Human error and employee attendance fraud can be a major challenge to any growing business. Even if your company only has employees under 50 employees, human error related to input and calculating payroll can be costly. In fact, human error has been found to be the number one cause of accounting mistakes. This is incredibly common when inputting data manually such as inaccurate attendance information.
If you are still rely on manual time sheets and antiquated systems, you may want to consider upgrading to digital time and attendance solutions which offer more cost-effective solutions.
As your business grows, ensuring that you have an efficient attendance system becomes increasingly important. Find out 5 reasons below why your company really need time attendance software.
#1 Help you eliminates time fraud
The main issue with time-sheets and punch card is the opportunity for time fraud. There is a practice known as “buddy punching”, where one employee punched in for another employee.
With attendance system you can ensure that your staff was present because it requires your staff be there to authenticating the record with their unique biometrics.
#2 Save money
Requiring your HR department to manually enter payroll information and hours worked for thousands of employees is not only inefficient, but it will cost your company major losses. Furthermore, manual-time tracking systems are outdated and not intended for a growing business.
With time and attendance software, you can saves money by cutting down on payroll error, along with the rest of the benefits. In addition, you can improve efficiency and productivity so it will results in substantial savings.
#3 Able with real-time tracking
One of the most mind-numbing tasks for any HR department is tracking the employee time. Today that undertaking is made simpler with the time attendance software. The solution aids the company to keep an eye on time spent by employees. You can see which employees are currently working. Every check-in/out activity is logged and directly sent to central database. This makes all information available in real-time
#4 Provide accurate payroll process
With an accurate time tracking, it prevents payroll errors and provide the accurate payroll process. Time and attendance software helps you to accurately records employees’ arrival and exit times which means the employee can be paid accordingly.
#5 Regulatory compliance
Manual time and attendance logging will usually result in inaccurate time tracking so the company is not aware if any employee is working overtime and interferes with legal compliance that lead to fines or other sanctions.
An automatic time attendance system helps you to stay compliance with regulations especially in overtime. You will get the alert when the regulation is violated. All of this information can help you enforce attendance policies and maintain legal compliance at the same time.
These are the reasons that any business should be interested in. If you have noticed increases in absenteeism or payroll errors, then it could the perfect time to consider upgrading to the time attendance system. Contact us today and we will happy to explain for your time management solutions.