The Benefits of Having a Time Tracking System

CHEQROOM focuses on making it easier for you to track your equipment. But your equipment obviously can’t use itself – that’s where your employees come in. And how good are you at tracking & managing them?

The importance of investing in a quality time tracking solution cannot be stressed enough. A well-designed time attendance solution can simplify employee time tracking, eliminate overhead costs, and streamline the payroll process. Whether your company is big or small, implementing a time and attendance solution is a business move that pays. Here are four ways a time tracking system can revolutionize the way your business operates:


Eliminate outdated systems and reduce costs:

Updating to a digital time tracking system saves you hours of unnecessary and costly manual data entry. It also reduces the amount of time you and your staff spend on time attendance calculations. Integrating your business into a modern day solution means no longer having to contend with time card confusion, paperwork, and human error. Accidental or deliberate, employee time theft is a significant cost. Having your employees punch into a system can help you eliminate time inflation. What’s more, replacing your current system with an automated one will free up valuable time for staff who are usually involved in payroll preparation.


Streamlined time attendance management:

Keeping track of when your employees are and aren’t working is far from easy, especially using traditional methods which show a limited amount of information! A modern time and attendance system not only displays total hours worked, it reflects how your employees are spending their time through multi-level job costing. Having the most accurate punch detail possible benefits your business by allowing you to discover specific information that can be invaluable for your business’ operations.

For instance, a construction manager wanting to know how many hours his employees spent at a specific job site can run a report, view that data, and come up with a billing estimate based on the hours worked. Employers can also set up specific rules like overtime and break rules, and some of the better software systems even allow for supervisors to keep track of PTO, vacation, and sick days. Web-based systems go a step further by streamlining all the data into one database so administrators can manage everything from anywhere.


Advanced workforce management tools:

Many time tracking systems also come with advanced workforce management tools that allow employers to create a strong system around which to anchor their workforce. For instance, FingerCheck, a web-based time attendance system, offers administrators the option of setting up daily automatic alerts to stay on top of punch activities, as well as online reports that can be automated and sent to them on a regular basis. These reports can be generated for a variety of purposes, whether it be to simply review the company’s weekly time card or to provide meaningful data in a more detailed scope.

Another factor to consider in choosing a solid time and attendance solution is the software design, functionality, and customization options. You might want to provide your managers with user roles so they can supervise employees, but restrict them from viewing sensitive data. A good system will help keep the boundaries you want, and also provide your employees with user logins so that they can view their hours online and manage their own schedules and time off.


Feel confident with flawless recordkeeping:

As an administrator, it’s your job to comply with labor regulations and keep detailed records regarding proof of attendance. With a timekeeping system you’ll be able to run reports and keep detailed records of it. A web-based time and attendance system allows you to effortlessly oversee your employees’ hours worked and punch activity, and stores the data so you can go back and reference it. Gone are the days of having to store paper time cards – all your data will be stored on the cloud so you can access it whenever you need it, wherever you are. Additionally, this means you will have protection against labor disputes and federal laws which mandate that employers keep wage computation records for a given period of time. As a busy business owner, the assurance of having your recordkeeping automated may be well worth the cost.


Bottom Line:

Though taking the plunge can be daunting, investing in a quality time tracking system can enhance the way your company does business and help you oversee your workforce with total control. I am obviously a fan of FingerCheck, however there are many companies that offer a wide range of time and attendance services. When it comes to your search for the ideal time tracking system, be sure to have all your specific requirements written down so you can keep in mind the features you need. Good luck!


This guest post was written by FingerCheck’s Katherine Muniz.