Calculating or at least estimating the return on any investment you make is essential no matter what industry you’re in. Here are four measurable reasons why automating your time attendance system with ExakTime provides a significant return on investment.
Reducing Human Error
To err is human, as the famous saying goes. While the occasional human error is unavoidable, frequent and repeated errors can become extremely costly when it comes to time and attendance tracking.
Most inadvertent time tracking errors occur during the manual data entry process. Numbers on a handwritten time card can be misinterpreted, miscalculations can occur or a bookkeeper can simply hit a wrong key when entering the data.
One or two errors are costly themselves, but when those errors add up over time the numbers can become astronomical. Our time and attendance synchronization tools, SyncLinx and AccountLinx, cut data entry time by over 90%, reducing the number of opportunities for mistakes to occur.
Eradicating Time Theft
Unfortunately, employee time theft occurs- sometimes at alarmingly high rates. Handwritten time tracking and even old-fashioned punch clocks offer no real safeguards against buddy punching, hour inflation or other methods of time theft.
Collecting and storing records digitally inhibits employees’ ability to fudge time records in their favor. It also allows for quick and easy data exportation (JobClock Hornet sends records to your office automatically every hour), ensuring any inconsistencies are caught and rectified quickly.
Our biometric mobile time clock, PocktClock/GPS, takes this protection even further by using your Smartphone’s camera to take a picture of the employee clocking in or out for quick and easy verification.
Shorter Payroll Processing Times
Time is money and automating your time and attendance system will significantly reduce the amount of time you spend processing payroll every week.
Collecting time cards, calculating time data and then manually entering it into your payroll software consumes a substantial amount of time and money.
By automating this process, our system reduces the time you spend processing payroll by 50%.
Eliminating Material Costs
Automating your time and attendance system will also eliminate several reoccurring material costs associated with a paper time card system. You’ll spend less on paper, ink and storage of paper records.
Even better, a paperless time tracking system is an environmentally friendly time tracking system. You’ll save money while helping out Mother Nature in the process. It’s a win-win!