Cloud time tracking comes to Sydney
White collar professional services contracting firms will optimise workforce productivity, reduce compliance risk and gain insight into business operations via cloud based time sheet tracking, according to software company Replicon.
Building on its international footprint, Replicon expanded into Australia and New Zealand in October.
Replicon’s VP of sales John Kearney said a business’s most costly commodity was wasted time, and that businesses using outdated and manual time tracking systems could be leaching time without their knowledge.
A Replicon survey of professionals in June 2013 revealed 87% of respondents had concerns about their current time tracking system and 45% said the data was inaccurate.
Respondents also had concerns with transparency, the cost and compliance of their system.
Kearney said Replicon’s cloud based solutions were designed for use in a mobile and modern workforce, and the smart phone apps meant users could photograph receipts and file them electronically while on the road.
He said a benefit of tracking time was being able to accurately predict how long tasks take so that when slippage occurred in projects, the problem could be identified and adjusted as needed in future.
Time better spent
Replicon’s survey compared the time spent updating a manual paper-based system against an in-house system and a cloud based system. In all measures, the cloud base system saved the organisation time.
Replicon said nearly 70% of businesses surveyed spent at least 15 minutes per employee reconciling, auditing, and processing timesheets. More than half said they spent longer than 15 minutes per employee, and 50% said their employees spent a minimum of 15 minutes per week filling in time sheets on line. Nearly 90% said employees spent a minimum of 15 minutes each week filling in paper-based time sheets, which halved when using a cloud based system.
The survey found more than half of respondents believed the system would improve data accuracy, which would increase workforce planning accuracy and productivity.
Respondents reported errors in 96% of timesheets completed manually, leading to time consuming corrections.
Original Source: Thomson Reuters