Managing payroll is one of the most important – and most time-consuming – aspects of running a business. That’s especially true if you’re a small business owner, someone who has to wear several hats in the course of any given day.
The time you dedicate to tracking employee hours manually, compiling payroll data, and managing things like taxes is time that you can’t spend on strategic things like building your business. That’s where electronic time clock software comes in. Using a fully-integrated system can save you more time than you might imagine.
What is Electronic Time Clock Software?
Whether they are working on-site or at a remote location. Once they do, the information about the hours they work, and their location, is transmitted to the software. From there, you can use it to monitor employee hours, create reports, and manage your payroll.
Electronic time clock software comes with various deployment solutions to suit your needs, including:
- Biometrics to ensure that employees don’t “buddy punch” for one another and to keep private areas secure
- Mobile clock in options, including telephone and text options and GPS to track employee locations
- Workstation login with or without biometrics to track employees in your office
- Land-line clock in for workers in remote locations
The solutions we offer give you a variety of ways to track employee hours in real time.
What Are the Benefits of Using Electronic Time Clock Software?
Before you make the decision to purchase electronic time clock software, it’s important to know what it can do for you.
Reduces Payroll by Eliminating Employee Fraud
Few companies have a huge problem with employee fraud, but it’s not uncommon for co-workers to request that somebody else punch them in if they’re running late. That’s not fair to you because it ends up costing you money. You’re paying for hours when nobody worked.
Another problem that is slightly more common is when employees clock in a few minutes early or clock out a few minutes late. A few minutes here and there might not seem like much, but over time it can end up costing you and eating into your profits.
Electronic time clock software relies on biometrics or equipment logins such as key fobs or ID badges. It’s not possible for employees to buddy punch, and you can easily keep track of extra minutes being logged by employees.
Increases Payroll Accuracy
Using this software can also help you improve the accuracy of your payroll, both in terms of calculating employee hours and paying taxes. When you have to transfer hours from one system to another, the possibility of data entry errors is always there.
When you use software to track employee hours, it’s easy to integrate it with payroll so that everything is transferred seamlessly.
Allows for Greater Efficiency and Time Management
When you have a small company and you’re trying to manage several projects at once, it can be difficult to keep track of which employees are working on which projects. One of the huge benefits of using our software is that it can help you allocate employee time more efficiently.
Instead of asking employees to prioritise and keep track of time spent on each project, you can you electronic time clock software to allocate employee hours to specific projects and even set priorities to ensure that things are done on time. It eliminates guesswork and in the long run, it can increase customer retention and profits.
Tracks Attendance and Absenteeism
It’s not unusual for employers of any size to have issues tracking employee attendance. If you have to keep track of vacation time, sick time, tardiness, and family leave it can be easy to let something slip through the tracks.
Electronic time clock software allows managers and HR professionals to track days off without a hassle. You can order ad-hoc reports to get an overview of employee attendance. The reports make it simple to spot patterns of absenteeism and tardiness so you can address them with employees as soon as they become apparent.
The ability to track attendance is the key to minimising employee turnover and other issues that can cost you money.
Encourages Growth
Finally, when you streamline things like attendance, payroll, and time management, you free valuable time that you can use to do things like:
- Attract new customers
- Develop new products
- Market your company
- Increase your profits
Using electronic time clock software can make a huge difference in your ability to turn your small business into a big one.
Conclusion
Using electronic time management software is a good way to eliminate waste, reduce costs, and increase your efficiency. If you’d like to learn more about how we can help, please click here.
