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Benefits of implementing time and attendance software (Part 1)

Posted on Thursday, June 30, 2016

Time & Attendance Software | Time Clock App Benefits #1 | Time Rack

Keeping track of employees’ time on the job can be a complicated and difficult task. Human resources and payroll teams have to document paid time off, sick days, Fair Medical Leave Act absences and more.

In addition, leaders must also record these instances for part-time, full-time and independent contracting employees. Companies are required to follow different regulations for each group of people, so it’s crucial for executives to be on top of their attendance policies.

It’s common for HR and payroll teams to become overwhelmed with manual entry for time and attendance documentation. In these cases, organizations often look for other ways to complete the tasks that are more efficient. Software built for this purpose helps businesses keep accurate records and ensure employees aren’t taking advantage of certain privileges. Let’s look at some other examples of benefits of implementing time and attendance solutions:

Cost efficiency is important when choosing a time and attendance software.Cost efficiency is important when choosing a time and attendance software.

Cost savings
Companies are always looking to improve their bottom line. It's important for businesses to think about their budget on a regular basis, as losing track of their funds could be potentially dangerous for their future. One element of that monetary account organizations have to pay special attention to is employees. Worker compensation obviously is deducted from that budget, so it’s critical for employers to make sure they receive the right amount of labor for the rate of pay.

Time theft is a growing concern in the workplace, especially since many people may not be aware they’re taking part in the practice. Non-work activities or stretching or cutting employee hours are just two examples that account for crucial time wasted, according to the Houston Chronicle. Implementing time and attendance software can help combat this issue by requiring employees to enter the time they clock in and out for the day, as well as any breaks they take.

"Cloud-based systems are scalable and customizable."

Assistance of the cloud
Today, many types of digital solutions are cloud-based, meaning businesses don’t have to manage and maintain the systems in-house. Instead, all information and hardware is stored elsewhere. Although the software and equipment aren’t located in the office, all data is readily available via the cloud and can be pulled up with a simple request.

To make the solution even more cost efficient, cloud-based software is scalable. This means organizations only pay for the amount of storage they need at the time. The level can be decreased or increased as businesses see fit or as the company continues to expand. The time and attendance system can also be customized to fit organizational desires and built to increase efficiency and effectiveness overall. All businesses need to get started is an internet connection and login credentials from the network provider.

Implementing time and attendance software offers companies a number of benefits, including cost savings and cloud access. These advantages enable the customizable, scalable solution to work its magic, alleviating the pressure of having to manually enter employee information regularly. To continue learning about additional benefits of implementing time and attendance software, check out: Benefits of implementing time and attendance software (Part 2).

Time Rack provides employers with a time and attendance system that will fit all of their needs. Not only is the solution quick and easy to set up, but it is cloud-based, offering companies security and efficient management.

Contact us to learn more about time and attendance solution best practices