The importance of tracking time and attendance is easy to understand. Such a system can be used to enforce rules, eradicate harmful habits and boost overall productivity. A number of different tracking options can be employed. Automated time and attendance software brings benefits to the table that other tracking system simply can’t produce.
Accuracy
This is the most important feature when it comes to tracking time and attendance. Automated time and attendance solutions come with a level of accuracy that’s unparalleled. Manual processes lead to errors, but automation eliminates such risks.
Data inaccuracies and system abuse can contribute to serious losses for businesses. According to a 2015 report published in Forbes, employee time theft is the single biggest contributor to financial losses in the retail business. The American Payroll Association reports that employees waste about 4.5 hours per week, which can add up to business losses of at least 2,340 dollars per employee per year.
Manual time tracking is both inaccurate and ineffective. It takes an operator approximately seven minutes to process a card manually. Automation reduces the time to one minute per card. In a business that has 500 employees, this will add up to approximately 3,000 minutes (50 hours!) of saved time.
Increased Productivity
Automated time and attendance software increases productivity. There’s no question about it – when people know that attendance is being tracked accurately, they’re much less likely to procrastinate, arrive late or leave early.
The automation also boosts productivity in the HR department. When a manual process is being employed, a lot of time will be dedicated to data processing. The use of the right software program eliminates the need for manual processing and enables the HR team to focus on more important tasks at hand.
Better Shift Management
Better shift management is very important in large companies and production facilities where processes have to take place without disruptions. An automation system makes it a lot easier to schedule shifts and stay on top of a complex employment structure. When there are no interruptions in the production cycle, operational costs go down and the company also gets to generate more profit.
Once again, manual shift management will be time-consuming, inaccurate and difficult to follow through with. It makes sense for such businesses to invest in a contemporary solution. The program will quickly pay itself off in the form of increased productivity and reduced production costs.
Legal Compliance
There are labour laws that regulate overtime logging, payments and record keeping. When manual data entry takes place, it’s possible for errors to stay in the way of legal compliance. As a result, companies may be subjected to extensive audits and even fines.
Automated time and attendance software is the best option in terms of ensuring legal compliance. Accurate time tracking and attendance sheet creation will take place. All of the data will be stored in a digital archive that will be easy to access for reference purposes in the future.
Scalability
A time and attendance tracking program will change as the needs of the company become more complex over the years. Most of these solutions have functionalities for small businesses and additional features that make them ideal for bigger companies and even multi-national corporations.
An automated program can grow with your business. You’ll be paying solely for the features that you utilize at the time being, which gives you both accuracy and cost-effectiveness. There’s no need to change the tracking method every few years – modern software will accommodate for all of your needs.
