Time in the Sky Keeps Profits High
Fewer things are more frustrating to a business owner than working with outdated systems or antiquated, manual processes. One of those processes, time keeping, can not only take its toll on whoever runs your payroll, but also on your bottom line.
Employee time tracking seems like a pretty straightforward task but there are actually many moving parts. Not having the right solution in place can cost you down the road. What if there was a more nimble and efficient way to handle this complex set of tasks? That’s where cloud technology comes in.
The cloud. It’s a term heard everywhere these days and the subject of countless white papers. The benefits it affords have been largely embraced in the business world and doing business via the cloud has become standard practice for many. So, why aren’t more businesses taking advantage of the cloud in terms of internal processes like employee time tracking?
Simply put—many business owners rarely take time out of their busy day to contemplate internal improvements. Rather, they spend most of their time (and revenue) coming up with marketing plans and sales strategies. Rarely is internal process improvement a line item on the budget sheet. But, in the words of motivational speaker Tony Robbins, “If you do what you’ve always done, you’ll get what you’ve always gotten.”
So, what exactly are the benefits of cloud-based time tracking software and how can it help your company in the long run? Read on to find out.
It keeps employees honest
It’s a fact that punching a time clock using last century’s technology makes it easier for employees to commit time theft. According to an anonymous survey by Kessler International, a whopping 80 percent of employees admitted to time theft, including buddy punching where an employee punches in for a co-worker who is late.
It’s convenient and flexible
Time and attendance systems today go well beyond just being paperless, they’re also flexible. The reality is the world is being shaped around our mobile phones. So, why not take advantage of technology by allowing workers to clock in or make adjustments using the device they always have with them?
It’s easy to maintain
Aside from being convenient, cloud-based time tracking software is also easier to maintain. Since it’s delivered over the cloud, your IT department will not be saddled with deploying updates, installing upgrades or troubleshooting issues.
It empowers and informs workers
Nothing bogs down an HR department more than emails, voicemails or office visits inquiring about remaining vacation and sick time for the year. A cloud-based system gives an employee 24/7 access to their weekly timesheet so they can stay on top of their own time and attendance. It also lets them see which activities they’re spending the most time on at work.
It’s more accurate
The famous lawman Wyatt Earp once said, “Fast is fine but accuracy is everything” and the same is true for employee time tracking. In fact, federal and state labor laws, like the Fair Labor Standards Act, regulate things like overtime pay making accurate timesheet reporting paramount. Consider how extremely cumbersome an audit of employee time tracking would be using a manual, paper-based system or worse, having to rely on employees to recall every clock in clock out using an outdated time card machine. Not being in compliance could end up costing you dearly in the long run.
It’s better for the environment and more cost effective
Employing a manual attendance tracker is not only cumbersome, but it is also expensive to maintain. Just think of how many reams of paper are wasted in a given year, how many additional supplies are purchased and how much energy is expended repairing a time clock from yesteryear. With time tracking software, those are problems of the past. Employees have access to their time card literally at their fingertips via a timesheet app on their mobile device or if they prefer, they can log in on a desktop computer to adjust or fill out their timesheet. The newest technology even allows employees to track time and attendance via a biometric time clock that records and recognizes fingerprints. In addition, managers can use time clock software to review an employee’s online timesheet and extract the information into reports for payroll purposes—24/7. It’s better for the environment and your profitability.
It ensures your data is secure
Whether brought on by a power outage or natural disaster, computer and server crashes are inevitable. Losing data is troubling, especially timesheet data. A cloud-based option safeguards against crashes and loss of data because servers are backed up nightly and are “hardened” to combat hacking. You will sleep more soundly knowing employee timecards are safe.
It provides valuable data to management
Time and attendance software gives managers access to employee timecards which can be a valuable metric for assessing the performance of an individual, department or company. In-depth reports can be generated to show what employees are working on, how much they’re spending on tasks and much more.
Implementing time tracking software may seem daunting but the implications of not doing so could come back to haunt you later. Outdated and manual time trackers are cost prohibitive, time-consuming, and make you vulnerable to human error, hackers, server crashes, legal trouble and more. A cloud-based option is eco-friendly, flexible, and grows with you as you hire more personnel.
Convinced yet? Give us a try...