Press Release

New Journyx Report: ‘Smarter’ Timesheets are the Future of Work

By May 16, 2018 No Comments

This Report Explores How Artificial Intelligence is Changing Time Tracking Applications – and the Workplace – for the Better 

AUSTIN, TEXAS (May 16, 2018) – How is something as seemingly mundane as a timesheet shaping the future of work? A  new report released today from Journyx, How Smart Timesheets are Shaping the Future of Work, explores this topic in-depth, answering this question with data culled from a recent survey conducted in partnership with MSDynamicsWorld.com.

The survey, conducted in December, 2017, focused on how people  track their time, across roles and departments, and how the process of filling out their timesheets could be easier. Garnering 186 responses, the survey underscores the growing need for more intelligent time tracking applications that make the oft-maligned task of filling out a timesheet easier than ever before.

Is there a need for smart time tracking?

The concept of tracking time spent on work is not new – the time clock was invented as the Industrial Revolution brought about the need to track employee time as accurately and efficiently as possible. As such, 78 percent of respondents report having a time tracking process already in place.

The second piece that further illustrates the need for smarter time tracking is work in other types of software applications – such as customer relationship management (CRM), project management, issue tracking, and email. The survey shows that 74 percent are working most of their time within other applications.

Why is this important? Smart timesheets can integrate with other software applications to automatically sync time spent working in those applications to an employee’s timesheet.

The survey then ties this data to a need for smart time tracking by asking the question, Would you use timesheets that automatically populated with data from other applications you already use? An overwhelming majority of 85 percent answered either “Yes” or “Maybe” – showing a clear demand for more intelligent timesheet applications.

Meredith Zachritz, Director of Product Management at Journyx, recognizes the trend in how workers use software more productively. “Knowledge workers already use employee productivity platforms like Microsoft’s Office 365 to tie in to their other business systems to automate processes and reduce duplication of effort,” she stated.  “Email invitations that go straight to their calendars, as well as actions in their CRM systems that generate automatic emails, are examples that are all too familiar and recognized as beneficial.

It’s little wonder then that these same people recognize and welcome the benefit of applying similar tie ins to their timesheets.”

 

The Role of Artificial Intelligence

“Smart” software applications are usually built on a foundation of artificial intelligence (AI) and/or machine learning algorithms, learning from the data inputs to make the user experience easier and more efficient. In order for the application to learn, users need to spend some time “training” their timesheets.

How willing are they to do this, though? According to the survey:

  • 76 percent would be very or somewhat willing if it meant their timesheet would be easier to fill out.
  • 74 percent would be very or somewhat willing if it meant their timesheet would be more accurate.
  • 73 percent would be very or somewhat willing if it meant their timesheet would be faster to complete in the future.

“The respondents in this survey continued to see the value in applying AI to time tracking – even after they were told it would take some of their time up-front to train their new smart timesheets,” Zachritz said.  “These responses suggest that the benefit of faster, easier, and more accurate timesheets is significant enough to not only replace an existing system, but also spend time training the new system to fill out their timesheets for them.”

The full report, How Smart Timesheets are Shaping the Future of Work, is available for download here.

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About Journyx, Inc.

Journyx is changing the way companies measure productivity and profitability with smarter project time tracking. By integrating with a suite of key business applications, such as Microsoft Dynamics, Project, Excel, and Exchange, Journyx allows companies to quickly implement a complete time and expense tracking solution using existing business data. Journyx features flexible accrual calculations, multi-level approvals, mobile entry, data validation, and both local and cloud installation. Since 1996, Journyx has provided web-based time and expense tracking solutions for hundreds of companies around the world. For more information, visit www.journyx.com.