A recent survey revealed that an incredible 80% of employees had admitted to “time theft.” Even then most small business owners are neglecting the crucial aspect of employee time and attendance tracking. In fact, paper-based time cards and buddy punching lead to thousands of dollars and hundreds of hours lost to a small business each year. That is why you need to invest in the latest time and attendance tracking software for your small business. There are numerous advantages of investing in such software for your small business. This article provides information on some of the most important benefits of time tracking software.
The most notable benefit of this software is the less time spent on payroll functions each month. In fact, both employees and HR staff will spend less time tracking records and processing the working times of the employees of the company. Some businesses have been able to cut down their time calculating payroll each month by at least 70% after upgrading to the latest time tracking software on the market. On the other hand, the employees are able to focus on the tasks at hand rather than accounting for themselves every month. That is why you need to upgrade to the latest time tracking software for your small business.
The American Payroll Association estimates that more than 75% of businesses lose money due to buddy punching each month – which can include spending more time at lunch and clocking in for a friend when he or she is late to work. In fact, time theft is quite costly to the small business. That is why you need to invest in a reliable time tracking software. A high-quality time tracking software can put an end to such activities and save valuable time and money to the business.
On the other hand, human errors can be easily prevented with a quality time tracking software system for your business. Nobody is perfect – even with the latest calculators and spreadsheet devices mistakes can happen. In fact, one misplaced digit can cause a big problem for your business. Human errors in bookkeeping are quite common in many small business organizations. A reliable time tracking system can help avoid such errors and improve the efficiency of your bookkeeping functions. That is why you need to invest in a high-quality attendance tracking system for your small business.
An attendance tracking system helps you spend less time and resources on paperwork. Processing and organizing paperwork could be quite time-consuming. The cost also runs into thousands of dollars per month. But investing in an attendance tracking system is a one-time cost that can help save time and money in the long run. Make sure you invest in a quality attendance tracking system for your small business in order to get the best ROI for your investment.
TimeTrex (https://www.timetrex.com) is one of the best attendance tracking system solution providers on the market today. Call them now for all your time tracking software requirements.