In today’s connected world, technology is essential for increasing business productivity. 92% of employees say using technology that helps them perform their job efficiently improves their work satisfaction, a study by Ultimate Software reveals. Additionally, 53% of employees say mobile apps boost business processes and productivity. Project time tracking software, collaboration tools, and scheduling software are some major innovations helping businesses stay productive and achieve their goals faster.

Project time tracking software

Chasing after timesheets is typically a time consuming and inefficient process, especially when they’re full of errors or the same data has to be entered on numerous other systems. With project time tracking software, businesses are better able to streamline and keep track of expenses for various projects all in one place, time tracking experts at Journyx explain. Time tracking software or a contract tracking software solution easily integrates with payroll and accounting programs to track either employee or contractors time and expenses for projects, payroll and billing. Whereas IT projects go 45% over budget and 7% over time on average (meaning only 56% of expected revenue is generated), this software can help you understand, track and adjust the true cost of projects — therefore helping businesses make more informed decisions, and minimizing the risk of overspending and profit loss.

Collaboration tools

A successful business thrives on collaboration between team members. With collaboration tools, teams can work on documents together with greater efficiency. Using emails to collaborate on documents is now an outdated and inefficient method: employees can never be sure they’re working on the freshest version of a document, which causes confusion and wastes time. Collaboration tools, on the other hand, let team members see the history of edits made to the file, receive notifications as soon as changes are made, and alert team members who need to be made aware of the changes. Workflow, productivity, and teamwork is therefore improved. With this software, there’s no longer any need for organizing and attending meetings to discuss documents worked on. This can also save money, as businesses lose $37 billion every year due to unproductive meetings. Collaboration tools eliminate time-wasting and unproductive meetings in favor of simply editing a document, sending an update to team members, and waiting for their feedback.

Scheduling software

Scheduling software is a simple adoption that can make a huge impact on productivity and profits. In particular, calendar software allows businesses to schedule meetings, coordinate appointments, create reminders, and organize tasks and goals, which collectively helps streamline the day-to-day activities of the entire organization. As such, the risk of overbooking or overlapping meetings can better be avoided. For example, is a calendar app compatible with both mobile and desktop platforms. It links up with existing calendar apps to import events, and color codes different calendars and events to improve organization.

Technology is now playing a key role in boosting business productivity. Project time tracking software, collaboration tools, and scheduling software are some of the latest useful software releases improving workplace collaboration and efficiency.