Time Tracking Data Helps With Project Forecasting
For some small businesses, project forecasting is extremely difficult and there's often an element of guesswork involved. If you overestimate you might lose out on the work to another organization that quoted lower, but if you underestimate you might risk losing money overall. With the right time tracking app, managers and business owners have access to data that can help them forecast for projects with a much higher accuracy for estimates.
Time data allows you to see how everyone on your team has spent their time for higher accuracy of project forecasting. Analyze data based on team members, and time spent on projects, clients, specific tasks, and individual employees to gain a truly holistic understanding of the everyday running of your business.
Not only does this help you improve efficiencies on existing projects, but you’ll be able to take these learnings and apply them to future bids, jobs, and forecasts to reap the rewards.