Workforce Management: Biometric Time and Attendance Solutions

Person Opening Books

A Changing System

 

Entering a timesheet is typically reliant on an employee’s memory of their hours, leaving them and their employer wide open to errors and potential conflicts. Thankfully, the world of time tracking has evolved in favor of a more comprehensive workforce system. There has been a significant shift away from the traditional paper-based time tracking systems that have been the root of so many problems for businesses. Automation of timesheets seems a logical way out of wasteful activities that cost great sums of money due to the misuse of time and resources.[1] Technology such as cloud software, smartphones, and biometrics has made it seamless and efficient to automatically fill in a timesheet. This conversion of manual timesheets to a cloud-based digital system will provide real-time visibility, measurability, and accountability to employees, supervisors, and management, anywhere in the world.

 

The move to Software as a Service (SaaS) solutions is rapidly changing the way businesses are run globally. Xero is a prime example of a SaaS player who is greatly improving the way we operate as businesses and is making previously expensive technologies affordable and accessible to anyone with an internet connection.

 

 

Key Findings

 

A survey conducted by Software Advice discovered three key findings:

 

  1. Nearly half of all hourly workers admit to fabricating the amount of time they work for each of their shifts.
  2. One-quarter of respondents admitted to clocking more hours than they worked.
  3. Time and attendance software that utilizes biometric technology proves to be more effective at preventing time theft: Just 3% of employees were recorded stealing time.

 

The data is very telling of what the future of timesheet tracking could look like. Currently, biometric clock-in technology is not used by most businesses that require employee timesheets. Yet, it’s the most effective at minimizing time theft. This is expected seeing as biometric clocks are a fairly new technology. But it is growing. Research shows larger businesses are more likely to use biometric clock-in technology with 50% of businesses at 1,000 or more employees adopting biometric clocks as their time tracking method for hourly workers. Meanwhile, just 17% of biometric clock users are businesses with 50 employees or fewer, and these same businesses account for 65% of those using manual, paper timesheets.[2]  It appears there is a perception held by small businesses that this technology is beyond their means and won’t provide a return on their investment. Despite this, it remains true that outdated time and attendance systems will cost companies more money in the long run.[3] As said by Warren Buffett, “smart and continuous financial reinvestment in your company is crucial to its survival, particularly in the start-up stage.[4]”

 

 

Highlights of Our System

 

Timecloud is unique in the sense that we offer not just the software required for a time and attendance solution, but the biometric hardware too. This allows us to offer the most comprehensive time and attendance solution for businesses to fully optimize their workforce. At Timecloud, we provide face, palm, and fingerprint scanners as part of our biometric solutions line-up. With our biometric palm scanners, employees simply raise their hand near the device while it scans the vein structure in their hand, identifying the employee and seamlessly clocking them into work or a specific job. This means workers can get on with their job sooner, and have their hours accurately recorded every time. If you’re interested to know more about our time and attendance clock-in solutions, find out more here.

 

 

If you’re after an advanced time and attendance solution that reduces time on admin, human error, and time theft, then BOOK A DEMO WITH ONE OF OUR CONSULTANTS to discuss your needs and get started right away or find the a plan to suit your business needs.

 

 

References:

[1] Alminar Bessie et al., “Network-based payroll system with biometric technology for Peter-Paul Medical Clinic, Inc.”, DLSU-D air, De La Salle University-Dasmarinas, 14 Jan 2016, http://thesis.dlsud.edu.ph/id/eprint/871

[2] Erin Osterhaus, “How Software Can Reduce Payroll Losses from Time Theft.”,  Software Advice, 23 Apr. 2015, www.softwareadvice.com/hr/industryview/time-theft-report-2015/

[3] “5 Reasons Biometric Time Clocks are Worth the Investment”, Wasp Barcode Technologies, n.d.,https://www.waspbarcode.com/buzz/5-reasons-biometric-time-clocks-are-worth-the-investment

[4] Brenton Hayden, “Warren Buffett Knows It. Reinvesting in Your Business Can Lead to Huge Growth”,Entrepreneur, 29 Dec. 2014, www.entrepreneur.com/article/241196