Most major organizations have already jumped on the automated payroll wave. A lot of small businesses are following suit too. According to a State of Small Business Report, 20% of small businesses surveyed showed a willingness to invest in new tools that can improve employee productivity. While 57% of respondents in the same survey also said paying for a new HR software was within their budget discussions for the upcoming year.
Businesses that still use traditional time and attendance gimmicks rather than systems such as paper time cards or a manual attendance register, are prone to errors such as memory recall and ‘buddy punching’. These can lead to mismanagement of funds while paying overtime, leaves, etc. and lead to hundreds of thousands of dollars in damage to your company. Deploying a HR management system with time and attendance tracking abilities help you create a more productive, efficient and happy workforce and protect against abuse of your rules and regulations.
Benefits of Time and Attendance Software
The long hours, late nights and usual high stress associated with sorting through manual databases is a key issue that HR personnel deal with every month-end. Automated time and attendance software like IFS for the enterprise can provide a host of benefits, like:
1) Automated Payroll
Did you know that by automating payroll calculation through HR software with time and attendance tracking you can cut your time spent on payroll by 70%? It also cuts out chances of costly human errors with manual data entry and ensures a consistent process.
2) Automated Leave Management
HR teams are often bombarded with questions about remaining sick or leave days for an employee. Automated leave management systems allow your HR team and employees both to be aware of the number of leaves on a common dashboard.
3) Remain Compliant
Many state and national labor laws, like the Fair Labor Standards Act requires you to keep a record of things like overtime pay and work record keeping. The best HR software like IFS Applications for human resources can help you remain compliant will all the latest laws and regulations.
4) Real-time tracking and Workflow Management
Automated attendance management with real-time tracking and automated inputs increases overall visibility of all workers and work they are engaged in. This not only makes approval for overtime, per hour billing, etc. easier but is also beneficial for managers looking to deploy resources for various projects.
IFS Human Capital Management
IFS Applications is a global, component-based enterprise resource planning (ERP), enterprise asset management (EAM) and field service management (FSM) software. IFS Applications is a full software suite that has multiple smaller modules in it to manage different business components within your company. The IFS Applications HR module- IFS Human Capital Management lets you save on cost and time through fast, accurate analysis for all important HR needs including workforce management and strategic human capital management. IFS Human Capital Management provides dedicated tools for:
- Employee & Organization Management
- Development & Training Management
- Expense Management
- Time & Attendance Management
- Payroll Transactions Interface (Payroll Administration)
- Health & Safety
- Recruitment
Ready to tackle your time and attendance issues once and for all? Give us a call at ProV.
ProV offers one of the best IFS Applications pricing and provide best-in-class services for IFS implementations, IFS software support, and IFS customizations. We are a multiple award-winning partner for IFS products and services that help simplify implementation, integration, update, or customization of your software when you need it most. Take our FREE Consultation today to get started!
