What is a Timesheet
What are timesheets for?
Sometimes timesheets are used to log time worked for purposes of calculating:
- Payments to the worker
- Billing to the client
But more broadly, they are used by companies to build up their visibility of how their projects are progressing. The understanding of time spent across the business is a crucial element in knowing which projects are on track and which are profitable or loss-making. Such information also leads to better scheduling and hiring decisions, both of which have an enormous impact on client service and business success.
Time is often a company’s most precious and most costly asset, so it’s hardly surprising that businesses need to understand the use of time right across their organisation.
Big users of timesheets include creative agencies, environmental or engineering consultancies, and professional services firms. The time they need to track is nuanced by the many types of role that their teams have, the multiple jobs that a person can be working on, and the multiple billable rates of individuals.
The importance of ease of use
The combination of smartphones, Cloud-based systems, intelligent user interfaces and fully-integrated project management software has led to a step change for the impact timesheets have on a business.
Ease of filling them in is a case in point. Workers – wherever they are and at any time of day – can receive smart prompts on their phone application, guiding them towards the right job numbers and descriptions, speeding up the process and reducing errors.
This has led to higher levels of timesheet participation. The greater the participation, the more accurate the information base. In comprehensive project management systems, the vast majority of employees connect themselves with the live information several times a day, and of course anyone managing projects or clients will use it extensively.
One benefit of all this is far better-informed decision-making across the business. Therefore good crafting of a timesheet’s user interface is not merely a simple matter of aesthetics. It leads to improved efficiencies, healthier profit margins and safer business decisions.
You can learn more about the true value of having online timesheets that integrate with the rest of your business information on the Synergist timesheets page. And below is an example of what an online timesheet might look like.