Time-tracking Software Vs. Accounting Software. Which one is the real necessity?

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Time-tracking Software Vs. Accounting Software. Which one is the real necessity? 1

When we are talking about a time-tracking software, what do exactly we mean?

Time is the most valuable asset of every company. Because a company can buy any lost asset by money but cannot re-earn the lost time.  We can earn profit more than our previous loss, but we can never find the lost time that we had before. All the “Available time” will belong to the present and future and we can only hope to use our future opportunities vigilantly by using organizational time management techniques and tools.

But the sad news is that in reality, money is more valuable for us than time.  We are careful about our money and count it every day but we waste our time easily. This is true that we cannot save our time in banks, but we spend a lot of time in banks for saving our money.

 We have developed accounting processes, systems and software products for tracking our money and assets. Every company is using accounting software and unfortunately, time-tracking software solutions are not widespread as accounting software products. Besides psychological and motivational issues, maybe the main reason of the situation is that “Time” is not tangible enough and although it seems that we are busy and facing lack of time problem, but all the times we do not have a feeling of real scarcity. There is always a “Tomorrow” and “Tomorrows” which will be available to compensate what we had lost by our bad planning, carelessness or ignorance.

time-tracking software can provide real credit for our company.
The real question is that money or time, which one is the real credit?

Although an accounting software product provides only financial information, a time-tracking software solution outputs are not limited to any specific type of information. It can deliver a variety of information about your human resource, the ways that they think, plan and work. You even may find their perception about their job via their daily time reports (timesheet). It offers reports about project management, costs (Yes Costs! Because you pay for the time of your employees), customers, contracts, efficiency and effectiveness and some other aspects of your company.

So time-tracking software solutions are not widespread as much as accounting systems because understanding the reports, measuring efficiency and effectiveness and choosing corrective actions and establishment of a PDCA (Plan, Do, Check, Action) loop are not as easy as registering costs and incomes!

If you want to manage your company you have to measure it. Time-tracking software is a tool for company measurement. There are plenty of time-tracking software solutions. teemTIME is one of the bests. Try it for free and enjoy your new knowledge of your company.

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