The phase where people used things such as manual time clocks and attendance registers to monitor work is long gone. Instead, in this tech-savvy world, managers choose web based timeclock software as they offer many benefits while also being economically viable.
Every business, big and small, has a responsibility to ensure each employee is paid based on their working hours. Unfortunately, several organisations still choose manual payroll, though it is highly susceptible to human error. Utilising time clock software can save time and minimise risks.
Here is how web-based timeclock software can benefit your business:
Time Theft Is Not an Option
Time is money. No matter the size of your business, time theft is a serious issue. Time theft is not always intentional, but, to avoid it, your business can always employ time clock software.
A study conducted by the American Society of Employees states that US employers lose around 400 billion dollars annually due to less productivity of employees. Furthermore, companies witness a 20% loss on every dollar earned due to time theft. A high-quality tracking system can eliminate employee time theft and assure productivity.
Offers Convenience and Flexibility
Managing time and attendance today is just beyond marking it on paper. It becomes easier for employers to track employees once they have the time tracking software installed on their mobile phones, tablets, or laptops. Employers can also choose a time tracking software that fits their business requirements and seamlessly integrates with payroll.
Bigger Return on Investment
The primary concern of SMEs is the cost of the time tracking software. Since it does not come cheap, the hesitation is understandable. However, the software will pay for itself in the future as it helps boost employee productivity and reduce time-theft and time-wasting.
Furthermore, the software can save several hours by eliminating the need to manually record and track employee hours and generate payroll based on that. It also eliminates the chances of human error and intentional tampering.
Although they are not cheap, they offer various benefits that make the investment worth it in the long run.
Offers Instant Reports and Data Analysis
When you use an automated time tracking software, your business can gather data about every employee and how they spend their time at work. In addition, employers or users can generate data and additionally customise it as well.
Furthermore, you can even track the performance and progress of any project using the software. You can break down the tasks and time, including the breaks, to understand how much time a project requires.
This results in increased accountability and also provides you with solid proof of the exact number of man-hours spent on the project to show the client if they wish to see it.
Increases the Productivity
When you have a completely automated system that fits well for your venture, the HR team performs tasks in minutes that initially took hours. Your time off, breaks, leaves, etc., everything is well calculated automatically. Also, if your firm faces some issues with inefficient employees, the system can help you push them to take the stride towards efficient working.
When you put together the above reasons, you’ll find that the result comes down to the productivity and efficiency of every employee. The web-based solution will enable you to focus on work instead of bothering about incompetent employees.
Lastly, the productivity of your venture as a whole is only going to rise for good.
Efficient Payroll Process
Using an automated system can also guarantee an authentic payroll process as there is less room for human error. Using paper or timesheets can be a tedious task for the management team in your office. If yours is a big enterprise, it becomes almost impossible for HR executives to keep track of every single employee and their actions.
Employing a tracking system that supports all devices enables every single person inclusively to manage time and apply for leaves or breaks.
Most employees live in the uncertainty of hurting their payroll due to working overtime or taking vacations. However, the software will also take into account the reason for the leave while calculating and generating payroll reports. Therefore, this becomes the foremost reason to use time tracking software as it eases the process.
Now you know why web-based timeclock software can be a boon to your venture. It does not cost too much, helps improve employee productivity, reduces human errors, and integrates seamlessly with payroll, saving you a considerable amount of time. No matter the size of your company, using time clocking software will always offer you legitimacy.
