April 1, 2020  
 
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Time & Attendance

 

Time & Attendance System Benefits

If you're still relying on old-fashioned log sheets or mechanical time clocks to record your employees' time and attendance, you're missing out on some important benefits that are available with modern time & attendance system technology.

If you're like many business leaders, you're tired of the same old inefficient time and attendance procedures your company has relied on since the Dark Ages.

Automation is the key to a more efficient workplace, and now you're wondering whether it might be time to automate your employee tracking system.

The good news is that there is no shortage of time & attendance software systems available in the current marketplace. If you are looking for a solution that can transform your current system into an automated, latchkey tracking solution, you can easily find it – and it will likely come with many other benefits you didn't expect to receive from an affordable time and attendance software application.

  • Reduced processing time. One of the first things you'll notice after you implement your new system is how much time your company wasted processing employee time sheets and keeping track of scheduling. Attendance tracking software automates the process and effortlessly generates the reports you need to manage your workers.
  • More accurate reporting. Your employee tracking process will also benefit from more accurate reporting. Rather than relying on employees to keep track of their own hours, the system creates precise records based on the hours or fractions of hours that were actually worked.
  • Cost savings. Studies indicate that companies who implement an employee time tracking solution receive an immediate cost savings of up to 4% of their annual payroll expense. When you add to that the number of hours you'll save in processing, it's not hard to see how these solutions can save money for your business.
  • Integration. Today's time and attendance software solutions offer a fully integrated HR experience. Most packages come with standard data exporting capabilities that can be migrated into payroll service software, accounting software and other internal applications.
  • Scalability. Another really nice feature of most time & attendance systems is that they can grow with your business. Add-on modules and additional identifiers can be brought into the system on a go-forward basis.
  • Time fraud deterrence. It's sad to say, but "buddy punching" (having a friend punch in a timecard) is commonplace in some companies. If time theft is a significant problem in your workplace, time and attendance tracking systems can minimize fraud with RFID (Radio Frequency Identification) or biometric identifiers.

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Time & Attendance System Basics
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