Time Tracking Software
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Time Tracking Software TrustMap
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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:
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:
professional services automation
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 team and project 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 GPS tracking
Employee paid time off (PTO) tracking
Automated employee reminders
Overtime tracking and alerts
Integrations (e.g. with payroll, accounting, and HR management software)
Labor law compliance
Time Tracking Software Comparison
When comparing time tracking software, consider these factors:
Timesheet Management vs. Productivity Suite: Are you looking specifically for a tool to track time for yourself or your team? Or do you need a system that pulls in other productivity functionality, like scheduling, project management, or activity monitoring? There are some core products that specialize in time tracking specifically, but many products have specialized to include unique capabilities. Consider what scope of features is the best fit for your organization.
Use Case: What scale and industry are you buying the time tracking software to serve? Freelancer and small business-focused products will be much cheaper, and more stripped down, than midmarket and enterprise-focused systems. Some time tracking products have specialized for certain industries, such as the retail or restaurant industries.
Accounting Integrations: Consider what financial systems the time tracking software will need to integrate with. These systems are usually accounting platforms or payroll software. Robust integrations dramatically reduce the manual workload associated with determining hourly compensation, invoicing, and other financial processes that are based on time worked.
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.
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