Love it or hate it, time tracking is a daily commitment that takes discipline. For some people, it’s about as much fun as washing a sink of dirty dishes. Others may enjoy the opportunity to reflect on what they’ve accomplished over the course of the day. Whatever camp you fall into, with Jira time tracking software, daily time tracking is easier because of its seamless integration with Jira.
Tempo Timesheets, the leading Jira time tracking software, is also very valuable to managers looking for insights. There are a few reasons this application is worth the effort and commitment:
1) You can forecast how long it takes to complete projects.
It’s common to underestimate the amount of time a project will take. With the data provided by work logs, you can assess how long it will take to finish a given assignment. You will have a basis for projections and can set more reasonable deadlines.
2) You can get valuable insights.
A big company can create hundreds of thousands of time logs over the course of a year. It’s not easy to navigate that amount of information unless you have the right tools. In this case an Excel sheet isn’t going to cut it. With Tempo Reports, you can learn all kinds of interesting things about your business. For instance, you can see how much overtime an employee worked on a particular project. You can answer questions like, does one employee tend to work more hours? Are employees spending too much time on low-value tasks?
3) You can build reports to support R&D tax refunds.
Having Tempo Timesheets means you can use the reports to support R&D tax refunds. By using Tempo Accounts to group time spent within the organization into spending categories and cost centers, you'll benefit your accounting at the end of the year. Then it'll be easy to see where your company’s efforts are going. Read a success story of a company using Tempo for R&D tax credits.
4) You can track CAPEX and OPEX.
Similarly, Tempo’s easy time tracking means you can measure and report on CAPEX and OPEX with precision. All you have to do is set up Tempo Accounts to more easily organize work into categories. Check out our webinar on tracking CAPEX and OPEX here.
5) You can track billable hours.
One of the most common reasons for using Jira time tracking software like Tempo Timesheets is to track billable hours. This functionality can really come in handy for quickly invoicing customers with an accurate amount of time. If you need to gather data to send out invoices for work done by your company, Tempo can help. What’s more, once you have identified the non-billable tasks where your team spends the most time, you can work to minimize them. In identifying which client creates the most non-billable hours, you can address the problem, whether that means changing the pricing on projects or reconsidering your relationship with the client.
There’s a lot more that Tempo's time tracking software can do for your business, from increasing the efficiency and productivity of your employees to saving money.
Is tracking time right for your business? Consult our guide to time tracking and learn more about the benefits.