Time Tracking Software
Businesses of all types and sizes stand to benefit from the implementation of time tracking software. As any business owner could tell you, employees make up the number one expense of most companies. When employees’ times are not tracked, fraudulent activity and mistakes made in the number of hours worked can translate into hundreds or thousands of lost dollars each week. The most effective way to keep track of employees’ work time is to use time tracking software.
What is Time Tracking Software?
Time tracking was once accomplished with nothing more than a pen and a sheet of paper. As technology advanced, time clocks and punch cards were put into use. However, these manual methods of time tracking have several drawbacks. Whoever is processing payroll for the company must still reconcile missed punches, double punches, lost cards and illegible handwriting. In addition, little can be done to stop employees from using the wrong punch cards or having friends clock in or out for them when they are late or decide to leave early.
Time tracking software is an automated solution that allows you to keep track of your employees’ work time through the company’s computer system or, in the case of cloud-based time tracking software, through any computer with an Internet connection. In addition, time tracking software can integrate easily into our technological systems, such as biometric time clocks, proximity chip time clocks, payroll processing systems and reporting software.
Employee Management
One of the greatest benefits of time tracking software is that it provides tools that can be used for employee scheduling management. Accurate time and attendance tracking permits employees to clock in and out on their own while preventing or reducing mistakes, unauthorized use and the intentional falsification of time.
The accuracy of time tracking software means that business owners can analyse how efficiently employees are being used and how effectively they are being managed. This can reduce the amount of overtime being paid, and it can help in resource planning. In addition, time tracking software can help you identify problem employees and keep the company in compliance with state regulations.
Automatic Reporting Systems
Advance Systems Time tracking software integrates seamlessly into software systems and can be used to create custom reports. Weekly human resources (HR) reports can help you track unauthorised absences, sick days and annual leave. Weekly reports can also be used for budgeting and analysing scheduled hours versus actual hours.
