For any company, time is the most valuable asset, thus your employees must make every moment of the day count. One of the most difficult duties is the monitoring of employees’ time and ensuring that projects are delivered on time.
That’s just half of it. Manually entering time & attendance data into payroll software for payroll management can be a time-consuming procedure. Although many HR software solutions provide time monitoring features, they are unable to manage complex structures.
When you combine time tracking software with payroll software, you get a comprehensive solution. In other words, it has the potential to boost your bottom line results to new heights.
Let’s take a look at some of the main advantages of payroll integration with time tracking system:
Accurate Payroll Processing
Employee attendance data is collected in real-time by time and attendance software, and payroll integration transfers this data to payroll software seamlessly. The automated payroll management procedure reduces manual participation and is more effective, leading to accurate payroll processing.
Centralized Attendance Data:
Payroll processing for individuals who work remotely and from numerous locations can be a daunting task. A major issue for HR departments is a lack of unified and accurate figures for payroll management.
With an automated and centralized time-attendance system, precise data on employee attendance can be captured. You can access accurate data for payroll management when your payroll and time-attendance systems are in harmony.
Say Goodbye to Paperwork:
The integration of automated time and attendance systems with payroll software makes life a lot easier as it allows you to store attendance data digitally. Furthermore, because the entire integration process is devoid of tiresome documentation, it surely reduces paperwork.
Today’s business world is all about speed and efficient communication. A whole lot of companies are coming up with mobile apps, chatbots, etc, to make communication instant, while moving on paper seems like an age-old practice.
Many companies are still using paper paystubs (which is quite harmful for the environment), while very few are moving to online pay stubs to manage paychecks.
With pay stubs, all your pay-related information is collected in one place. It includes hours worked, pay rate etc along with any deductions (taxes). This makes it easier for your employees and you to keep track of all.
Real-time Monitoring and Control:
Keeping track of employee attendance records can be difficult for any company. However, the capability of integration allows for real-time analysis of working hours, absence patterns, and more with just a click.
The majority of automated time and attendance systems provide an employee self-service portal where people can track and manage their time and attendance and leave options. Employees can access information such as their shift patterns, attendance, leave data, leave/ vacation requests, and much more.
Improving Employee Satisfaction
Scheduling and managing time-off requests are critical components for keeping your workforce happy. Employee happiness can lead to a significant reduction in concerns such as turnover. Employers who provide enough hours for employees to optimize their earnings while also being flexible enough to meet vacation requests or schedule needs often encourage a positive employee experience.
Such requests may be rapidly reviewed, approved, or addressed using automated systems, and planned absences can be managed to minimize their impact on your firm.
Employee satisfaction can also be influenced by performance reviews and pay raises. HR employees can be notified of approaching employee birthdays, benefits packages, eligibility dates, and other critical achievements through automated alerts.
An integrated system can effortlessly revise the employee’s pay rate as per their appraisals or, allowing the raise to take effect immediately. Employees can feel appreciated and fulfilled at work when HR has the resources to respond rapidly to these activities.
It is indeed preferable to invest in what you require rather than what you desire. You can create accurate reports on working hours, absenteeism, overtime, break hours, and so on, regardless of whatever system you use.
With the unified data, you can create customized reports for your departments, organisation, chosen individuals, and more to streamline and speed up your payroll process.
Protecting against claims of non-compliance
An automated time and attendance software can assist your organisation in defending itself against labor law violations. Employees, for example, may be limited to a certain number of hours per day or per week, based on applicable federal, state, and local regulations.
Managers can set up alerts and become aware of scheduling issues using time and attendance software, which can help them maintain compliance. Furthermore, overtime can be managed to help your organisation stay within regulatory, contractual, and company regulations for scheduling and compensation.
Timely Salary Payments:
Paying your staff on time and appropriately has a significant impact on their performance. The payroll procedure becomes less time-consuming and error-free when attendance data is uploaded in real-time.
Payroll administration with accurate attendance data is a critical HR function in any company, regardless of location or size. To obtain accurate and dependable results, it’s necessary to pay close attention to the details of every employee and seamlessly integrate it with payroll software.
Human resource professionals and managers can also benefit from an integrated interface because it allows them to access employee information as necessary, saving time and allowing them to make better decisions. Managers can also be certain that the data they’re looking at is correct and current.
Allowing old, manual, or independent time tracking processes to stifle your productivity is a bad idea. To successfully manage HR procedures while avoiding internal bottlenecks, switch to payroll software that is completely integrated with a robust online time and attendance solution.
Ansh Aggarwal has 6+ years of experience in the B2B Marketing space in India and International markets. Currently associated with Zimyo, Ansh is taking care of the entire gamut of marketing activities for the on-boarding of Enterprise clients. He communicates directly/indirectly with Industry leader CXOs, CHROs, IT Heads to understand their challenges and come up with solutions that are enabling them to transform their company into an employee-centric organization.