One of the challenges that every business faces is the need to evaluate their timekeeping system. Do you keep track of time on a notepad or spreadsheet? Do your employees email you their hours at the end of each week?
No matter what your strategy, if you have a company that has employees, you should consider an automated timekeeping software system. Timekeeping software not only gives you a more precise record for payroll, it also provides statistics which are crucial to your organization's success. Because we care about the ultimate growth of your business and believe that proper time management is crucial for constant improvement, we have put together a list of the most prevalent reasons to invest in an automated timekeeping software system.
1. Increased Accuracy
Reporting your time logs immediately, instead of after a long day of work, decreases your likelihood of inaccurate time reporting. It also makes it easier to determine the exact number of hours an employee has worked when running payroll. By allowing your employees to clock in and out with an electronic timekeeping system, you reduce the likelihood of administrative and timekeeping errors and workforce attendance issues.
2. Increase Your Bottom-Line
Since your workforce is most likely your company's largest expense, it is crucial that you be as accurate as possible when reporting all costs. Time tracking software from companies like SwipeClock™ take care of employee time reporting and give you the exact date, time, and location of every time punch.
3. Accomplish More with Less Effort
Electronic timekeeping systems allow you to improve productivity with a simple approval process of the electronic time card data. No more manual timesheets and supervisor frustrations. When combined with accounting software such as ActivityHD™, the information from your timekeeping software can then be directly imported into a timesheet ready for creating a payroll check.
4. Reduce Time Disputes
When using a biometric time clock and a software solution, you no longer have to worry about employee buddy-punching or incorrect reporting on time logs. Timekeeping systems eliminate the majority of time disputes and many allow for different levels of approval.
5. Take the Burden Off One Department
We have all seen the payroll department or manager shut their door for a couple of days because they are buried in the books trying to get checks out. They keep up with hundreds and sometimes thousands of documents and employees have to wait days for records when requested. With a timekeeping software, payroll is more productive from the employees all the way up to the payroll department. Many include an employee self-service portal such as ActivWS where employees can access their HR and Payroll records.
6. Improve Your Company Culture
When employees can see all of their time in one system, they begin to have more trust for their supervisors and feel like they have more control over their own careers. When you are an employee looking for a promotion, it makes it easier to justify how long it took you to complete a particular task and allows you to stack up better against your fellow coworkers.
7. Integration into Outside Systems
Timekeeping systems typically export to your payroll and accounting software with ease. Using a timekeeping system like TimeWorksPlus™ with an ERP solution like ActivityHD™ who already have an existing relationship and working integration allow you for quick implementation and virtually zero down-time.
8. Improve Your Decision Making Ability
When you have access to more data, you can make better decisions for your organization. Timekeeping systems allow you to see when a department is consistently running behind schedule or going over the payroll budget allowed. You can then allocate resources where needed.
9. Improved Employment Law Compliance
No one wants an unexpected visit from the IRS or State office for payroll compliance, but you can be better prepared for one when equipped with a proper timekeeping software storing all of your data in one secured location. Your employees will no longer be able to see the leftover sheets of paper laying around the office with their coworker's hours written on them and you'll know that you won't get hit with a hefty fine for breaking security compliance or employee disputes.
10. More Project Data
More accurate time logs allow you as a project manager to know exactly where your employees spend their time and on which projects. When you know where time is being spent, you can give your customers projected project delivery rates and more accurate data for billing and invoicing.