Of all the benefits an organisation can attain through a time and attendance system, cost saving might not be the first to spring to mind.

Freeing up HR admin time, reducing absenteeism and improving punctuality can all be achieved by investing in a time and attendance solution, however many organisations also find that they can make budgetary improvements following implementation. Here are just a few of the ways a digital time and attendance system can help your business save money.

Reduced errors and inaccuracies

Human error is an inevitability every organisation will be affected by from time to time. Mistakes and inaccuracies within a business often take time and effort to identify and rectify, but it’s easy to forget that this downtime also equates to a waste of money. Just as an example, research shows that mistakes made solely in UK payroll enable HMRC to pocket an extra £700 million a year, mainly from SMEs.

Rather than relying on disparate manual management of departments such as HR and payroll, a time and attendance solution works to standardise these core business systems. The ability to integrate with third-party systems means employee records for payroll and HR processes can be automatically aligned with time and attendance data and exported from a single data store, even across multiple working locations. This results in less manual data entry and less scope for costly human error.

Increased security and productivity

Now so more than ever, data protection is of upmost importance to businesses and commercial organisations. Your customers and staff alike want to know that any personal information you hold about them is stored securely.

A time and attendance system provides robust security for operational and organisational information, helping to protect against the monetary and reputational damage that comes with a data breach. What’s more, a cloud-based solution saves money on physical servers and expensive hosting services.

In terms of productivity, the benefits are even clearer. Staff can clock in and out and get on with their days seamlessly, while your HR team can work from accurate time and attendance records without having to manually log them. Time and attendance monitoring shifts from an administrative task to be carried out, to a process that manages itself, allowing productivity and profitability to peak.

Improved automation

Turning to technology to automatically manage the employee hours in your organisation can create several cost savings. For example, digitally tracking the daily comings and goings of your employees can reveal patterns or habits in their timekeeping that might otherwise go unnoticed, such as repeated lateness on a particular day of the week or month. Armed with the data, you can address punctuality issues before they escalate and become a problem that costs you money.

It’s not just time and attendance software that enables cost-cutting through automation; the access control hardware your team members use to clock in and out comes with its own advantages. An access control solution with biometric readers, for example, which scan fingerprints before letting authorised personnel in, prevent the potentially expensive practice of ‘buddy punching’. Employees can no longer clock in for each other, and your organisation ensures it doesn’t pay staff for hours they haven’t done.

Make cost and efficiency savings with a time and attendance solution

On top of all the operational benefits, digitising your business’s time and attendance management can tighten many processes that add up to real cost savings over time. To find out how a time and attendance solution could fit into your organisation, get in touch with our expert team today.

ABOUT THE AUTHOR – LYNDEN JONES

Lynden joined Touchstar ATC (formally Feedback Data) in a sales role for Access Control in 2010.  Prior to joining the company, Lynden held both Production and Account Manager roles, gaining wide technical and commercial experience within the electronics market.  

In 2013 Lynden was promoted to Sales Director and in 2017 he took overall responsibility of the business as Managing Director. As well as running Touchstar ATC, Lynden still remains extremely active in the sales and key account management aspects of the business. When not involved in the business, Lynden is a keen performance car enthusiast.