A Discount Time Clock Can Have Hidden Costs
When you're running a business, regardless of its size, you know how important it is to save money wherever possible. But while it might be tempting to cut corners and buy discounted equipment and software, that cheap purchase might hurt you in the long run.
For example, a bigger up-front investment in time-clock software can actually save you money, whereas a discount time clock might prove to be a hidden source of lost revenue.
Investing in attendance-management upgrades
A simple, discount time clock may be the best solution for very small operations where managerial team members work closely with the hourly employees. But in larger workplaces, it's far too easy for one employee to cover for a coworker's late arrival or early departure by clocking in or out. Not only will you be paying an employee for time spent away from their work station, but you will also lose money through reduced productivity and efficiency. Upgrading your discount time clock to a more integrated, advanced solution can prevent time-clock abuse, which will save company dollars and ensure a greater level of productivity.
Even if time-clock abuse is not a pressing issue, other features available through advanced attendance management programs can make a real difference in the day-to-day operations of your business. Discount time clock systems will provide only the bare minimum in attendance tracking. You'll know when your employees clock in and when they clock out, but such programs don't support integration with payroll software.
Your accounting and payroll department's efficiency will increase dramatically through the implementation of a more advanced, integrated attendance-tracking solution. For very small, owner-operated establishments where you're responsible for handling payroll in addition to a host of other duties, upgrading to a more advanced solution can free up a significant amount of your time.
Moving away from a discount time clock system can offer a big return on your initial financial investment. With a feature-rich attendance-management system, you will be able to streamline a variety of operations to ensure peak efficiency across the board. You'll also be able to reduce the excessive use of paper time cards and related documentation. Moving toward a less paper-dependent system can reduce a variety of costs, from time-clock abuse and payroll processing hours to the impact your business has on the environment.
Choosing a customizable workforce-management software solution can help you to recover all these hidden costs over time, and to bolster your bottom line along with employee productivity. Consider the benefits of upgrading your time-management system, balanced against the initial investment cost. In the end, you may be surprised to find out just how much your discount time clock is actually costing your company.Ready to Compare Time and Attendance Systems Price Quotes?