Costs you money
This is a no brainer. When you’re not accurately tracking time, you’re losing money. Outdated pen and paper time tracking is far less accurate and efficient than newer, automated systems.
They leave themselves open to hour inflation, data entry errors and generally don’t provide an accurate or thorough picture of just how your business is operating.
Even if your paper time tracking system works better than most, the small problems inherent in the system add up over time and soon start taking big chunks of money out of your bottom line.
Not only that, but the problem perpetuates itself. Without accurate time and attendance records, it’s extremely difficult to identify just where you’re losing money and how to solve the problem.
Hurts employee morale
Buddy punching, time theft and hour inflation is all-too-easy with a manual, pen and paper time tracking system.
Watching their fellow employees’ time tracking transgressions go unpunished can have a major impact on your honest employees’ morale. Pen and paper time tracking systems offer no real way to detect buddy punching and time tracking fraud.
That makes getting away with it too easy.
Not only will watching dishonest employees get away with stealing time be discouraging, it may inspire once honest employees to take advantage of the holes in your time tracking system too.
What once was a small, contained problem can quickly become a much larger and much more expensive one.
Prevents you from acquiring new customers
In a fast paced, competitive environment, setting your business apart from others in your field is essential. The quality of your product, pricing and service are all important areas to differentiate yourself from the competition.
It’s how your business grows.
Inefficient or inaccurate time and attendance tracking can have a negative impact on your efforts in all of these areas and prevent you from gaining more customers now and down the road.
Potential customers or clients expect a great product or service delivered at a fair price. Part of being able to deliver this is ironing out the inefficiencies that cost your business unnecessary time and money.
With pen and paper time tracking, it’s hard to accurately identify where time and money is falling through the cracks.
Automated time tracking systems, especially those with robust job tracking features like the The ExakTime system, offer you a clearer and more complete picture of how your business operates day-to-day. In turn, you can make more informed decisions when it comes to improving work output and reducing costs.
Want to learn more about how automated time tracking can improve your business’ bottom line and how ExakTime can help? Contact us!