Even though business enterprises and many organizations have desktop PC’s and computer controlled equipment, they still use manual systems for doing payroll activities. Manual systems requires more labor, are more prone to errors, and complex to maintain over time. Barcode time and attendance systems helps in improving payroll accuracy and efficiency. Simultaneously, they help in decreasing errors which involves money or prevents from getting into administrative trouble.
Barcode time and attendance systems will not only reduce the time necessary to complete payroll tasks, but also they help in eliminating fraud and paperwork storage requirements. As barcode time and attendance systems increases efficiency, Return-On-Investment (ROI) can be noticed in less than a year depending on elimination of manual time logging and auditing operations. Business operations performed by barcode time and attendance systems to save money by eliminating labor associated work are:
- Eliminates problems like rounding, key entry and mathematical errors.
- It can perform payroll preparation in very less time.
- Decreases time card management scrutiny time.
- Eliminates payroll conflicts with employees.
- Decreases time needed for payroll auditing tasks.
- Eliminates loss which can occur due to fraud and problems due to lack of conformity with company policy.
- Eliminates time needed for compliance reporting.
Barcode time and attendance systems provide favorable circumstances to save money by boosting employee performance and productivity.