BDC Offers Free and Low-Cost Online Timesheet Tracking Tools

The Business Development Bank of Canada (BDC) has published a guide outlining a selection of free and low-cost online timesheet tracking tools for businesses. This initiative aims to assist professional services firms and project-based businesses in managing their time, a critical aspect for accurate billing and profitability assessment.

Manual time tracking can lead to inefficiencies, errors, and delays in invoicing, potentially impacting project profitability and cash flow. Online tracking tools consolidate timesheets in a secure digital location, streamline approval processes, particularly for mobile employees, and provide real-time insights into project financial performance.

The BDC's guide, updated in October 2022, highlights several Software as a Service (SaaS) options. These include actiTIME, which simplifies employee time logging with integration for accounting software; Agendrix, a Quebec-based application for scheduling and time tracking using geolocation; and BigTime, offering time and expense tracking with invoicing capabilities. Other tools like ClickTime and Clokify.me are also mentioned for their features, integrations, and accessibility.

By adopting these digital tools, businesses can expect improved accuracy in time recording, faster invoicing cycles, and better overall project financial management. The BDC's resource aims to equip entrepreneurs with practical solutions to enhance operational efficiency and decision-making.