A time and attendance software as the name suggests is a smart software solution that tracks the attendance of employees at an office. There are several other applications of a system like this and it can be implemented in several industries. Schools, businesses, and government offices tend to have attendance management systems in place to track and record the entry and exit times of people in the building.
The traditional systems are flawed, time-consuming, and less flexible. This type of system is useful for various purposes, including analysis, payroll, assessment, and much more. Considering the fact that this is the digital era and also the post-COVID-19 era, it is highly advisable for every business to implement such a system.
What is a Time And Attendance System?
This is software that gathers vital information on the employee working at an office or students studying in a college; depending on where it is installed. It is a system that gathers and stores details like entry, exit & break times. It can be configured with the off days and also be designed to provide access at preset times of the day.
It is the ideal system to analyze the behavior of the employees in terms of their working hours and create performance reports based on it. It also helps simplify the payroll process. It helps solve many common issues generally faced by using alternative attendance management systems.
Here are some statistics and facts to explain it better:
On any given day, 3% of the workforce is on leave in the USA.
20% of the workforce is late once every week in the USA.
Without an attendance plan in place, it is very difficult to generate reports to study employee behavior.
80% of the manual timesheets need correction.
1 in 3 times & the attendance system is outdated.
Time theft leads to a loss of $11 Billion USD by businesses in the USA.
Common Issues With Attendance Management Systems
Almost all of us are familiar with attendance systems since they happen to be everywhere, like in schools, colleges, offices, etc. This includes systems that simply use a pen & paper, scanning code, digital scanner, mobile, computer, and many more.
One of the main issues at educational institutes with outdated systems is buddy punching, data storage, analyzing the data for generating reports, and making vital decisions based on these reports. It is also easy for employees to commit time theft with this type of system and there is always a greater possibility of human error.
The data from attendance management systems are used for the purpose of generating payroll, assessing behavior, optimizing the system, and much more. This is harder to manage for those using an outdated attendance system. On the other hand, the newer systems that implement better technologies are more effective when it comes to improving compliance, reducing cost, preventing time theft, and eliminating mistakes.
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Importance of a Time and Attendance Solutions
Businesses tend to use several methods to assess the performance of their employees. Several big decisions are taken on the basis of their performance as well. One of the methods used to assess performance is how punctual the employee is and the time they put into their job. Educational institutes also utilize the attendance record of the students for various purposes. The data from an attendance system is used for various applications, one of the main one's being payroll.
Developing time and attendance solutions by keeping in mind the evolving working scenarios can reduce the amount of time and effort that goes into the generation of the payroll. In fact, a good system can also automate the process thus reducing error and streamlining the process. Going digital and developing a system that is integrated with the HR, reporting system, and payroll and uses automation can help a business make better decisions.
Here are a few statistics from businesses in the USA that also stress the importance of implementing a smart attendance system:
The cost of time theft at a workplace amounts to $11 billion per year.
$373 Million is the annual cost for buddy punching.
25% of businesses use a time-tracking application, while the other 25% use spreadsheets, 14% use touchscreen kiosks, 10% punch cards, 7% biometric, and 3% email.
Over 75% of businesses deal with Buddy punching issues.
Tips To Develop a Time and Attendance Tracking Software
The decision to upgrade or install a time & attendance tracking software is a big one. Hence it is a good practice to research the topic thoroughly prior to going ahead with building one. There are many different approaches to developing software like this and it can also be implemented in many different ways. Here are a few tips on how it can be developed:
Hosting this software in the cloud allows it to be accessible to employees, managers, and other business executives. It serves the purpose of maintaining the attendance data and also allows one to manage it remotely.
One of the key features of such a system is the ability to generate reports since all the data is recorded in a well-defined database.
The system can be designed as per the business's specific requirements. It can allow the management to gain information on where the employee is working, which is useful for a company with multiple offices or one with work from home policy. It can also help procure data on what they are working on.
Firms can incorporate a client billing solution and automate the process of generating invoices using this system. This can be done by taking data from logs created by the employees that track the time spent working on a specific project.
This type of software is integrated with the payroll system of a business as well to automate the salary process of all employees.
A mobile attendance system is ideal for companies that also employ remote workers. A system like this would typically use GPS data to verify the time and location and track employee movements.
Develop a smart attendance system that also solves common human error issues. It is not uncommon for employees to record their attendance multiple times resulting in duplicate data or to forget to record their entries altogether. The smart system can send reminders to ensure all correct data is recorded and also eliminate duplicate data.
Some of the main features of time and attendance tracking software include time tracking, flexible scheduling, managing absence & payroll, integration with project management, HR policies, etc.
Acquaint Softtech offers complete time and attendance solutions under one roof. We have a dedicated team of developers to assist with the development of a state-of-the-art time & attendance system. We use a well-defined development methodology and we deliver applications of high quality that are free from bugs or errors.
Important Features to Include
At Acquaint Softtech we have highly trained and skilled developers with a great deal of experience. You can trust us to develop a top-notch custom time and attendance solution for your business, Some of the features of attendance management systems like this include:
Multiple locations: The system can integrate attendance reports from an office located in different parts of the country or world. It helps eliminate the need to manually merge the reports for further processing.
Holiday configuration: All the holidays of the year can be programmed in the system in advance for each operation and generating reports.
Flexible schedule: It can be specially configured to handle the flexible working hours structure of employees and also manage multiple shift timings.
Security: A system like this can also double as means of security. It records the entry time as well as provides access to the office. It can also dynamically generate temporary IDs for a visitor after approval and authorize them to enter the building.
Data storage: The massive amount of data generated by a system like this is stored using a cloud storage solution to ensure the least amount of downtime.
Multiple users: This type of system can be integrated with several other systems of a firm like payroll, project management, etc., and allow multiple users to access the data and generate respective reports or analyze the data as per their requirements.
Custom reports: Generate custom reports for each employee to assess their performance and make important decisions regarding their appraisal, perks, and further contribution to the company.
Automation: A system generates a lot of data that is almost impossible to manage manually. It can automate several processes like generating several reports like employee behavior, employees arriving late or taking too many leaves, payroll, and invoice generation.
Smart budgeting: Integrated with the financial tools of the company to allow for smart budgeting besides automating payroll.
Time tracking: Serves the basic purpose of recording the attendance of every person entering the building or office.
Policy compliance: It can be customized to ensure compliance with the HR policies as well as any Governmental regulations that apply.
Have you read enough and wish to develop a software for your business?
What are the Benefits of Developing Time and Attendance Software?
The technologies continue to evolve and new technologies are implemented every year. The reliance on technology is on the rise as well. Thus, it would be highly beneficial for all firms to design a custom software solution to manage their time and attendance system. Listed here are some of the benefits:
Space saver: It eliminates the need to maintain manual time sheets and dedicate a special space to store them or work with them to generate reports.
Simpler: It can implement several advanced technologies and ensure ease of use.
Automation: It helps automate the payroll process by managing payments to the employees irrespective of the size of the company.
Hassle free: It can raise the level of employee satisfaction.
Branding: It is the perfect tool to personalize the process and also for branding.
Centralized Data: Offers a centralized system to manage attendance irrespective of the number of office locations.
Real-time Data: Real-time attendance reporting to gain information on the whereabouts of the employees, especially in the case of pre-scheduled meetings.
Affordable: The cost to build time and attendance software is small compared to the time, effort, and cost of having to manually process all the tasks dependent on this data. This includes processes like payroll, invoice generation, project invoicing, and custom report generation.
A time and attendance system is essentially a software solution that also includes the use of hardware like a biometric scan or a similar device and keeps track of the working hours or attendance. However, there is more to this system than meets the eye, since the data generated from this system is used for various solutions.
All types of industries can benefit from smart time & attendance systems like this. Acquaint Softtech has the perfect team of professional developers who can assist with the development of such a system. We have the resources and the experience to see your project through from concept to completion.
Schedule a meeting with the experts at Acquaint Softtech Improve your business operations with our time & attendance solution.
What is Time and Attendance Software?
It is software that helps record the attendance of the employees to help generate a wide range of custom reports. It is useful for various industries and can be integrated with other systems like payroll, finance, project management, etc.
What are the features of a time and attendance solution?
This type of software allows employees, students, and visitors to record their entry and exit times. Some of the other features include integration with other systems of the company like HR policies, Government policy compliance, payroll, invoicing, project management, and more. It allows one to create custom reports as per required.
What to expect from a time and attendance system?
Besides allowing visitors and employees to record their attendance it can also incorporate a security feature. It eliminates human error, duplication of data, and the need to invest in multiple systems for different locations. It should include features that simplify the creation of custom reports and be well integrated with other systems of the firm like payroll, HR policies, etc.