Punch Cards Are a Thing of the Past: Save Money with the Latest Clock-In Technology
In business, an old-school approach can be very valuable—for instance, a face-to-face meeting with a client might leave a better impression than a quick phone call or email. Yet, when it comes to saving money, technology can be your friend.
You’ve undoubtedly heard the phrase “time is money,” and we’re about to get literal with that old adage. Whether you’re using a punch card clock, a digital time clock, or a fingerprint clock, upgrading to an online time tracking system can reduce labor costs, saving you time and money. Keep reading to find out:
- More about time clock software
- How time clock software can stretch your budget
What Is Time Clock Software, and How Does It Work?
Keeping track of your employees’ hours is an unavoidable part of running a business—as is creating work schedules, reviewing timesheets, and managing the payroll. But just because there’s no way around these necessary (but tedious) tasks doesn’t mean that you can’t simplify them. Time clock software is quickly emerging as a must-have piece of technology for businesses operating in the modern day.
What It Is
So, what is an online time tracking system? Simply put, time clock software makes the punch-in process quick and easy by using cloud-based technology. Rather than clocking in through a mechanical time clock, employees can do it entirely online through any internet-connected device (computer, tablet, smartphone, etc.).
How It Works
Your employees are given a username and password that they’ll use to clock in and out for every shift (goodbye, paper time cards!). Then, at the end of every pay period, you’ll log in to your managing account to collect their time records.
Time clock software offers employers a great deal of flexibility. If you want, you can limit employee logins to a specific IP address. You can also choose the method by which they log in—username and password, facial recognition, email address, or an assigned QR code.
Beyond the Standard Time Clock
Because time clock software is cloud-based, you can combine other management features that go beyond simply clocking in and out. These additional components can help you to ensure that your business is operating the way that you want it to.
Track where your workers are punching in and out from with GPS coordinates for every login. This feature is especially useful for businesses with multiple locations or job sites because you can ensure that everyone is where they need to be at the time they’re supposed to be there.
Whether it’s a sick day, vacation day, or paid time off, you can manage it with time clock software. Customize your system so that employees can request off through the software on days when they’re sick or just need some personal time. Change the settings based on your needs so you can give them as much (or as little) freedom as you think is appropriate.
Create automatic break rules so that your time clock software automatically deducts time from employee time cards. Choose how many hours of work will trigger the break time, and determine how long the break will be. Assign different break rules to different employees, and add or edit rules whenever you want.
Automatically calculate overtime, and stipulate as many different kinds of overtime as necessary. This will save time trying to calculate overtime into your timesheets, and eliminate costly errors from appearing on your payroll. You can even set up overtime alerts with daily or weekly time thresholds so that you’re never caught off-guard by extra hours.
Project and Job Codes
Project and job codes show you how much time an employee is spending on a certain project or job. Create different codes for your employees to select as they clock in, and find out exactly how your company’s time is being divided among each individual employee.
Now that we’ve showed you how time clock software can make your business more efficient (and make your life easier), it’s time to cover one last selling point: Upgrading to an online time tracking system can save you money.
Not only is the technology behind time clock software convenient, but it also eliminates the need for some expensive staffing, allowing you to save valuable human resources from being wasted on banal task work. Plus, you can even integrate the software into other online tools, creating a seamless system with no excess labor costs.
Make the Switch, and See the Benefits
There are valid arguments to be made for preserving certain aspects of the “old way” of doing business. Maintaining an outdated time clock system isn’t one of them. Time clock software is easy to use and will save your company time, money, and stress. No matter how you look at it, making the switch is worth it—for you, your employees, and your business as a whole.