Top 5 Benefits of Using Automated Time Tracking in Construction
Benefits of Automated Time Tracking
Every business owner understands that time is money. While it sounds cliche, it is more accurate than ever - especially when it comes to tracking time in the construction industry. By automating time tracking, you can save time and money and increase productivity levels. This not only boosts your bottom line but can save you lots of stress in the long run.
In this article, we’ve broken down some of the top benefits that come with automated time clock software and how a time tracking app is the best solution for those in the construction industry.
Benefits of Automated Time Tracking
1. Accurate Estimates and Billing
Numbers are the foundation of every business. Having an accurate log of job expenses, project needs, productivity levels, and hours worked determines what resources need to be ordered, when to hire more employees and how your business practices can be improved.
Accurate job costing can help you set pricing for your services or materials and allows you to determine which areas of your business can be fine-tuned to produce better results. It can also help track hours spent on different projects and reduce the need for overtime - saving you money.
In construction, it is especially crucial to manage projects accurately. Staying on schedule and on budget is great for your business and leads to happy clients. It’s essential to know approximately how long projects will take and how much they’ll cost to deliver what’s promised to your client.
2. Save Time
Automated time clock software frees up time spent on outdated manual time tracking methods and the inconvenience, such as human error, that comes with them.
With more time on their hands, supervisors can focus on business growth. Employees can spend less time manually entering time card information and more time doing productive work.
3. Manage Overtime
Overtime is inevitable in any business. Projects that have short deadlines often means employees are working overtime to ensure the job is done on time. Automated time tracking makes sure that overtime is approved and within budget. This helps you to avoid going over budget due to unnecessary overtime.
Automated time tracking for construction employees also ensures that you’re up to date on any state or federal laws regarding overtime as well as mandatory breaks.
4. Save Money
Outdated paper time cards with hand-written hours are a huge pain. In addition to that, employees may purposely or accidentally write down incorrect hours, or round hours to hide a late arrival or early department.
This form of time theft means employees are being paid for hours they weren’t working and impacts the productivity of your business as a whole. Automated time clock solutions help combat time theft and ensure that payroll is accurate and fair.
5. Eliminate Time Theft
Mistakes happen all the time, but when it comes to manual time tracking, continual errors add up to real dollars and cents. The American Payroll Association estimates that businesses can lose as much as 7% of their gross profit due to payroll inaccuracies. If you have a small business, that can have a drastic impact on the overall health and success of your business.
Automated time clock software eliminates the mistakes and loopholes that exist with traditional paper and pen timekeeping and can save your business money. When employees hours are accurately recorded, you can avoid overpaying for hours that were not worked.
Time tracking apps are the perfect solution to time theft in construction since they often provide GPS or geofencing features to restrict an employee from punching time until on-site.
When you have multiple construction sites spread out all over the place, the ability to set geographical barriers and automatically keep track of who is on-site takes all of the heavy lifting out of accurate time tracking.