Time Tracking Software

What is Time Tracking Software?

Time tracking software applications are used to record and analyze employee, contractor and consultant time spent on jobs and tasks. These applications will often include the capability to generate invoices based on the time spent on client-related activities. Some HR management platforms , workforce management software and project management software products have a robust time tracking component and are therefore included in this category. Some examples are:

• HR management products: Kronos Workforce Ready and UltiPro

• Workforce management products: ADP Enterprise eTIME

• Project management products: Unanet

At a basic level, they track employee names with dates/times worked, replacing paper timesheets and/or expense reports. Depending on the complexity of the tool - whether it is designed for freelancers, small teams, or large hierarchical organizations - it may track additional parameters. These can include pay rate, location, department, project, etc.

More complex tools may also offer project management features, and/or integrations with third-party software such as:

• project management

• professional services automation

• expense management

• CRM

• Payroll

• accounting systems

Mobile functionality is especially important for tracking employee time at multiple locations, or with remote workers and contractors.

Use Cases Based on Company Size

Time tracking products designed for use by freelancers frequently include timers, notifications, or productivity reports designed to help them manage their time efficiently. These tools also give individuals the ability to create simple invoices and collect payments through the app.

Time tracking products designed for teams usually include reports to help managers understand how employee time is spent, generate accurate project estimates, and allocate resources.

Time tracking products designed for enterprise-size companies usually include policy compliance mechanisms, to enforce company policies about overtime, expenses, etc. They also typically integrate to payroll software for more accurate, automatic project-based payments.

Features & Capabilities

Not all vendors offer the same breadth of features, however, these are some common time tracking software capabilities:

• Employee time tracking

• Employee scheduling

• Employee GPS tracking

• Employee paid time off (PTO) tracking

• Automated employee reminders

• Overtime tracking and alerts

• Time-per-task analysis

• Project tracking

• Reporting

• Invoice generation

• Mobile application

• Integrations (e.g. with payroll, accounting, and HR management software)

• Labor law compliance

Pricing Information

Most vendors offer a free trial of their product which typically lasts between 14 days and one month. Time tracking solutions are priced on a monthly subscription model, per active user. Prices for plans generally range between $5 and $15 per month per user.

However, larger HR management, workforce management, or project management software suites may be more expensive than time tracking point solutions.