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Managing Remote Businesses with Tracking & Billing

How organizations use tracking and billing tools to effectively manage their remote businesses

Time Tracking & Billing Software
18 March, 2018

Nowadays, remote and virtual businesses have become very popular, and managers can oversee their companies’ operations regardless of where they are. Modern technological innovation particularly has provided the business world with fresh ideas for better collaboration and communication.

However, as simple as it may sound, various factors determine if a business operating remotely will succeed. For instance, there is a strong correlation between technology and remote business. In fact, any remote business that wishes to do well should equip itself with modern tracking and collaborative solutions, since they offer the flexibility and convenience that is needed in this industry.

Why companies prefer a remote work strategy?

• Recruit and retain top talent regardless of where they are located – Businesses that hire remote employees have the benefit of not being restricted to the local talent pool.

• Keeps overhead costs down – Opting for a remote workforce allows businesses to save on rental fees and other limited resources. Since a lot of remote employees are contractors, it also cuts the cost of the payroll tax and other benefits which would otherwise be incurred if a business opted to hire in-house staff.

• Strengthen the company culture – It’s a fact, remote workers are happier workers. Given the flexibility and freedom to work remotely, workers are likely to stick around a lot longer compared to if they were assigned to the office every day.

• Focus on what’s important – Embracing a culture which encourages a remote workforce allows an organization to focus on fundamental business issues, as opposed to dealing with office politics.

• Remote employees are saving the planet – Think about how many cars remote workers are taking off the highways by just staying in their homes. Obviously, this translates to reduced emissions as well as reduced fuel consumption.

Besides the many benefits, how is a company then supposed to handle the never-ending logistical matters that become even more complicated when some workers operate remotely?

Tracking your remote workforce

When dealing with remote workers, companies need a comprehensive monitoring system to track their employees’ time, projects, and overall productivity. For instance, if you are paying your remote workers by the hour as opposed to using project rates, you should consider keeping an eye on their time usage. At times, when you let remote employees time themselves, it’s obvious that there will be no transparency. Some users may assign themselves additional hours just to be remunerated more.

A time tracking tool, therefore, can help you allocate your remote employee’s different assignments and get an exact impression of their workflow including the hours spent on each project. Knowing their time is being monitored, remote employees become keener on their daily output. Conveniently, they become more motivated by just knowing their overtime, vacation and sick leaves are taken care of properly, regardless of the country, state, and region they are working from.

Most outstandingly, with a time tracking solution, maintaining compliance with DOL and DCAA guidelines becomes a breeze. Organizations can verify the hours their remote employees have worked and even have access to accurate periodic reports, should an audit be needed by the authorities.

Go ahead, give it a shot

Without a doubt, managing remote workers can be a bit overwhelming compared to managing those you encounter physically every day in the office. Fortunately, there are various tracking tools like AccountSight, which not only keep the workers in check but also help the productivity of the company soar in the process.

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