Due to intense competition companies are striving to achieve ever higher levels of productivity and operational efficiency whilst reducing costs, just to stay in the market. Time and attendance system can help organizations achieve improvement in the effectiveness of their workforce.
For many businesses, automating the employee attendance data–when employees begin and end their shifts–is still a manual process. Even businesses that have automated or computerized processes such as scheduling, inventory, purchasing, general ledger and payroll processing still use manual methods–such as time cards or attendance sheets–to collect time and attendance data.
Manually tracking employee attendance is an inefficient and a highly labor-intensive process that is error-prone. There are several immediate and long-range problems created when manual collection of employee time and attendance is not replaced with an automated system, like Data entry errors, Payroll errors that need to be reversed and corrected, Cheating by employees, Unauthorized overtime, Inability to track workforce productivity and Inability to determine true employee cost.
Time and attendance software uses several different methods to enhance the ability of a business to accomplish employee attendance tracking. A time and attendance solution not only automates data collection; it also helps you better manage your employees. Time keeping software can use electronic timecards and with the help of these tools, time and attendance software gathers the necessary information to calculate payroll correctly.
Automating the attendance process, thereby ensure accurate collection of raw data which is then sent to payroll software. How accurate can the finished payroll be if the data used to compute the payroll is not as accurate and unbiased as possible?
Components of Time and Management System
- Workforce scheduling
- Capture Time
- Time Evaluation
- Leave Management
- Labor Cost Reporting
Automating the collection of employee attendance data offers many immediate and long-term benefits:
- Companies can increase the accuracy of payroll reporting and protect it from potential payroll fraud by reducing proxy punching and time inflation.
- Regulatory compliance with proof of attendance
- Labor analytics can be used to track and evaluate the performance and work activities of associates and thus understand productivity issues, identify associate problems
- Accurate raw data is fed into payroll processing
- Diminish paycheck errors that need to be addressed
- Dramatic decrease in time cheating by employees
- Fair and uniform application of work rules and overtime authorization
- Accurate data on employee productivity
- Tracking of true labor costs right down to a specific product, project, task or process
Close integration among payroll, attendance, and leave management allows you to define your payroll formulae with ease. You can pay your employee for every minute of overtime he does. Also, you can cut pay for every minute he is late. Sage Pocket Payroll Software seamlessly integrates with Time and Attendance software to help businesses exchange time and attendance data with payroll software system for accurate, efficient payroll calculation.
Payroll Software to Choose for Time and Attendance Solution
In India, You can go with various payroll software options from local software vendors, but if you are looking for a good brand you should always choose a well establish brands with better support and software updates happening at a regular interval. Sage India provides payroll software known as Pocket Payroll Software. you can visit http://www.pocket.in