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Time & Attendance for Engineering Environments
- James Frost
In many engineering and IT environments, the main focus points back to security. That’s because the success of many firms relies heavily on protecting their intellectual property.
Along with security, engineering firms must also focus on managing their workforce in order to maximize ROI on every project. This starts with tracking how much time your engineers and other professionals dedicate to every phase of a project or product initiative.
Tracking Time to Support ROI
No new product or service, or iteration of an existing product or service, happens all at once. Updates and launches occur after months or years of planning, development, prototyping, and testing. And that’s before a product makes it to market, after which a firm must continue to offer technical support, gather user data, and eventually launch into yet another iteration.
When each step in a product’s journey is tied to specific budgets and costs, you want to make sure that the software you use to track employees’ time helps you avoid cost overruns, and maximizes your ROI at every turn. That’s where time & attendance software such as stratustime can come into play.
Maximizing security and ROI are major concerns in professional environments that depend on their intellectual property. How does your workplace stack up where things like time theft are concerned? Take our Time Theft Test, and learn more.
Workforce Management for Engineering Firms
There are many cloud-based workforce management tools today. Many of them are meant to support various HR functions. Some are built around solving payroll needs, while others target recruiting and onboarding. But what about time & attendance for tech and engineering environments?
Next-gen time & attendance software such as stratustime can help engineering firms add new controls to operational management functions.
Depending on the size and focus of your engineering firm, it’s possible that a group of dedicated employees or teams oversees a variety of operational pieces related to product development, testing, QA, delving into data, and even the ideation of future iterations. Then, there are those who spend time in the field speaking with customers and vendors, perhaps even supporting marketing and brand development.
In such an environment, tracking time & attendance should not be an afterthought. In fact, your time & attendance software might be the missing link that helps your engineering firm maximize the time and effort that team members put into various phases of product design, development, messaging, and support.
Maximize ROI, and keep ahead of management issues related to time & attendance with stratustime.
In many tech and engineering environments, your project leaders are the ones who keep jobs on target. stratustime gives them, and your entire firm, another tool to help stay on budget, track project costs, avoid overruns, and even prepare future budgets and RFPs.
With stratustime as your dedicated time & attendance solution, you can bring the following into your engineering or tech environment:
1. Tools that go beyond tracking time and schedules
Employees at all levels can track their time within projects by specific codes, no matter how many phases a project includes.
- Setting details within projects can provide you with key insights that help you uncover why certain phases move faster than others, and where your previous budget projections might have been out of step with the project’s actual demands.
- Meanwhile, key reports can help hiring managers and senior leaders scale teams at different parts of a project’s journey, and provide a broad view into employee schedules across a project’s lifetime.
2. More insight when it’s time to scale
The data you derive from stratustime can help you prepare future RFPs, or generate reports that leaders and investors will find important. And, the system makes it easy for you to generate and review reports to see how well your proposed budgets line up with actual costs.
- You can use this information to build out future estimates, and base budgets on hard data.
- With a deeper view into the actual costs of a current project, you can plan to scale for future projects or product developments. Doing so can be a big benefit to your engineers and support teams.
Is your time & attendance software delivering what your firm needs? If not, then it might actually be creating gaps in your operations, and causing you to miss your ROI goals. Whether your IT or engineering team is growing, or you’re struggling to grow because of budgeting, it might be worth exploring the ways you track time across project phases.
Across tech and engineering environments, rely on a trusted time & attendance solution that is about much more than just tracking time. stratustime’s SaaS model is built around what companies need today and tomorrow. Give us a call, and learn more about all the ways we can put stratustime to work for you.