How Employee Time and Attendance Keeping Software Cuts Workforce Costs

Monitoring, collecting and compiling hourly employee time and attendance data can be a cumbersome, labor intensive part of workforce management for facilities which don't use time keeping software. Mechanical time clocks often record employee attendance inaccurately due to "buddy punching" or system errors, and this information must be compiled by the payroll department.

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Employee time keeping software is a type of workforce management software which not only acts as a virtual time clock, but also automates the collecting and compiling of employee time and attendance data into one easy-to-manage source. Inaccuracies, time theft and labor intensive duties can be eliminated by integrating web based time keeping software into nearly any kind of workplace facility.

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Eliminate Time Theft and Buddy Punching

Mechanical time clocks allows employees to clock in for one another, also known as "buddy punching", to cover for late arrival or absence. This is company time theft, and it can add up to a significant loss, especially for large workforces. Keep in mind that five minutes is 1% of an employee's daily pay, and five minutes can add up quickly. Time and attendance software can be easily integrated into IP time clocks, ID badge readers or biometric scanners which make it nearly impossible for employees to clock in or out inaccurately.

Automated Attendance History Keeping

Mechanical time clocks and time sheets require payroll personnel to manually enter employee attendance data in order to track attendance, while management software automates this process. Employee attendance history is automatically made available to supervisors and, in some cases, employees. This information is also used to notify human resources when new benefits have been accrued or vacation leave is expended.

Easier Payroll Management

Payroll departments do not need to compile time sheets to perform payroll when time and attendance keeping software is integrated into the workplace. Attendance keeping labor management systems provide precise work schedules and compiled times, which are available from the management softwares interface, significantly cutting back on the time payroll spends on manual data entry. Both payroll and human resources have ready, real-time access to accurate employee time and attendance data, allowing these departments to spend less time on manual data entry while maintaining more accurate payroll and attendance history records. Companies can use these savings, as well as the money saved from inaccurate records, to invest in helping the company grow.

How Employee Time and Attendance Keeping Software Cuts Workforce Costs

Maggie Segundas is a sales representative at Tracy, Inc., a leading US supplier of time and attendance keeping software systems. Learn more about time and attendance systems and other workforce management systems at www.tracyinc.com.

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