The immediate needs will most likely not be the same as tomorrows needs, and therefore it will be well-spent time to do your research and choose a time system wisely. Ask yourself what it is you need a time system for – Insight? Payroll purposes? Effectiveness? And then move on into looking for system that supports your requests.
Mostly all of them would be our answers. Simply because regardless of business type or size, insight will always be essential for growth. Communication will be essential for making sure the staff is happy. And payroll – well, I do not need to tell you that everyone wants their salary when salary is due. Even if your staff is working normal office hours, on fixed schedules or shifts, a time reporting system can facilitate the entire administration chain. Time capture provides insight into who is working when as well as making sure all hours are reported correctly ahead of payroll. It will also help management as it shows transparency towards staff to give them the option of looking into their own time management. They will see how many hours they have worked or been absent, how many days they have for annual leave, how many hours they have saved in their flexitime bank, and more. This will help management to communicate with staff more correctly about their time and minimise administrative work.
If you are in the consulting industry, a digital time system can be of great use. Setting up targeted billing rates for each consultant and seeing them reporting every billable hour will make it easier to keep track on your business income. The consultant can see their own working hours and how they need to prioritise their time to meet their targets. With an integration from your time system to your invoicing or economy system – all billable hours will be easily exported for invoicing.
Payroll and invoicing are two of the biggest processes of any business, no matter the size. Using a digital time system, separate from the system for payroll and invoicing, there will be less worried about giving access to sensitive data. The fewer people have access to your economy, the better. Using a time system will capture your hours and make sure that none of it is left or forgotten whilst minimising time in otherwise time-consuming, re-occurring processes. Over time, there will be more valuable time saved that can be used for growing your business.
It is said that knowledge is power, and in this case, it is very accurate. Insight into who is working when and how much will give management the chance to analyse if time is being wasted. With insight of reported time for individuals, departments, and your business, will give you everything you need to know to increase growth and profitability. Analysing deviations such as illness, flexitime, overtime, parental leave, holidays, or vacations – can become your greatest asset for catapulting into increased revenue. Is there a high amount of sick leave within a department? Maybe there are factors that need to be considered to make sure sick leave is reduced within that department.
The single, most important factor when choosing your time system is that you must know your basic needs and requirements. You need to know what it is you need it for. If you do not have a clear motive, it will be almost impossible to know if you have found the perfect system for you. When you know the basic needs, you can start to look for a supplier that carries a system that might fit.
When looking into different suppliers we recommend that you, apart from seeing if they fit your needs, also research what their setup is like: do they provide services in several different areas? Can they integrate to other business systems if needed? For instance, with QBIS you can choose one or several services for your business: time, project and/or expense management. Furthermore, you will be able to pick your economy system so that you do not have to compromise on any of your requirements, but instead get the best in every aspect.
Lastly – what do you want your business to look like tomorrow, in five years or in 15 years? Creating your own ecosystem with different suppliers will give you the chance to grow within your own speed. Because all suppliers are focused on their own services, the product development will most likely be prioritised so that you never feel like you are losing out on new technology.