BY Judah Hirsch Articles
In most small-and-medium companies, payroll takes the cake for the most sensitive, time-intensive work. More often than not, it also incurs the most expenses. There are a lot of things that could go wrong in the process, and many are out of the accountants’ control.
Forbes mentions payroll fraud to be a key culprit in many businesses. This includes time theft and buddy-punching. The former is the act of logging in and then skipping work. The latter involves logging in on behalf of another, who may not even be in the office.
One of the advantages of having a payroll automation software is that it increases motivation and boosts productiviry.
Payroll automation includes the use of biometric logs (often fingerprints) as a means to track employee activity. Because of this, it is nigh-impossible to commit time theft and buddy-punching. Here are some of its benefits.
When a biometric system is in place, HR managers can very easily track employee activity.
Biometric systems can easily be consilidated into any payroll software. Because of this, the managers can see trends and all sorts of information in a single click. A readable format of the data can easily be exported for documentation and data analysis.
Through the biometric system, the company will easily know who is coming in late, and who goes out early. This also sheds light on the number of employees exceeding their allotted break times and also allows the managers to easily track leaves, time offs, and other scheduling movements.
Biometric systems also make things easier for the workers. There’s less time needed to place a finger on a sensor than to find and punch in a time card. Unlike some companies who still use manual log sheets, the process can take longer, plus the fact that it can easily be spoofed. That’s less time spent in logging hours, and more time spent doing real work.
Another great benefit of biometrics concerns the company’s savings. Biometric systems do not require heavy investment. It pays for itself in time, saving the company valuable resources in the long run.
Biometric systems are a holistic solution, and is a must for every company. Such a change is self-sustaining, and (unlike most other company-related changes) does not pose any adverse impact on the employees’ workflow. It is an important leg up in keeping a handle on the business.