People survived for years with manual time clocks, punching in and out each day. With the proliferation of computers, many people began recording time on spreadsheets or through other digital means. However, in actuality, they were still recording their time manually. They were simply manually punching in and out on a spreadsheet. In order to truly automate this process, time clock software is necessary.
Today, online time clock software provides many benefits for a company, and it is quickly becoming a necessity in the business world.
Clients want more transparency today than ever before. They do not want their invoices from your company to be rounded to the nearest hour. Today, clients want detailed invoices that list to the minute how much time was spent on each project. With manual time reporting, this would be a huge effort to get the invoices to include that level of detail. However, online time clock software makes invoicing down to the minute a breeze.
With the click of a few buttons, you can use the software to generate reports of exactly how much time was spent on each client’s project. This level of detail is quickly available at your fingertips, and it can be very useful when discussing projects with your clients. It can also be effective when determining why a project may have gotten off-track.
Online time clock software makes project management much more effective than ever before. With online timesheet software, project managers can see which parts of a project stayed on schedule and which tasks took longer than expected. This type of reporting is extremely valuable to your organization. Using this data, your team can perform root cause analysis to determine what caused the delays in the project. Once the cause is determined, the team can be sure that the risk is mitigated on future projects.
It may seem like these items mentioned above could still be performed manually. The truth is that they could. But your competitors are no longer doing them manually; therefore, they are much more efficient as these tasks. If you want to remain competitive, you must implement some of these efficiencies as well. Not only does a time and attendance app help you remain competitive, but it also helps ensure you stay in compliance with the latest labor laws and regulations.
Overtime pay is a big deal per the Fair Labor Standards Act and getting an employee’s overtime pay incorrect can have dire consequences. Numerous companies have been hit with large lawsuits because of this, and online time clock software can help your organization ensure compliance with these laws. The rules can change frequently, so your software provider can make sure that your system stays up to date with the latest regulations. This can save you lots of time, headaches, and money!
Not just overtime, but an online timecard system can make it possible to process your ordinary payroll timely and efficiently as well. No more manual calculations and reaching out to employees because of incomplete timesheets. Make this process run smoothly by implementing this new software and your employees will be happy as well because they will always be paid on time.
Finally, the reporting capabilities alone of online time clock software make it a must-have in today’s world. There is a myriad of reports that can be accessed through this software. Just a few examples include absenteeism, hours worked vs hours scheduled, overtime, hours billed to clients, and how many breaks employees are taking. Having access to these reports allows leadership to make important decisions to keep the company in a strong financial position.