With constant increase in labor costs, a good solution that helps in proper utilization of the human resources becomes very important for every business to grow and succeed. One such solution is time and attendance software that manages time, increases labor productivity and enhances return on labor investments.
Though traditional methods of tracking the attendance and late comings manually using attendance books, spreadsheets and paper are helpful to some extent, they consume lot of time, effort and are error prone. With the advancement in technology, many latest time tracking software solutions are effectively replacing these risky methods of tracking time and attendance.
The following article helps you better understand the need for time and attendance software by analyzing its benefits.
Time and attendance software: Time and attendance software is a browser based solution which works in combination with the existing payroll applications and allows the organizations to electronically collect and track accurate workforce data, streamlining the payroll process. This software makes the employee time-keeping process fast and efficient. They automatically generate accurate and professional time sheets and create attendance reports for all the employees in less time.
Following points help you in understanding the usefulness of this software at workplaces in detail.
Helps in tracking the employee attendance: Time and attendance software helps in updating the employee attendance in real time and also provides a variety of methods for managing both part time as well as full time employee attendance. It also helps in schedule management which includes breaks, lunches, paid and unpaid time off and overtime. This software effectively recognizes late punches and also shows all patterns of absenteeism. It provides complete individual time sheets for all the employees and can also generate detailed auditing.
Prevents proxy attendance: Maintaining time and attendance can lead to manipulations like false time keeping and buddy punching. This kind of false clocking generates inaccurate payrolls and performance appraisals. Automated time and attendance software with integrated fingerprint identification prevents wrong entry of data and hence gives the organization the correct information of an employee.
Reduces error rate and increases operational efficiency: The time and attendance software is a reliable means of tracking employee movement and presence as it prevents any kind of manipulations. This makes the employees to work for stipulated number of hours leading to the improved work productivity and thus, overall organizational efficiency. Accurate and error free payrolls not only save operational costs but also increase operational efficiency.
Makes payrolls easier: An automated time and attendance system is instrumental in saving the time needed to enter the data into the payroll system. Since the data is automatically updated and calculated, it becomes easier for administrative staff to prepare the payroll statements. It only takes few clicks to get reports and payroll data, instead of spending long hours referring the attendance books.
Reduces labor costs: Time and attendance software effectively reduces costs to the organization such as labor costs, stationery costs, and other administrative costs. Automatic updating of data reduces the number of the people working on the payroll process and hence reduces labor costs. They also help the companies to maximize returns on labor investment by properly utilizing their services.
In addition to all the above mentioned benefits, few packages let the employees to enter their leaves, vacations, and so on directly in to the attendance systems. This further reduces the work pressure on the payroll department and helps them to manage the payrolls effectively.