Essential Tech Tools To Help You Run Your Business More Efficiently

Business technology tools like time tracking, document collaboration, and expense tracking software can help increase productivity, teamwork and efficiency.
business technology tool

Workplace efficiency is increasing in the US — total hours worked grew by 1.2% in 2019, while total output saw an impressive 2.4% increase, according to the U.S. Bureau of Labor Statistics. This promising progress has been made possible by the influx of innovative technology facilitating and improving all areas of business management. In particular, tech tools like time tracking, document collaboration, and expense tracking software and apps are some of the best ways business owners can ensure maximum workplace productivity, teamwork and efficiency.

Time Tracking Apps

Time tracking apps are an essential tool for boosting workplace productivity and streamlining how you manage your business. In particular, with this mobile technology, employees can track their time spent working remotely or in-office, time tracking experts at Journyx say. In fact, the American Payroll Association estimates that every employee loses an average of ten minutes daily due to lateness, long lunches, and leaving work early. Time tracking software allows you to easily identify and correct personal or operational habits and distractions that hinder efficiency. Employees are also able to plan their work and goals every week with a greater degree of accuracy. The awareness that their time is being tracked can even be all that’s needed to boost employee productivity.

Document Collaboration

Teamwork is a must for a thriving business. In fact, 86% of employees and executives say poor communication and collaboration is the main reason for workplace failures. Fortunately, document collaboration tools like Google Drive and Dropbox give teams a more efficient way to work on projects together. Each team member can view, edit and work on documents simultaneously without needing to send multiple emails to each other with the same attachments — which can often unnecessarily clog inboxes with repeat information. Everyone will always be working from the same version of the same document, and you can either work together in real-time or check edits made later on whenever you have time. As a result, brainstorming, productivity, creativity, and problem solving in the workplace increases.

Expense Tracking

Accurate expense tracking is a top priority for any business owner. However, continually collecting and organizing receipts and invoices is often a challenge. Expense tracking software like Expensify and Zoho Expense simplifies this process as much as possible. In fact, it can provide you with a variety of tools that can take care of all your financial tasks, including tracking income and expenses, sending invoices, making payments, and creating expense reports. With the ability to quickly scan and photograph receipts with your smartphone, you can quickly organize and submit important financial information. In fact, some apps provide you with the ability to share documents with your accountant and even file your taxes.

Effective business management is one of the biggest keys to overall business success. Implementing useful tech tools like time-tracking, document collaboration, and expense tracking apps and software in your business will improve productivity, efficiency and teamwork.

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