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Time theft is a major issue that is plaguing companies from all over the world. Employers worry about their losses that are occurring in their company everyday because of this illegal practice of time theft.
What time theft basically means is that in companies where the time and attendance of arrival and departure needs to be entered manually, the employees are not writing their working hours accurately.
For example if they enter at 9 am they are writing 8am on the time sheet. They are paid in accordance to that time however the work done is a lot lesser because of the number if office hour they have done is really less. This practice can now be avoided with the help of attendance biometric software like https://indextimeclock.com/. So why spend money and incur losses by sticking to the old methods when you can easily switch to the biometric procedure and save money. Let’s take a look at the how the biometric attendance system can save a company with payroll losses.
The BEST Time Management App
Microsoft Dynamics Time Management app was created for portable time management so it’s possible to use a tablet to create, view, edit and submit time cards. The app can manage all of the company’s payroll responsibilities and it works seamlessly with the rest of the Microsoft Dynamics 365 suite of application including finance and human resources.
So it is possible to track your employees working hours, sick days, etc… and then to pay their wages through the finqance app using your preferred payment method through the Service Based Architecture (SBA).
This is perfect for those companies that are already plugged into the Microsoft Dynamics GP database and your data is entered into a workflow process that you manage. This application is dependent on Microsoft Dynamics GP2015 R2. To get a better understanding of this application, you can read more at Use Dynamics.
How payroll losses can be overcome using the biometric attendance system
No proxy – since the system is powered by a biometric algorythm, if the employee is not physically present his or her logging on procedure is not possible. So no other employee can provide the biometric in place of him or her, this will ensure that buddy punching practice gets completely eliminated. Until and unless the fingerprint of that particular employee is scanned the time count will not start so no one else can give the attendance in place of that employee.
Moreover the timing calculation is accurate. So if someone enters at 9 am the time shown at the system will be 9 am without any kind of error. So they cannot commit time theft of even one second. So employees will get payrolls in accordance with the number of hours they have spent in the office thus saving the company from having losses.
No extended break time – in manual systems employers often take the advantage and extend the break time beyond the actual hours. This is more than often untraceable because someone else punches the card for them. The biometric attendance software will also track the amount of time they are spending outside and if that exceeds then the suitable amount of money will automatically get deducted from their pay scale. This ensures a fair mean of calculation with the company suffering zero losses. Eventually all the employees will be more productive and the company will make even more profits with the help of them.
No labor cost – another huge advantage is that the manual system requires additional employees like security at the office. They need to be paid on a regular basis which can cost the company heavily. The organization can easy cut this cost by installation of automated system that is going to perform all the work without any manual help and also will contain zero error that was present otherwise. After the initial installation cost there is no other cost and one can easily get high returns on this one time investment. So make more savings with these advanced mechanisms and incur no loss. Technological advancements like this are ensuring that companies minimize all kinds of errors and losses that happens otherwise.
Increase productivity – when the system pays according to the number of hours that people are working, the employees automatically tend to be a lot more productive than what they were previously. Since there is no scope for generating fake records they work really hard and thus the quality of the service gradually improves making the company reach new highs.
This is an efficient method to ensure that the employees are regular at their workplace and are not late. They will be all the more aware and alert regarding office hours and work which will result in better results of whatever that does. Thus this increased productivity is ultimately going to benefit them as their pay scale will be increased and at the same time benefit the company as they will make more profits if the employees are all the more active at the workplace.
This shows the biometric time clock is going to ensure a smart and smooth system that is free of all kinds of internal office corruption. Everyone will get rewarded for their effort and no unfair means will be practiced in and around the office campus. Ultimately the company will suffer less losses from the payrolls as there will be zero chances of anyone doing time theft at the workplace. Thus a healthier company is going to be generated where everyone works hard and get as much salary as they deserve and this take the company to the top.