Replicon Survey Uncovers the Pain of Time Tracking

SAN MATEO, Calif., – October 7, 2013—Replicon, the global leader in cloud time tracking applications, has announced the release of its new survey, “Lies, Damned Lies and Timesheet Data,” which quantifies the challenges with traditional time tracking approaches. It also explores popular conceptions on the impact of cloud-based solutions for time tracking.

“To avoid the many problems that can come with time tracking, companies must manage time as an enterprise asset,” said Raj Narayanaswamy, co-founder and co-CEO of Replicon. “Again and again, we are finding that the cloud is the best process for tracking and managing time. It is the only way to attain true visibility into how time is used across the organization. Our survey has shown that businesses can use the cloud to become truly modern organizations.”

Time Tracking: An Ongoing Challenge

Every year, dysfunctional time tracking processes cost companies millions of dollars. In today’s mobile era, when work happens anytime and any place, manual time tracking processes are not keeping up. And when enterprises do not capture, record and verify every hour worked, they face inaccuracies that lead to revenue leakage. Moreover, manual time tracking processes are not transparent or centrally accessible, exposing companies to compliance issues.

In order to explore the true scope of the problem, Replicon asked 432 professionals responsible for employee time tracking about the challenges that time-tracking solutions create for their business. The results were astounding:

  • 87% reported challenges with time tracking
  • 96% said employees make mistakes
  • 32% of solutions lack visibility and insight into resource usage
  • 16% of solutions used at large companies do not meet compliance requirements

Shining Light on the Cloud

Usability is a significant source of time-tracking challenges. 50% of users said they don’t like entering their information. The cloud presents a cure. In general, cloud-based time tracking was seen as more efficient than on-premise, in-house, paper or punchcard solutions. Those surveyed indicated thought that employees, managers and payroll workers could all benefit.

  • 77% would consider cloud-based solutions for time tracking
  • 56% believe cloud-based solutions optimize time tracking processes
  • 53% believe cloud-based solutions would improve data accuracy
  • 44% see value in improved time tracking productivity

“Replicon software keeps us on track,” said Neil Harrison, technology director, Airsweb. “It allows us to identify where project overruns occur, so that we can identify the root cause and take corrective action. Time tracking processes are now 60%-80% more efficient compared to our previous system, data accuracy is improved by 75%, and errors are reduced by 60%-80%. Plus, implementation of Replicon TimeCost was second to none.”

To view a full report of the “Lies, Damned Lies and Timesheet Data” survey:

Download PDF Version

Survey Methodology and Participant Demographics

In June 2013, a database of business professionals was emailed an invitation to participate in a Web survey on the topic of time tracking. A total of 432 individuals with responsibility for purchasing time tracking management applications completed the survey. Participants included a wide variety of stakeholders including business managers, IT, finance, human resources and others. The companies where the participants worked represented a wide range of sizes and industry verticals.

 

Get started today.
Set up a free trial based on your business needs. Start Free Trial

A Leading Large IT Enterprise Unleashes Higher Business Benefits and Values With Accelerated One Platform Initiative

This blog is part of the digital transformation journey of a very Large IT Enterprise and their journey to modernizing their time tracking ecosystem. Check out part 1 and part…Read More

Can Automatic Time-tracking Software Be Tricked?

The workplace ecosystem has undergone a dramatic change as technology has steadily spread into offices in the past years. But the pace of change has been blinding of late. One…Read More

Global Compliance Desk – California

California Supreme Court Holds Meal Period Premiums Are Wages The California Supreme Court, on May 23, 2022, in Naranjo v. Spectrum Security Services, Inc., P.3d (2022), issued an important wage-and-hour…Read More

Demystifying the millennial workforce: 5 tips from Trunk Club’s Andrew Anderson Devine

Time magazine labels the millennial generation the “most threatening and exciting generation,” infamous for “narcissism [and] its effect: entitlement.” In the workplace, the perception of the millennial workforce is no…Read More

Time and Attendance Orientation Guide

In a growing business, the day will eventually come when managing time and attendance on paper becomes both inefficient and risky, especially when trying to balance things like overtime, paid…Read More

Using shared services? These five technologies are a must

As organizations continue to scrutinize operating costs and look for areas to drive efficiencies, shared services centers (SSCs) are a no-brainer. The concept of a multi-function SSC has been around…Read More
  • Polaris
  • Time & Project Insights
  • Time & Projects Solutions
  • Replicon Products
  • Replicon Users
  • Enterprise Time Tracking
  • Thought Leadership
  • Cloud
  • Corporate
  • Professional Services Management
  • Shared Services Management
  • Time and Attendance Management
  • Customer Feature
  • Time Intelligence
  • Industry News
  • Global Compliance Updates
  • Others