A recent survey revealed that more than 80% of retail and service industry employees admitted to “time theft.” In fact, small businesses often neglect this part of their business – the employee attendance tracking system. In fact, old-fashioned time and attendance that are based on paper cards or sheets lead to hundreds of hours of time as well as thousands of dollars lost each year. That is why you need to switch to an automated time tracking system to improve the productivity of your organization. Here are some advantages of installing time and attendance software systems in your organization.
The most important benefit of a reliable time tracking system is that less time will be spent on the process of tracking and recording the working hours of the employees in your company. In fact, the HR will spend very little time on time tracking f employees compared to manual time tracking systems. This will manifest as improved productivity and more revenue for your company in the long run. Time theft includes so many things such as taking a longer lunch than the allocated time or clocking in for a friend when he or she is late for work. In fact, the American Payroll Association estimates that more than 75% of businesses in the country lose money due to “buddy punching.” Time theft can become very costly for your company if remedial action is not taken immediately. That is where a quality time tracking software comes in handy.
Human errors are common in all departments including accounts. A time tracking software will help reduce human error in bookkeeping. The latest statistics show that even the most accurate typist would make one mistake per every 300 keystrokes. Even one misplaced digit or decimal can result in accounting errors that should be immediately corrected. It can negatively affect the bottom line of your company when the mistake is left uncorrected. You can avoid all these mistakes with the right time tracking software on the market.
A reliable time tracking software will help your company spend less time and resources on paperwork. Paperwork is costly and time-consuming. A time tracking system can grow with your business in the future. It doesn’t matter how many staff members you plan to employ in the future, a quality time tracking system can take care of all these employees. You won’t have to hire new staff to monitor the attendance of such employees. That is why you need to invest in a quality time tracking system for your business right now.
There are dozens of time tracking software systems on the market. Hence, how will you choose the best software for your company? That is where you have to do the research. Your extensive research is very important when buying the best time tracking system for your company. It can save your time in the process.
If you are searching for the best time tracking software for your company, look no further than TimeTrex (https://www.timetrex.com).