10 Plus Essential Time Management Tools Every Finance Manager Needs

Introduction

Are you tired of spending countless hours juggling tasks? Feeling overwhelmed by your ever-growing to-do list?

If yes, then you’re not alone

Did You Know?

A survey by the Association of Financial Professionals found that 70% of financial professionals have difficulty managing their time effectively, leading to increased stress levels & missed deadlines.

This statistic is an eye-opener for finance managers to manage their time and boost productivity proactively.

However, there’s good news on the horizon.

The rapidly evolving technology landscape has brought forth various innovative tools tailored specifically for finance managers to conquer time-related challenges.

This blog post is your compass, guiding you through a curated selection of 10 indispensable time management tools to help you easily prioritize, streamline, and manage financial tasks & operations.

Time Management Challenges Faced by Finance Managers

Finance managers operate in a high-stakes environment where precision and accuracy are paramount.

However, navigating this complex landscape has its fair share of challenges, particularly in time management.

Here are some of the common hurdles finance managers encounter when attempting to balance their responsibilities without the aid of dedicated time management tools:

Overwhelming Workload

The financial department has intricate tasks, ranging from budgeting and forecasting to compliance and reporting.

The absence of effective time management tools can result in an overwhelming workload that leaves finance managers grappling with a seemingly endless to-do list.

Prioritization Predicament 

Without proper tools, determining which tasks require immediate attention and which can be deferred becomes difficult.

Finance managers often find themselves caught in a prioritization predicament, unsure where to allocate their limited time and resources.

Deadline Dilemmas

Finance is a domain driven by deadlines, whether they pertain to regulatory filings, financial reports, or strategic decisions.

Managing these deadlines without specialized tools can lead to rushed work, compromised accuracy, and increased stress.

Resource Scarcity

Finance managers are often tasked with doing more with less when attempting to squeeze productivity out of a constrained budget.

Without specialized time management tools, finance managers often feel short regarding resources.

Inability to Scale

As operations increase and time-crunched tasks pile up, the lack of effective time management tools can lead to an inability to scale processes.

This is especially true for fields such as treasury and accounting, where efficient scaling is essential for growth.

Having outlined the most common challenges finance managers face regarding time management, let’s look at 10 indispensable tools to help alleviate these issues.

Time Management Toolkit: 10 Must-Have Tools for Finance Managers

1. Workstatus

Introducing Workstatus, the ultimate time management tool meticulously designed to cater to the specific needs of finance managers.

With its intuitive interface, Workstatus empowers finance professionals to track time, monitor project progress, and optimize workflow effortlessly.

Stay in control of your tasks and projects by utilizing Workstatus’ real-time insights and reports, making it the cornerstone of effective time management for finance managers.

Features

Real-Time Time Tracking:

Workstatus offers seamless time tracking, allowing finance managers to monitor their work hours precisely.

Instantly start and stop timers for different tasks and projects, ensuring accurate billable hours tracking.

Project Monitoring: 

Finance managers can effortlessly monitor the progress of ongoing projects through Workstatus. Visualize project timelines, task statuses, and team contributions to ensure efficient project management.

Customizable Reports: 

Workstatus generates detailed reports that provide insights into time allocation, task completion rates, and project trends. These reports aid in analyzing productivity patterns and making informed decisions.

Integration Capabilities: 

Workstatus integrates seamlessly with various project management tools, allowing finance managers to centralize their workflow and streamline collaboration.

Automated Alerts:

Stay on top of deadlines and task assignments with automated alerts and notifications. Workstatus ensures that finance managers never miss a critical task or project milestone.

Client Invoicing: 

Simplify the billing process with Workstatus’s built-in invoicing features.

Finance managers can generate accurate invoices based on tracked hours and project progress, enhancing transparency and client relationships.

Productivity Analytics:Workstatus provides in-depth productivity analytics, helping finance managers identify bottlenecks, optimize processes, and allocate resources more effectively.

Pricing and Free Trial

Starting at Premium Package: ₹299 / user/month with 7 days free trial

2. Toggl

Toggl steps into the spotlight as a robust time-tracking tool that offers finance managers a simple yet powerful solution.

With Toggl, monitoring time spent on various tasks and projects becomes a breeze.

Its user-friendly interface and seamless integrations ensure that finance managers can focus on the tasks without manually recording their efforts.

Features

1. Effortless Time Tracking: Toggl’s intuitive interface makes time tracking a breeze. Finance managers can easily start and stop timers to record their work hours accurately.
2. Client and Project Tracking: Toggl allows finance professionals to categorize tasks by clients and projects, facilitating organized time tracking and simplified billing.
3. Browser Extensions: Toggl offers browser extensions that enable finance managers to track time directly from their favorite web apps, eliminating the need to switch between tools.
4. Team Collaboration: Toggl’s features enable finance managers to collaborate with team members, assign tasks, and monitor project progress collectively, ensuring alignment and accountability.
5. Mobile App: Manage time with Toggl’s mobile app, enabling finance managers to track work hours from their smartphones, enhancing flexibility and convenience.

Pricing and Free Trial

Starting at Starter pack: $10 per/ user per month with 30 days free trial

3. Quicken

Quicken takes the lead in personal finance management. This tool allows finance managers to keep track of their finances, budgets, and expenses effortlessly.

By seamlessly organizing financial data, Quicken assists in creating a solid foundation for effective time management by allowing finance professionals to gain insights into their financial habits and make informed decisions.

Features

1. Expense Tracking: Quicken assists finance managers in effortlessly tracking personal and business expenses. Categorize and analyze spending patterns for better financial decision-making.
2. Budget Management: Create and manage budgets for various financial goals, from personal expenses to business investments. Quicken helps finance professionals stay on track.
3. Transaction Syncing: Quicken syncs with bank accounts and financial institutions, ensuring that transactions are automatically recorded and categorized, minimizing manual data entry.
4. Bill Reminders: Stay ahead of bills and payments with Quicken’s bill reminder feature. Finance managers receive notifications to avoid late fees and maintain financial discipline.
5. Investment Tracking: Monitor investment portfolios and track performance over time. Quicken provides insights into investment returns and helps finance managers make informed investment decisions.

Pricing and Free Trial

Starting at Quicken Starter/ $3.49 per month with 30 days free trial

4. TimeCamp

TimeCamp emerges as a time tracking and productivity tool well-suited for finance managers aiming to optimize their workflow.

This tool tracks time across various tasks, ensuring no precious minute goes unaccounted for.

Its reporting features provide valuable insights into time allocation, enabling finance managers to fine-tune their strategies.

Features

1. Task and Project Management: Finance managers can organize tasks and projects within TimeCamp, assign team members, and track progress, promoting efficient collaboration and project oversight.
2. Detailed Reports: TimeCamp generates detailed reports that showcase time allocation across tasks, projects, and clients. These reports provide insights into productivity trends and help optimize resource allocation.
3. Idle Time Tracking: Identify periods of inactivity or idle time using TimeCamp’s idle time tracking feature. This allows finance managers to pinpoint unproductive moments and make adjustments.
4. Integration with Calendar Apps: TimeCamp seamlessly integrates with popular calendar apps, ensuring that scheduled tasks and meetings are automatically tracked, enhancing accuracy.
5. Billable Hours Calculation: Finance managers can easily calculate billable hours using TimeCamp’s features. This facilitates accurate client billing and ensures that efforts are properly compensated.

Pricing and Free Trial

Starting at Starter pack/ $ 3.99/ per user per month with 14 days free trial

5. Harvest

Harvest is a versatile time-tracking and invoicing tool for finance managers who wear multiple hats.

With its seamless time tracking and reporting features, Harvest ensures that finance professionals can allocate time effectively across diverse tasks while simplifying the invoicing process for billable hours.

Features

1. Project Budgeting: Set project budgets and monitor expenses in real time with Harvest. Finance professionals can ensure that projects stay within budget constraints.
2. Invoicing: Generate professional invoices directly from Harvest based on tracked time and expenses. This streamlines the invoicing process and ensures timely client payments.
3. Detailed Reporting: Harvest provides detailed reports on time allocation, project progress, and financial performance. These insights empower finance managers to optimize resource utilization.
4. Mobile Accessibility: Access Harvest’s features from your mobile device, allowing finance managers to track time, expenses, and project updates on the go.
5. Integration With Financial Software: Harvest integrates with accounting and financial software, facilitating seamless data transfer and minimizing manual data entry

Pricing and Free Trial

Starting at Harvest Pro/ $12/user/ per month with 30 days free trial

6. Todoist

For finance managers seeking a comprehensive task management solution, Todoist shines brightly.

This tool enables finance professionals to create and organize to-do lists, set priorities, and manage tasks effortlessly.

By ensuring tasks are well-structured and easily accessible, Todoist helps finance managers stay on top of their responsibilities.

Features

1. Task Organization: Todoist enables finance managers to create, prioritize, and categorize tasks, ensuring a structured approach to managing responsibilities.
2. Due Dates and Reminders: Set due dates and receive reminders for tasks, helping finance professionals consistently stay on track and meet deadlines.
3. Collaboration: Collaborate with team members by assigning tasks and sharing task lists. This promotes teamwork and ensures alignment on project goals.
4. Cross-Platform Access: Access Todoist across various devices, including smartphones, tablets, and computers, allowing finance managers to manage tasks from anywhere.
5. Productivity Insights: Gain insights into task completion and productivity patterns through Todoist’s productivity analytics, enabling continuous improvement.

Pricing and Free Trial

Starting at Pro plan/ US $5/ per month/ per month with 30 days free trial

7. Trello

Trello takes center stage as an intuitive project management tool that allows finance managers to organize tasks and projects visually.

With its boards, lists, and cards, Trello empowers finance professionals to collaborate seamlessly with their teams, ensuring everyone is aligned and efficient in their roles.

Features 

1. Visual Project Management: Trello’s boards, lists, and cards provide a visual way to manage tasks and projects. Finance managers can track progress at a glance.
2. Task Assignment: Assign tasks to team members, ensuring responsibility, clarity, and promoting accountability.
3. Customizable Workflows: Customize Trello boards to mirror specific workflows, enabling finance managers to tailor the tool to their unique needs.
4. Collaborative Comments: Communicate with team members using comments on Trello cards, fostering transparent discussions and reducing communication gaps.
5. Integration Options: Trello integrates with various apps, enhancing connectivity with other tools used by finance managers.

Pricing and Free Trial

Starting at Standard/ $6/ Per user/ per month with 14 days free trial

8. Asana

Asana is s a dynamic project management tool ideal for finance managers striving for impeccable task organization.

With its robust features, including task assignments, due dates, and progress tracking, Asana enables finance professionals to streamline their workflows and maintain clarity in their daily tasks.

Features

1. Task Prioritization: Asana enables finance managers to prioritize tasks based on urgency and importance, ensuring that critical responsibilities are addressed promptly.
2. Task Dependencies: Create task dependencies to ensure that tasks are completed in the correct sequence, optimizing project workflows.
3. Progress Tracking: Monitor task progress with Asana’s visual indicators, helping finance managers stay informed about project status.
4. Integration with Calendars: Sync tasks with calendars to visualize due dates and commitments, enhancing time management and planning.
5. Team Collaboration: Asana facilitates seamless collaboration by allowing finance managers to assign tasks, communicate, and share updates with team members.

Pricing and Free Trial

Starting at Premium/ US $ 13.49 Per user/ per month with 30 days free trial

9. Evernote

Evernote steps up as a versatile note-taking and organization tool, serving as the digital notebook for finance managers.

This tool captures ideas, meeting notes, and essential insights in one centralized location, ensuring valuable information is readily accessible for decision-making and future reference.

Features

1. Note Organization: Evernote serves as a digital notebook, allowing finance managers to organize notes, ideas, and insights in a structured manner.
2. Cross-Platform Sync: Access notes from any device, ensuring that important information is available whenever and wherever needed.
3. Searchability: Evernote’s powerful search feature makes locating specific notes and information easy, saving time during information retrieval.
4. Web Clipping: Save web articles, research, and references directly to Evernote, ensuring that valuable information is centralized for future reference.
5. Collaboration: Collaborate with colleagues by sharing notes and notebooks, promoting knowledge sharing and teamwork.

Pricing and Free Trial

Starting at Personal/ $10.83 /per user/ per month with 14 days free trial

10. TMetric

Last but not least, TMetric enters the scene as a time-tracking tool emphasizing analytics.

Finance managers can efficiently track time across various projects and tasks while also benefiting from TMetric’s insightful reports that provide a deeper understanding of how time is allocated, helping to refine time management strategies.

Features

1. Task-Based Time Tracking: TMetric allows finance managers to track time spent on specific tasks, providing insights into allocating time.
2. Project Tracking: Monitor time spent on various projects to ensure efficient project management and accurate client billing.
3. Productivity Reports: TMetric’s productivity reports offer a clear overview of time allocation, helping finance managers identify areas for improvement.
4. Integrations: Integrate TMetric with various project management tools and calendars, enhancing workflow connectivity.
5. Mobile App: Access TMetric on mobile devices to track time on the go, ensuring accurate time recording even when away from the desk.

Pricing and Free Trial

Starting at Professional/ $5/per user/ per month with 30 days free trial

Incorporating these tools into their daily routine empowers finance managers to overcome time management challenges, streamline processes, and excel in their roles.

Each tool brings unique strengths, offering finance professionals a comprehensive toolkit for enhancing productivity and efficiency.

While all the tools offer valuable features, Workstatus stands out as the best choice for finance managers due to its comprehensive approach to time management.

Wrapping Up

Balancing the intricate responsibilities of finance management requires more than just skill, it is efficient time management.

The tools we’ve explored in this guide offer tailored solutions to tackle the daily challenges finance managers face.

From real-time tracking with Workstatus to seamless task management with Todoist, each tool empowers you to streamline tasks, monitor progress, and make informed decisions.

As you strive for greater efficiency and productivity, we encourage you to consider Workstatus your ultimate ally.

With its comprehensive features and user-friendly interface, Workstatus takes the lead in optimizing time management for finance professionals.

Say goodbye to missed deadlines and stress-filled days and embrace a new era of empowered finance management.

Opt for Workstatus, the choice that aligns perfectly with your goals. Start your journey towards enhanced productivity today.