How the Fingerprint Clock Directly Affects Payroll
A lot of businesses lose an incredible amount of money when it comes to payroll. While this may always be your greatest expense, there are ways you can shave some of that money down. One of the most efficient methods is using a fingerprint clock to manage attendance. These biometric systems record employee time with great precision. It’s this recording and organizing of data that will save you the most money.
Biometric scanning systems will clock employees in and out with exact precision. This means your organization will pay staff members for the right amount of time they are on location. You may think that a one-minute difference may not be a lot. When you consider the number of employees in your company and each person’s rate of pay, it can add up very quickly. If someone is supposed to start at 8:00 am but walks in at 8:04, why should you pay for those extra four minutes? Depending on how much that person is paid, it could be like handing out a dollar to someone just for being late.
Stopping Buddy Punching of the Time Clock
Buddy punching is when a friend will punch an employee’s time card even if he or she is not in the building. This is nothing short of time theft, and it may be happening more often than you realize. It may also be costing you a great deal of money over time. A fingerprint clock reads biometric data unique to each individual. These systems stop buddy punching altogether and forces an employee to be at work if he or she wishes to be paid.
A fingerprint clock doesn’t just keep the pay accurate. It can also help in reducing errors that may happen in the payroll department. An automated system such as this doesn’t rely on hand-written time sheets or other illegible documents. This can save money in man-hours from others having to fix mistakes. Since reports are readily available on virtually any Internet-accessible device, you can make sure of the accuracy of the fingerprint clock from anywhere.
When you hire a new employee to manage payroll, there is a certain amount of man-hours that the business will lose. As one learns how a system operates, you may not expect a seamless and quick training period. A fingerprint clock can greatly reduce this loss of time and efficiency by making the system quick and easy to learn. Since most of its operation is done through software, there is far less effort when it comes time to print checks for employees.
Statistically, a biometric fingerprint clock has a high return on your investment. It has potential to save the company a lot of money through several key areas and departments. The next time you examine the business for efficiency, take a closer look at what a fingerprint clock can do for the organization. It may be a key point to saving a lot of money over the course of the fiscal year.
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