Resources to Manage Time

Helping your teams effectively and efficiently use their time is critical in moving projects from an approved proposal to final completion. The time it takes to do that directly impacts each project’s profitability. Just like you evaluate core business technology that can give you a competitive advantage, smart companies are looking at time management resources that can also offer an edge. Arming employees with simple time tracking and management tools can help organize teams and ensure that all time is accurately captured. These resources turn time - and how it’s treated by your teams - into profits.

Time Tracking Systems

We agree with the statements presented in George Stalk, Jr.’s article "Time - The Next Source of Competitive Advantage" - "To win the game, time tracking must be treated as a core business process, feeding both competitive and functional strategy development. What remains unmeasured and unseen cannot be controlled. The ways in which leading companies manage their time-in production, in new product development and introduction, in sales and distribution-represent the most powerful new sources of competitive advantage."

Web-based time tracking systems enable companies to manage projects more profitably by allowing them to:

• Control costs and increase profits
• Stay on schedule
• Leverage project information on demand
• Automate and itemize billing
• Capture expenses
• Maximize revenues
• Shorten the cash flow cycle
• Leverage billing information on demand
• Improve payroll systems
• Increase productivity

Ask For Help

Web-based resources aren't the only tools available for increasing project profitability. Outsourcing non-core parts of your business can decrease employee work load and increase profitability. This type of resource allocation immediately gives time back to employees allowing them to focus on critical-path items that make money. Projects can be easily tracked and billed, and vendors who specialize in your outsourced area are motivated to keep your work. Outsourcing a detailed, time consuming task - like payroll - often becomes easier to manage and more cost-efficient.

1. Client-facing tasks that impact how clients receive services, products and communications
2. Internal tasks that do not impact a client’s experience

Items that fall in the second group may be good candidates for outsourcing. Another way to approach outsourcing is to consider if a task creates income or profit. If it doesn't, outsourcing the activity will allow your employees to focus on projects that impact your bottom line.

Engage Your Troops

Leaders who assign value to time, and properly allocate resources, will see a change in employee attitude. Employees will want to make sure that they are working efficiently making every hour of every day as productive and profitable as possible. Time management can make a difference. When people take time seriously, and treat is as a limited resource, employers are surprised by how quickly profits improve.

Standard Time^®

Standard Time^® offers simple, intuitive time management tools and timesheets, helping employees make work more productive. Our easy-to-use, Web-based tools help coordinate projects, tasks and processes that can increase accountability and shorten timelines. Clearly defined tasks, with due dates and reminders, keep projects moving forward and help employees allocate time and resources. Download a copy today, and experience the benefits of Standard Time^®.