Time and Attendance Software – Ensure Efficient Management Regarding Payroll and Timing
Posted on December 17, 2012
Is a time and attendance software is required for your business or not? If you are in this dilemma then this article will assist you in taking a firm decision whether to install software or run your business without it. Many business owners get confused because they think that what’s the use of installing software when already the business is going good without it. But what if after installing it your business starts working great!!!
Here are some strong reasons why one should consider investing in time and attendance software. Time and attendance software basically saves time, energy and money, ensures accurate results by eliminating the risk of human error and eventually ensures efficient management. So according to experts, if any business consists of more than 20 employees, then it should definitely possess a time and attendance software. As a business, with less than 20 employees may also run efficiently with the help of human or paper records.
Here are some reasons that will influence your decision of installing such a software. Due to lack of accuracy in keeping records, your employees may sue you for giving them less wages then they deserve, despite your genuine calculations. But you may not be able to prove your innocence due to lack of proper evidence. To avoid this risk it is advisable to have software that tracks proper entry and exit time of every single employee along with their daily attendance. This software also keeps the record of petty details like meal breaks, refreshment breaks and other unpaid breaks, sick leaves etc that may be useful while accounting the overall payroll of an employee. The best part about this software is that it saves product costing which is very beneficial if it is a manufacturing company. This is because in case of a manufacturing company, the time of the employee is directly proportionate to the cost of the product.
Many employees try to act smart by practicing time theft. In case of paper records, one employee may fill in the proxy for other employee or there are times where the employee will accept the wage or salary for the time, which he did not work for. In such cases, a hand scanner or other small tracking software will help you catch such unethical employees.
Plays crucial role in case of small scale business: The business owner or the manager may have to play various roles at a time as the size of the company is small. If time and attendance software is installed, the manager or the business owner will be relieved from more than half of the burden and a stress free mind will be able to focus better on those aspects which are not covered by time and attendance software.
The apt time and attendance software can prove very beneficial for cost cutting and relieve the manager or the business owner from specific problems like time theft, buddy punching, late arrivals, long breaks etc.