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Increase project profitability with Timesheet applications

21 July 2020 | EN
 


Managing teams, projects and tasks in the era of a pandemic is a huge challenge for many enterprises. Current methods and tools are insufficient, control is lacking and communication leaves much to be desired. So how to ensure efficient project management and increase their profitability? Timesheet applications will help you with this.

During the lockdown, many companies lost the ability to supervise employees and were concerned that the declared time spent on projects did not reflect the real time. The problem was (and is) also errors in statements or reports, practically impossible to verify in the remote work system. Difficulties arose not only in settling current projects or overtime, but also in planning new works. This causes many misunderstandings between the employer-employee and the company-customer. It also makes it impossible to control margins or actually assess the profitability of projects.

Spreadsheets are not enought

The most popular tool for recording working time are spreadsheets, unfortunately they are not suitable for efficient group work, and are also prone to errors (e.g. data overwriting) and abuse. In some companies, there are even paper forms and graphics that turned out to be useless when switching to remote work mode due to the coronavirus threat. In such situations, online tools come to the rescue, perfectly performing the functions of systems recording working time (so-called Timesheet). What’s more, they allow you to optimize the occupancy on projects, better plan the costs of future projects, and thus save money.