codes and expense code groupingnHolidaysnTimesheet tasks and rulesnEmployee timesheets and expense reportingnStep-by-step approval process that makes time approving faster and easier for pay periodsnCustomized employee rate tables for your company’s multi-taskersnThe ability to customize your management needsnnThe Ability to Customize Time Management is Priceless and Easy through Office TimesheetsnAs you can see, the new technology and the Internet has once again made life easier on businesses. To make it easier on you and your bottom line, implementing an easy-to-use time tracking management system not only allows you to save money, but allows you to recapture those precious minutes and hours in each workday that were being lost by out-of-date time tracking methods. To make life even easier on small businesses, Office Timesheets will soon be able to import and export QuickBooks data to make your accounting software and time management software work seamlessly together.n nImplementing Office Timesheets in your workplace today will mean that you are ahead of the game and saving precious time to improve profits and the efficiency of your time tracking system.nnnFor more information visitnhttp://www.officetimesheets.comn