Product

What Is Time Tracking

Glossary

Time tracking is a process that allows companies to accurately estimate the amount of time spent on a project or task by hourly-paid employees. It usually involves time-tracking software that allows one to accurately record the required time in order to calculate the amount of compensation.



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Who requires time tracking?

  • Freelance employees. They are usually hired to do some specific type of work. When you are your employer, you can not waste any money, so accurate time calculation is a must.

  • Organization with the hourly payment system. Running a business that bills customers on an hourly basis will be a disaster without time-tracking software. It not only promotes accuracy by eliminating the possibility of human error but also promotes clarity for the customer.

  • Remote employees. If your team is spread all across the globe or simply does not have a necessity to constantly sit in the office to be productive, calculating the time spent on the project becomes complicated. Time tracking allows us to not only track progress but also evaluate individual involvement.

  • Hiring 3rd party employees. 3rd parties usually mean part-time or hourly workers who are hired to do a specific task.

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