Time is money, as the saying goes. But how can you maximize your time, whether you’re a freelancer, employee, or business owner? How do you track your time accurately and efficiently to boost productivity and profitability?
I’ve tested the top time trackers and employee monitoring software across the most relevant categories for time, productivity, and profitability tracking. By the end of this article, you’ll have a clear understanding of which time-tracking software and employee-monitoring tools suit you and your business best. Let’s dive in!
Time Analytics – Powerful Billable Hours, Fee, and Expense Reporting
Time Analytics monitors all key elements for enhancing profitability, enabling users to set and track rates, fees, and expenses effortlessly. The information is readily accessible, aiding management in planning future steps with ease.
The platform offers precise and flexible time tracking without any hassle. Personally, I appreciate the one-click start/stop timer and the ability to manually add and edit time entries. Jobs can be marked as billable or non-billable, and the software generates invoice appendices based on my rates and costs. Additionally, you can view your time in various formats, such as a daily list or calendar, and keep track of time off, overtime, and breaks.
But there’s more. Time Analytics provides powerful reports that reveal the profitability of your work, efficiency in time usage, and overall capacity. You can analyze revenues, costs, and profits for each service and activity, compare billable and non-billable hours, and assess time utilization. The platform also allows you to review team productivity and timesheets, with the option to export all reports in Excel and access them from a sleek dashboard.
Time Analytics boasts a clean, intuitive interface that is easy to use, requiring no training—even for first-time users like myself. I particularly enjoyed the simplicity offered by the Google Chrome plugin.
Key Features
This tool offers customizable rates, expense and fee tracking, both automatic and manual time tracking, online timesheets, comprehensive reports, time off management, and an accurate invoicing assistant to streamline business operations and enhance team productivity.
Clockify – Boost Your Profits and Track Time Your Way
Clockify is a time-tracking software designed to boost business profits. What I appreciate most is its flexibility in allowing employees to track their work hours in multiple ways while enabling managers to oversee productivity, attendance, and billable hours seamlessly.
Additionally, supervisors can evaluate team performance and project progress through detailed visual reports. Clockify simplifies invoicing by integrating tracked time with hourly rates, making billing more efficient. It also helps manage time off and vacation policies and even allows for rewarding employees with extra time off for overtime work.
Key Features
Enhance productivity with organized timekeeping, transparent monitoring, detailed reports, accurate invoicing, and thorough expense tracking to understand overall profitability.
Paymo – a Profitability Booster for SMBs
Paymo is a powerful software designed to help small and medium-sized businesses manage their work and projects remotely. It enables you to plan, schedule, collaborate, and track time and expenses—all within a single suite.
You can monitor project progress and performance using various task views and detailed reports. I particularly appreciated the time-blocking feature, which allowed me to visualize my workweek and allocate time to my most important tasks when I was most energized.
Additionally, Paymo simplifies invoicing and payments by leveraging your time tracking and expense data. You can easily convert proposals into projects and get paid online. Paymo offers a free plan for a single user as well as three-tiered paid plans to suit different needs.
Key Features
Optimize productivity with versatile time tracking, task management, leave management, expense and invoicing tools, and project visualization using Gantt charts and Kanban boards.