Every penny that a business saves on the expenses side of its ledger can be translated into lower costs for customers or to greater profits for owners. For most businesses, payroll is the single largest regular expense, so that extracting greater efficiency from this resource can lead to great returns even in the short term. Flexible, modern, high-quality timekeeping software can help in this effort, allowing businesses to make the most of their employees.
Traditional timekeeping solutions, while often serviceable, have a number of weaknesses. To begin with, they do little to prevent fraud and malfeasance, being incapable of resisting collusion among employees regarding clocking in and out from scheduled shifts. They are often also susceptible to tampering, whether by hourly employees or low-level managers, so that higher-ups can often only rely on their statistics in the most tentative of ways. They are also invariably inflexible, requiring employees to present themselves repeatedly at particular locations that may or may not gibe well with their duties for a given day.
Modern time-keeping software and other products address these issues head-on and also bring new levels of flexibility and power to the subject. Biometric systems, for example, ensure that a given employee may only clock himself in or out, as these measure personally-unique characteristics such as fingerprints or iris patterns.
Web-based timekeeping solutions allow employees much greater flexibility when it comes to clocking in or out, as these may be accessed from any Internet-connected device, given the appropriate credentials. This means that employees who work in the field, for example, may nonetheless provide thoroughly accurate, to-the-minute timekeeping records which can be presented to clients or managers. Such web-based solutions also often remove the responsibility of maintaining the underlying software to the vendor, relieving businesses from a potentially burdensome duty.
Modern timekeeping systems of this sort invariably also incorporate powerful data-gathering and analytic features, too. These tools give decision makers much easier access to this ever-important data, so that better, more effective choices regarding payroll expenditures can be made. These systems often integrate seamlessly with existing database and financial software, so that their output can be put to good use as easily as possible. The flexibility and power that these systems can deliver, then, often make them very strong investments.
