3 Critical Reasons Small Businesses Should Automate Their Time Tracking
You may have launched your small business for any number of reasons. Perhaps you wanted to pursue your passion, or enjoy the freedom the life of an entrepreneur can provide.
Chances are a love for payroll management isn’t what inspired you to open up shop. And yet, there are countless tasks small business owners must juggle to succeed in today’s market—time tracking included.
This is where software like TimeTrakGO comes in. From simple accountability to real-time reporting, time tracking software boasts a number of appealing features. Here are three critical reasons why you should automate your time tracking:
- Enjoy a More Efficient Process
The beauty of an automated time tracking system is that it allows small businesses to spend less time on mundane payroll processes. Manually collecting and calculating employee time eats away at valuable labor hours. Conversely, automated time tracking offers maximum productivity. It reduces tedious work and provides a central database for your time and attendance information.
In addition to offering faster payroll processing, time tracking software can be accessed from any location, on any device. This means employees can track their own time, and you can focus on other tasks. And say goodbye to hours wasted on approvals—with automated time tracking, your staff can stop interrupting your workflow while ensuring a timely and accurate paycheck.
- Save Money by Eliminating Errors
You and your staff are only human. If you are manually reporting employee time and attendance information, you will likely make a mistake at some point. Even with the best intentions, it can be difficult to ensure accuracy when you are transferring information from paper time cards into a complex spreadsheet. And mistakes can be costly.
For instance, you could lose money overpaying your staff if you miscalculate their labor hours. Moreover, if your employees report time and attendance errors, you risk losing time making the corrections. And time is money, right?
Time tracking software can improve your bottom line by promoting time card accuracy. By removing data transfer altogether and automatically incorporating exceptions like tardies and absences, you will generate extremely accurate information with fewer steps taken to get there.
- Increase Productivity while Decreasing Costly Overtime.
Automated employee time tracking offers a clear picture of hours worked, paid time off, and unplanned overtime. If overtime is a struggle within your business, it might be your timekeeping method. Traditional paper time cards or hand-written timesheets are often turned into payroll just once per pay period. By then, it is too late to act on employees with excessive overtime.
In simple terms, the time clock software can predict future overtime by totaling time already worked as well as future scheduled hours. This information can help you identify costly overtime and optimize employee schedules moving forward, eliminating the overtime before it ever occurred!