Why is time tracking crucial for subcontractors?

by Chris Hills in February 17th, 2022

Time is always a key variable for the job and the billing. The profitability relies on effective time management which helps you increase the team productivity and allows you to monitor bottlenecks throughout your process. 

What is time tracking and what are the benefits to your business?

It means monitoring the time that the team members spend for specific tasks relevant to specific projects or non-project-relevant tasks that they do regularly.

This time data that you collect will give you insights into the possible problematic and unclear parts of the project which may cause problems in the future. And also, which are tasks that people do most inefficiently so that could be improved.

Get paid faster and more accurately

You are a subcontractor dealing with many projects and clients simultaneously. Your employees are working on several projects and answering many calls from different clients and so on. It is too easy to overlook the hours spent on these mini tasks that will make you lose profit.

With proper time tracking, you can cut down the costs by spotting the challenges and making a much smoother process for all of your projects which leads to getting paid faster.

Increase Productivity & Efficiency

The larger your team gets, the harder it becomes to manage. Time tracking is crucial for managing large teams. It will be much easier to stop overloading some employees and using other ones effectively.

Being busy all the time does not mean that you are working efficiently and that the job cannot be done faster. It is more about how smart you are working. In large teams, you can monitor where the time goes and what should be the focus for improvements.

Let’s say you gather your data and realize that 10% of your employees’ time goes to document sharing among the team. You can improve your tech infrastructure and let them work faster. Many challenges and inefficiencies can be observed with the data that is gathered from time and task tracking.

Monitoring Project Lifecycle

Time tracking is not only crucial for team management but also important to the successful project lifecycle. Every project has its own requirements. Meeting these requirements can take unpredictably long. By tracking time, you can spot the possible problems at the early stages of the project. And you can assign more employees to the same job so that it can be completed on time.

It will reduce the risk of missing deadlines and losing money.

As Gamyte, we have used Artificial Intelligence Technology to provide a successful time management system which is proven to increase productivity inside our platform.

Let us show you how our AI can help you track your time and manage your team.

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