How timesheet software can save you money
One of the most essential parts of running a successful business, timesheet management is a mission-critical task in every field.
So, how can timesheet software help save you money and what critical advantages can it potentially bring you your work?
Let’s explore further…
How can it help?
Deploying a considered software solution can be a cost-effective way to bring improvements to all corners of your business.
Some of the most significant advantages include:
Digital transformation: Processing and chasing late timesheets can demand significant attention. It can be as simple as a small correction or involve multiple phone calls, checking and rechecking submitted materials. Choosing a cloud-based solution enables you and your teams to upload documents safely and accurately – allowing you to make a steady transition to a solely digital system, a ‘big bang’ implementation that migrates your data across or deploy a hybridised solution. Materials are accessible from a range of devices as a result, driving improvements throughout your business, push efficiency and assert greater control.
Reporting: One of the most important elements of timesheet management is reporting on the data you have. Working with our software allows you to quickly store and retrieve any and all relevant data for your timesheets. You can see better how efficient your employees and contractors are. In addition, it empowers you to make business decisions based on hard and fast evidence because you can see which projects are running over and which need a resource boost to get them over the line.
Error reduction: Fixing mistakes always comes at an expense. And when it comes to timesheet management – the costs can be significant. Whether it’s sheet duplications, typing errors, missing forms or more, enforcing validation in your software can help reduce human error and the cost of following up. It becomes particularly costly if your business comes under audit by HMRC, with refiling and administration costs often eating into your budget. Coupling this with regular reporting can allow you to spot errors long before they become an issue, correct historic data with ease and drive quality throughout your work.
Time-saving: One of the biggest advantages of choosing a digital solution is the ease with which laborious or complex processes can be automated. It allows you to save time and resource, removing dependency on members of staff that may possesses specialised knowledge – letting your teams work efficiently at all levels. Using a software platform can allow you to ‘bulk upload’ sheets and automate the chasing of missing submissions – freeing up valuable time to work on more pressing tasks. Solid UX can also allow your team to work quickly, efficiently and allow any teams working with you to benefit as well.
Compliance: With GDPR driving change throughout all industries, it’s vitally important to ensure your teams are working in a way that is fully compliant with the law. You can secure cloud storage of your data in a way that is protected and in line with regulations that affect your industry. If legislation on data security and handling is introduced, any reliable platform will adapt to accommodate those changes and keep you in-line with the law at a reduced expense.
Minimising growing pains: Times change and so does every business. Settling on a software solution means your company remains responsive to change while ensuring your teams have the tools to tackle any payroll-related challenge at their fingertips. Selecting a flexible, modular software solution allows new components to be added to your design as needed. Your platform can grow with your business as a result, cutting down on administrative fees and training costs.
If you are keen to find out how deploying a timesheet software-based solution can drive savings across your business, Practical Software is here to help. With comprehensive professional experience and a highly-seasoned team, we are happy to work with you to ensure your implementation is a success and you see the benefits as soon as possible.