We have all heard the phrase that time is a precious resource, and with home life as busy as work life, managing time is an essential life skill.
Tracking costs in your business starts with tracking time expended on projects and tasks. Most businesses track time in some way, some are more sophisticated than others. Systems include:
* Time and attendance systems
* Time tracking software
* Specialist scheduling software
* Project planning and management tools
Time & Attendance systems
These systems are widely used in manufacturing, engineering and retail sectors. They allow management and staff to clock-in, clock-out, and run reports for payroll use. Other benefits include using the data for safety and security purposes.
Time tracking software
For organisations just needing to track time to tasks, with simple reporting, there are several solutions available. Make sure that you choose a solution that also allows expenses and costs to be tagged to the calendar too.
Specialist scheduling software
Most Manufacturing Resource Planning (MRP) and Enterprise Resource Planning (ERP) software systems have a powerful production planning module. If your organisation needs sophisticated scheduling with physical resources such as engineering plant and machinery, CAD/CAM systems, production lines, surface mount technology (SMT) lines, as well as people, then you should consider investing in an ERP or MRP solution. Tracking costs in your business can be fulfilled with a simple software solution, or be a module within a sophisticated ERP solution.
Tracking costs in your business, and tracking time and using task management software will help you plan better, prevent resource conflicts, and ensure that everyone has a personal schedule and view of their tasks over a period of time.