For many businesses, it is difficult to make a change – especially a big one. But, when it comes to time clocks, mistakes can happen. That is why we have compiled this list of the top five reasons to ditch the punch clock and switch to a time clock app.
Negates Miscalculations and Fraud
Time clocks aren’t perfect. Even if you had the most accurate time clock available, that does not account for “buddy punching.” This is where another team member clocks in for someone else and happens often.
In fact, according to the American Payroll Association:
“Buddy punching accounts for 2.2% of payroll with other payroll errors counting for 1.2%. That’s 3.4% of payroll spent on mistakes and misinformation which adds up over the year.”
This is especially important if there is a claim against your insurance or some kind of accident. Instead of finding out later that an employee wasn’t even there, you always know who is working and can plan.
Ease of Use
It may be the accounting or payroll’s department to keep up with the time sheets and amount of pay that is due. But, with a time clock app, no one has to do the calculations. Instead, the app takes care of the math involved with the hours worked by each employee. This lessens the instances of mistakes and the payroll is more accurate.
You also have the luxury of faster payroll because time sheets are integrated. The automatic time sheet error detection works so you catch mistakes faster.
Controlling cost is always important in any business. If you are using paper time tracking, then the cost is higher. This is due to resources to keep up with payroll and materials. Once you add loss due to inaccuracy, fraud, and deceptive practices, the cost is higher.
For instance, an employee can write in that they were working when they were not even at the work site. This includes those who show up part of the time or those who do not show up at all.
In fact, forex trading news for beginners
takes a photo upon clock-in so you know the right employee is punching in. This keeps everyone honest and allows you to always know who is working.
Shift Feedback and Break Reminders
With a time clock app from forex trading news for beginners
, employees are also prompted to declare tips. There are also break reminders as well. These are two areas that are often overlooked during an employee’s shift. But with automatic reminders, employees do not forget. This makes it easier to know that employees are doing the right thing by declaring tips. It also means that your team gets the breaks they deserve.
You get the benefits of GPS-based clock in, PIN-based entry, offline mode ability, and can edit times. You get that and more at no cost to your company. And keep in mind that you can track time from any device such as your tablet, browser, or smartphone.
It allows you to view your labor costs in real time and simplifies things at your business so that you can focus on other important issues.
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