Managing human resources in any business is an integral part of productive operations. Keeping accurate track of hours worked directly affects payroll and management of financial resources. The accuracy of record keeping is of paramount importance to preventing wastage of valuable funds. This is where attendance tracking systems come in.
Particularly in a small business, proper resource management has a more immediate and profound impact on the success and longevity of the business. These systems solve so many of the pain points of running a small business. First look at some of the challenges that exist for a small business then how this system provides a solution.
Pain Points for Small Businesses
Small businesses have many hurdles to overcome as it relates to achieving sustained success. How well these hurdles are surmounted makes the difference between the business staying afloat or going under. Some of these challenges include:
- Cash flow management. Small businesses with limited financial resources and small profit margins face an uphill task. Balancing their income and expenditure is a necessary art form to develop to keep their business afloat.
- Time management. The lack of capacity to stay up to date with the daily operations presents an additional challenge. How well this is done will also affect the realisation of short and long term goals. Time management also has implications on profit margins as this also affects expenditure.
- Payroll errors. The problem of accurately keeping track of hours worked is a common problem in small businesses. These errors are costly and also create human resource issues.
- Finding scalable business application solutions to facilitate growth.
Attendance Tracking Systems as a Solution to Pain Points for Small Businesses
While a business may start out small, the inevitable goal is growth and sustainability. The setbacks or pain points that come with running a small business need not hold it at ransom. Attendance tracking systems provide a comprehensive array of solutions to smoothen these rough points over. Below are some of the main reasons Irish businesses are choosing Time Tracking Software to address their workforce painpoints. The itemised solutions and benefits are expounded below:
- Cash Flow management. Many of the day to day tasks handled by creating a paper trail can be eliminated or minimised with the implementation of this system. The cost associated with handling basic administrative tasks will be cut. Monitoring human resources via pen and paper means is a heavy resource consumer. Eliminating the demand for large quantities paper and associated office supplies will increase cash flow. Using a dedicated database to deal with these functions is cost effective and beneficial. It is also convenient to have all the information in a single locale.
- Time management. It is another costly component for small businesses in Ireland. Much of the time spent logging regular work hours and overtime hours on time sheets or cards prove very time intensive. In addition, accessing information at the time of payroll generation is time-consuming, which is a recurring monthly activity. Also keeping track of absences and awarding vacation allotments becomes challenging when sorting through a host of paper records. Attendance tracking systems can be the answer for many small businesses in Ireland. They provide an efficient and organised method of recording this necessary information. Reporting is a breeze because of readily accessible information and solves the costly time management issue. This allows streamlining of normal administrative tasks.
- Payroll errors are eliminated with attendance tracking software as it affords an accurate method of tracking and logging hours worked. The overtime financial burden will also be reduced as a result of more efficient managing of daily administrative tasks. These can now be done during regular operating hours as a result of time saved. More Irish businesses are expecting easy payroll integration when purchasing attendance tracking or clocking solution.
- Business solutions used to help manage the efficiency of operations must be scalable. They must have the ability to expand with the business. Attendance tracking systems provide just that. The highly customizable nature of it allows for features to become added as the need arises. This facilitates the optimal functioning of operations at any stage of growth.
Features of Attendance Tracking Systems for Small Businesses in Ireland
The system capabilities are diverse and allow countless management options for whatever business type or model required. The impressive offerings include:
- Various time clocking options – computer based, desktop readers, mobile phone, landline, proximity terminals and biometric terminals
- Absence tracking capability
- Attendance/absence trend monitoring
- Ability to define attendance/absenteeism policy
- Convenient report generation and access to real-time analytics
- Customizable and scalable software
Choose to improve the efficiency of your daily and overall operations by implementing software that works for you. Having access to valuable data to aid in decision-making and strategizing efforts is priceless. The aim of any business is to use best practices, provide customer satisfaction and to be profitable. Using a system which helps seamlessly facilitate these goals is an all-around winner.