Time And Attendance Software Price Guide
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Time and Attendance Software Tips
Time and attendance software help companies manage payroll accounting automatically and easily. Stream-lining your employee's time logging system can save your company a lot of money and effort.
Employees may either round up their hours on their timesheets, or make honest mistakes, but either way many companies are giving away money they are not aware of. It may seem like very little on an individual basis, but when you take into account almost every employee in a company, things quickly begin to add up.
In fact, a 2010 Axsium Group survey found that large companies save on average $1,600 per employee after implementing a workforce management solution.
Learn more about costs and savings in our Buyer’s Guide.
Utilizing the latest time and attendance software packages is a great and effective way to keep better track of your employees work hours and schedules. These packages commonly consist of a time-collection method and time and attendance recordkeeping and scheduling. What type of time and attendance system you choose to implement will depend on the number of employees you have, as well as the type of business you own.
Time Collection Methods
At the end of each pay period, there is usually some method of time-collection involved to log how many hours your employees have worked. Time-collection can be clocked in and out on a daily basis, or can be logged in all at one at the end of the pay period. There are a few different options available for employees to log their hours.
- Badge card time clocks are very small and look like any credit card machine you would see at a retail store. The time cards themselves are also about the size of a credit card making it easy for employees to carry in their wallet or purse.
- Biometric time clocks are becoming more and more popular. Bio metric clocks eliminate the “buddy punching” problem (when one employee punches in for a co-worker) because each employee uses their finger or hand to clock in. These time clocks also eliminate the extra cost of printing new or replacement time cards. However, these systems can be expensive.
- Web-based computer log in stations are a great time and attendance option. Most use a static IP address that you specify ahead of time to monitor employees who "punch" in and out. Because each employee uses their own computer to log in, monitoring their exact time they come in is very easy and accessible.
- IVR systems are great for companies who have employees who work in remote offices or in the field frequently. Employees simply have to call in using a cell phone or landline to clock in. They can submit time sheets and transfer labor hours in real time all over the phone.
Scheduling and Record Keeping
The other part of time and attendance software involves managing and organizing your employees’ logged work hours. The latest scheduling and record-keeping software makes it easy for you to keep track of hours and availability manage vacation time or unexpected absences, account for overtime, and calculate payroll.
Scheduling software is easier than ever to use, and many companies offer free webinars or training programs to make sure you are using the system to its full potential. Time and attendance software that uses a cloud can access scheduling information from anywhere with a wireless connection. When creating time and attendance reports, you can also choose to use the standard ones included in the software, or customize them to fit your company’s needs.
Saving your company time and money is very important especially with today's economic climate—and you should stream line all expenses wherever possible. Having an up-to-date time and attendance system can give you a more accurate logging of employee hours, and allow you to manage employee schedules with ease.
Time And Attendance Software vendors...