Reasons Why Tracking Time & Attendance in the Cloud is Beneficial for Your Business

Time and attendance tracking is imperative for any business. Accurate data is critical to ensuring that payroll is processed quickly and it guarantees that policies and regulations are enforced. If your company still tracks time and attendance manually, then you are most likely already aware of the inefficiency and inaccuracy of it. In order to benefit from tracking employees’ hours, companies should find the tools that best work for them. Time tracking technology has matured over time, from punch clocks, to time cards, to computer software, and now to cloud-based software. Nowadays, most companies are using online, cloud-based software such as Dominion’s Time & Attendance Software. Instead of having employees use punch cards or a computer software to clock in and out, employees can do it over the internet. One of the best advantages of cloud-based time tracking software is that they don’t require much human interaction, as they work in the background. Not only that, but cloud-based time and attendance softwares have other benefits. Read on to find out more.

Accuracy

As mentioned before, accurate data is critical when tracking employees’ time and attendance. If you are still doing it manually, then you are creating room for errors. Those employees who are responsible for collecting and entering data are suddenly under a lot of pressure, causing them stress and anxiety, which we all know reduces productivity. Humans are not perfect; we make mistakes. When mistakes are made when entering time manually, these can cause the company financial issues in the long run. Employees might get too much overtime, or too little. Here are many ways to reduce data inaccuracies and opportunities for time theft. (If you think your business might be a victim of time theft, check out this blog). Having an automatic, cloud-based software helps to eliminate this problem because no human interaction is necessary. Electronic data can be collected by employees punching in and out through a web browser, a biometric time clock, or even through their mobile devices. Once the data is collected, it is then transferred to the time and attendance system automatically. 

Productivity

Say goodbye to collecting time cards and entering data manually. With automated, cloud-based software, your HR department will be able to spend their time completing other tasks without having to worry about time and attendance. It is not uncommon for companies who track time and attendance manually to spend hours running payroll at the end of each pay period. Whether it is only one person doing it or multiple, at the end of the day that time adds up to a lot of productivity hours with a direct expense. Having an automated time and attendance software ensures the data is electronic, which makes it easier to automatically transfer the data to the payroll software. Most automated tracking softwares are integrated with payroll. With Dominion, you are able to have a single-source solution, meaning your hours flow directly into payroll. This will eliminate the need for dual entry between platforms, allowing you to trust that wages are paid accurately. Dominion’s Time & Attendance software also lets you pull reports to see which employees are available to work and which employees are close to hitting overtime, this allows managers to forecast and create accurate and non conflicting schedules. Our time card authorization screen has the capability to alert managers and supervisors of abnormal punches such as clocking in late, leaving early, or no punches on scheduled days. Approving normal hours can also be done in no time, allowing managers and supervisors to focus on other tasks. Like mentioned before, automated, cloud-based time tracking softwares eliminate human interaction, resulting in accurate data entry and payroll processing. 

Reduces Absenteeism

A couple of weeks ago I wrote about the cost of absenteeism in the workplace and how to control it. In the blog I mentioned some of the causes, and the ultimate solution to reducing absenteeism, which is to track your employees’ absences (hours). By doing so, managers can report the reasons for being absent and be able to forecast in order to make better schedules, which results in more motivated and productive employees. Tracking absences also ensures that overtime limits are not surpassed, reducing burnout and improving productivity. When managers track employees with unusually high levels of absenteeism, they can decide on the appropriate disciplinary actions that must be taken. 

Transparency

Having an automated and cloud-based time and attendance tracking software allows for a more transparent workplace. All the data is stored in the same system, making it visible in real time, at any time. Employees can log in to their accounts and view their schedules, see how many hours they have worked that week, request time off, etc. As for managers and supervisors, they don’t have to sit around and wait for reports to know who has been working that week and how many hours they’ve worked. As mentioned before, they will be able to see the reports whenever they want, wherever they have internet access.

Compliance

Depending on the location, nature, and industry of your business, you may face numerous requirements related to time and attendance tracking. Automated time and attendance systems keep all organizational and administrative operations and procedures on the right track and in line with the FLSA and overtime regulations. Studies show that the most common cause of noncompliance is inaccurate record keeping, which leads to payroll errors. The best way to avoid noncompliance is having an automated and cloud-based time tracking software that will allow you to track time accurately, automate rules around compliance, and provide required time and attendance data in case of any IRS audits. Keep in mind that the Department of Labor can request an audit of your company at any time, so having a cloud-based time tracking solution can ensure that the data collected is available at all times so that you are able to provide the necessary records when requested. 

Security

If your company tracks time and attendance manually, you probably have endless stacks of time sheets and reports stored somewhere safely (or at least you should) in case of an audit. When you go with a cloud-based time and attendance tracking solution, you no longer have the responsibility for safekeeping your data. Instead, you pass that responsibility to a third party. When choosing your provider, make sure they are trustworthy and are available at all times. Normally, your provider will have firewalls, antivirus protection, encryption, and offsite data backup. Check out this blog to learn how Dominion keeps their clients’ payroll data secure. 

Sources:
http://www.dresserassociates.com/pdf/whitepapers/Sage-HRMS-Top-Seven-Benefits-of-Automated-Time-Attendance-System.pdf
https://www.replicon.com/sites/default/files/docs/8Best_Practices_TA.pdf