Time tracking – Calculate your team’s time

Time is a very valuable resource for an IT company and, once wasted, it cannot be recovered. Therefore, it is important to control the time spent by your team through the time tracking.

Recording hours in spreadsheets or on paper is a thing of the past. Today, project management software allows activity time to be controlled automatically. 

What is it time tracking ? 

The literal translation of time tracking It’s time tracking. It is a method for controlling and recording the hours worked on an activity by an employee or team. 

With the growth of the IT market, the search for success has become increasingly competitive. To stand out, you need to organize yourself correctly, seeking strategies that enhance productivity and the quality of results. 

It is in this sense that controlling your team’s time becomes essential. With the time tracking, it is possible to analyze which activities are demanding the most effort from employees.

This feature allows you to locate obstacles in the workflow, as well as bottlenecks that hinder the delivery of results. This way, strategies can be created to optimize your team’s process. 

Time tracking has been used for a long time. However, registration was done manually, using sheets of paper or, more recently, through Excel spreadsheets. 

With the advancement of technology, today it is no longer necessary to control the hours worked by your team manually. Task management software allows this functionality to be performed automatically. 

This way, the team can focus on what is most important: executing activities. 

What are the benefits of time tracking?

THE time tracking makes it possible to identify which activities are demanding the most effort and locate obstacles that are hindering the process. Furthermore, the resource can be used to manage your company’s costs and charges. 

Teams that know how to recognize setbacks and failures in processes stand out when it comes to the quality of deliveries. 

Turn your team into a high-performance team with intelligent time management provided by time tracking Do Hypo.

Realize o time tracking of your team with Gipo

As already mentioned, the project management tools and time make time recording simpler and more automated. 

With Gipo, you can easily control the time spent by each user on a task. Additionally, you can configure the tool so that your team members have to report what was done with each time entry made. 

It is also possible to estimate the number of hours that will be needed to complete each task. This helps to set deadlines for both the completion of activities and the project as a whole. 

Gipo also provides complete reports with the hours spent on each project. This makes it easier to create analyzes and present to the client what has been done in a transparent way. 

Time tracking for project costs

Now you know how the time tracking can help increase productivity and optimize results. But it is important to say that, within Gipo, the time tracking goes beyond just recording hours worked. 

It is also used to manage project costs and charges. But like the time tracking Can it be used for this purpose?

When a user is added to an account, it is possible to define the value per hour worked for this member. Even if the employee is not paid hourly, the calculation can be made based on their salary and their monthly working hours. Just divide the salary amount by the workload. 

With the value of the hour worked, it is possible to define the estimated cost of a task. Each estimated hour will take into account the value of the hour worked by the person responsible for the task. Thus, depending on the number of hours that will be needed to carry out a task, it is possible to establish how much the task will cost. 

The estimated cost is important to have a forecast of how much will be spent on each task of a project. But it can also be used to compare the actual cost of a task. 

The actual cost will also use the value of an employee’s hour worked. But in this case, what will be taken into consideration is the time spent on the task. For each hour spent on that task by the person responsible, the real cost of the task increases, according to the value of the hour worked by the person responsible. 

This way, it is possible to compare the estimated cost with the actual cost. This allows you to analyze the development of the task and analyze how much the task is costing both in effort per hours worked and in monetary values. 

Time tracking for billing for projects

In addition to being used to calculate the estimated cost and actual cost of tasks, time tracking is also useful when it comes to billing. 

In Gipo, it is possible to define the type of charge that will be made at the end of the project. This charge can be defined as a fixed amount, as an amount calculated according to estimated hours, or as an amount calculated according to hours worked.  

In the case of a fixed amount, the charge is made based on a value pre-defined with the client, in the project planning. In this case, the hours will not be considered but the value agreed with the client to execute the project. 

When billing is defined by estimated time, what will be taken into account are the estimated hours for each project task. To do this, it is necessary to define, together with the type of charge, the estimated hourly rate for the project in question. Therefore, the charge will be made according to the value of the hours expected to complete the activities. 

Lastly, charges can also be set to be calculated based on hours worked on project tasks. In this case, it is also necessary to define a value for the hours worked. Thus, the charge will take into account the time spent on each task of that project so that the charge can be calculated. 

With the resource of time tracking, it is possible to know how much is being spent on a project in a simple way. Additionally, you track the amount spent compared to the project budget, define the estimated time for the tasks and establish what type of billing will be. 

Did you see how Gipo’s time tracking can help increase your productivity and optimize your results?