ROI stands for Return On Investment which is a performance measure used to discover the efficiency of an investment. As an investor, understanding the ROI in business can make the difference between success and failure. Labour cost is an inevitable investment of every business. Studies reveal, Instead of manual time tracking method, implementing Automated Time and Attendance Software to manage labour costs, will reduce unnecessary labour costs and improve productivity. Having a Automated Time and Attendance Solution provides the following advantages and improves your ROI (Return On Investment).
Tracks Real-Time Data
Automated Time Attendance Solution tracks real-time data and provides valid employees time and attendance data; it effectively avoids data-inaccuracies and time theft.Adopting this system prevents revenue leakage and thereby maximizes ROI.
Reduce Manual Process
The Automated Time Attendance Software significantly reduces the time taken for preparing timesheet entries.unlike manual time tracking system saves cost, avoids discrepancies in payroll calculation.
proper tracking of overtime calculation eliminates the needless overtime cost incurred.
Creates self Responsibility
Automated solution for time and attendance allows employees to manage their time and this in turn eliminates over-payments and also encourages increased productivity.
Avoid Employee’s Fraudulent Activities
Buddy punching is one of the common time theft problems companies’ face. Buddy punching arises when an employee gets another employee to punch their time card for them; with Automated Time Attendance system combined with biometric access effectively eliminates this buddy punching and fraudulent clock-ins.
Are you a business owner? Thinking of ways to improve your ROI ? Then Contact us to automate your time and attendance system.