Artificial intelligence has transformed the future of many industries. One area that has been under- investigated is the use of AI in time tracking technology.
AI is Fundamentally Changing the Future of Time Tracking Technology
A time tracking software is a worthy investment irrespective of the size of your organization. It generates accurate reports based on the amount of time your team spends working on a task. These reports facilitate planning of budgets for upcoming projects.
Many AI tools are changing the nature of time management. MindSync AI discussed the pivotal role of AI in time management in a Medium article.
Why is time tracking software important? It helps with keeping track of the hours being invested on a given task. This sheds light on the timeline for the overall project. It also helps in determining the productivity levels of the employees.
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This is one of the many reasons that AI is driving workplace productivity. But how can employers utilize it effectively?
Before investing in a time tracking software, you must look for the following key features:
1. Time Tracking:
Without a doubt, the most important feature is accurate tracking of hours in real time. An employee’s work progress helps in estimating work completion timeline. Monitoring it in real time helps you know what exactly an employee is working at the moment. If this is inaccurate, all statistics based on it are redundant and serve no purpose. This helps with productivity, as we stated in this previous article.
The time tracking software should provide details down to the minute, no matter what the work location is. Reports generated by the time tracking software are crucial for estimating project deadlines and setting priorities.
2. User friendly interface:
We have also talked about the benefits of using AI to foster a better user experience. Many time tracking applications have taken this lesson to heart and used AI to make their user interface more intuitive.
Your team will use the time tracking software every day to maintain regular time logs. Hence, ease of use is a must have feature. A friendly UI will save a lot of time by displaying all the necessary information at one place.
A good time tracking software features the most relevant information on a dashboard that’s easily accessible to all. This allows employees to keep track of their individual progress within a project whilst managers can forecast project completion.
3. Online reports:
The generation of timesheets featuring attendance reports and billable hours is another important feature to look for. These reports are generated automatically based on employee time logs and are used for calculating payroll and billing the clients.
Reports based on daily, weekly and monthly statistics are also essential for analyzing employee efficiency in a particular project. This enables sharing of data to different departments also easier. If the software allows customization of reports, it becomes an added bonus.
4. Mobile compatible:
Having the flexibility to log hours through mobile devices is very convenient. A mobile version of the time tracking software is a must for on-the-go reporting. When a team is working from remote locations, this feature becomes highly beneficial to maintain accurate time logs.
Mobile time tracking can maximize work time and help employees in better management of their work time. This makes the work day more productive and produces superior end results.
5. Billing Management:
This feature is important for generating invoices based on billable hours. Since the number of hours is being tracked and visible to the employees, there is transparency in the payroll process. Salary calculations become easier and error free. This is especially important for bigger organizations since it is impossible to manually calculate each employee’s wages based on their number of hours and number of holidays.
If clients are to be billed by the hour, the time tracking software proves a big-time saver by automatically generating invoices based on fixed rates.
This feature also gives an insight into how much a project costs and how resourceful is a particular employee’s contribution to the project. The organization can then take necessary steps if the statistics are not satisfying.
AI is Crucial to Time Management Applications
The above-mentioned AI features ensure that you get the best out of a time tracking software. They can make impactful changes to transform your organization by facilitating daily operations. Which of these AI features are of the most importance for your company? Share them with us in the comment section below.