Most business owners know how important it is to keep track of how employees spend their workday — this data will, in fact, will help you allocate the right resources to different projects, compensate employees proportionately during the year-end appraisal, and manage shifts, among other things. If you currently use an outdated time tracking method, like punching cards, Excel sheets, or time clocks, it’s safe to say that you can benefit significantly from investing in timesheet software.Â