Time is Money, So Economize
- October 21, 2015
As it turns out, Bill Gates has a worth of seventy-two billion dollars. If you applied a six percent return rate onto that worth, that means for every second Bill Gates is alive, he earns $114.16. If he was on his way to a meeting, saw a hundred dollar bill, and stooped to pick it up, it would cost him at the very least fourteen dollars and sixteen cents.
Image by: Ramin Talaie/Getty Images
The message here? Time Is Money. While not everybody’s time is worth that much money, yours is definitely valuable in a way that is directly quantifiable. So what makes sense is to consolidate that time in any way possible. Unfortunately, it’s very easy in the modern world to fall into a trend which doesn’t actually save any money, though it may purport to. So you’ve got to go with vetted options. Learn which technologies and trends are really worth getting behind, and which ones aren’t.
One trend that’s surely worthy of consideration is the technology behind modern timesheet software. What this boils down to is employee time tracking through any kind of mobile device or computer. All of this information is then stored in secure cyber space that deftly quantifies it so you don’t have to. This means collaterally the information is securely stored in a fallback location. It’s not exactly cloud computing technology, but it’s a very similar application.
Notice in the stock-photo of clouds and sunset pictured above how spread-out said clouds are across the background. As a metaphor, cloud-computing could be described in a similar way. Imagine each of the smaller clouds represents a backup. The thing is, data needs several kinds of backup. It needs physical backup. It needs digital backup, and in the modern world, you should also consider backing the data up to a network independent of either your organization’s physical backup, or their digital one. That way you have the data securely retained come what may. According to Wikipedia, shared resources are effectively maximized with cloud computing. Digital timesheet software can do that automatically, also in collateral.
There are further benefits to digital timesheet software that allows for employee tracking from any computer or mobile device. Besides saving exceptional amounts of time–some reports are that the time it took to do payroll was two weeks before they installed cogent timesheet software; after which it became twenty minutes–timesheets can be reviewed and approved online in minutes. Payroll reports can be run in just several clicks. Furthermore, the best software keeps a complete audit trail, allowing you to monitor activity directly and correct discrepancies much more quickly and smoothly.
A well-vetted service used by businesses as notable as Comcast and Pepsi is Clockspot.com. Their amenities include everything mentioned here, and they’ve got a great number of other advantages in the same vein. What really recommends them is a free thirty day trial; which means you can test their software to see if actually yields the time-saving results emphasized in this article. Because that, at the end of the day, is what it boils down to: the economy of time. Imagine cutting an eighty hour week out of the payroll every month. At twenty dollars an hour, you’ve just saved 1,594.44$. Any business can afford to save nearly 1600$ a month. And that’s why it’s important to keep up with contemporary trends; some can just erase previously required operational expenses. And some don’t. But timesheet software that can be accessed on any mobile device or computer is definitely a time and resource saving enterprise as vetted by many corporations, and well-worth giving a shot for a month.