Time is Money

There is no Time like the present

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Time is Money

One of the challenges that faces most small to medium size businesses is to optimize their wage bill i.e. ensure that the hours your staff claim they worked matches the actual hours they worked. This can be a daunting task unless you have an effective time and attendance system. 

 

Time is money. Poor management of Employees' Time in a business can be extremely costly.

 

Many companies are unaware of the significance of the financial loss that results from employee time theft. 10 minutes lost time a day equals a working week of lost time per year. That’s for a single employee. Multiply that by the number of staff you employ and the figures become scary.

 

By incorporating an effective Time & Attendance system you are able to calculate normal time, overtime, public holiday hours and leave hours efficiently. You will be able to manage absenteeism, late arrivals and early departures and to establish workforce labour trends and inefficiencies with management dashboards, exception reports and analysis graphs.  

 

So what if you already have a time and attendance system? Does this mean you can sleep easy at night? Not really. A badly administered Time and Attendance system is as effective as not having one at all! One has to be sure that the system configuration, training and backup support provided by your time and attendance solution provider is 100% comprehensive. Once you have the correct foundation in place for the system, add to that a well-trained Time and Attendance administrator and back it up with a company that offers you exceptional after sales support, then you will certainly reap the rewards as a business owner by saving time and money.   

Risky Business

 

One of the biggest risks your wage bill is exposed to is “buddy clocking”. As an example, if I have my colleague’s clock card, I can easily clock him "in" for the day without him having to set foot on the premises. With the advent of biometric-based Time and Attendance solutions this has been addressed so now business owners have peace of mind that “buddy clocking” is a thing of the past.

 

As biometric systems have evolved they have become cheaper so now this technology is within reach of small to medium size business owners. As with any investment in technology based systems, it is essential to do your homework when choosing a supplier. There are plenty of opportunists in the market looking to make a quick buck. If your supplier disappears you may be left with a system that cannot be supported and therefore is effectively useless.

 

Eco Time is the preferred supplier of biometric clocking systems in the South African Time and Attendance market. With over twenty years of experience, Eco Time has earned a reputation for providing Time and Attendance solutions that match the requirements of its clients. 

 

Eco Time provides a range of business solutions, namely: Time and Attendance; Access Control; HR and Leave Management; Job Costing; Cloud Solutions; Mobile App; Visitor Management Systems and more . Eco Time’s systems are developed in South Africa for South Africa. With offices in Cape Town, Johannesburg and Durban, our clients can rest assured that there will always be a service consultant close at hand.

Value added benefits of an effective Time & Attendance system:

Transparency: Business owners need to have an idea of what is happening on the floor. Some business owners have more than one retail store, restaurant, or food outlet and they can’t be at all of them at same time. These owners can easily access the system remotely and assess their staff compliment for the day and make notes on absenteeism, lateness, leaving early etc.

Control: One can only effectively manage a business if you have control of your overheads. In the modern era there are management systems for just about any overhead or business process out there. This hands control back to the business owner and allows them to focus on growth rather than trying to plug holes caused by bad business practice. Time and Attendance solutions are no exception to this rule. The wage bill can be a significant overhead which needs to have a highly effective system in place for greater control.

Time Theft: Unfortunately it exists in most businesses. Direct time theft is, as mentioned above, when I clock my (absent) colleague in for the day using his clock card. Other examples include arriving late, leaving early, taking longer than permitted breaks. Business owners need peace of mind that they are not paying people for idle time. Indirect time theft is when wage clerks make adding or typing errors when processing payroll. This can lead to expensive mistakes! Time and Attendance systems automate the payroll process. If the system is set up correctly the wage clerk shouldn’t be manually entering any data (or at worst very little). A decent system must offer an audit trail of any changes to time and attendance data. This gives the owner more control over what was changed and why.

HR Benefits: Owners often worry whether their staff will perceive a time and attendance system as a lack of trust on their part. It is a legitimate concern and it is recommended that staff are briefed before a system is implemented. In the long run the system will enhance the owner’s relationship with his staff. Staff will be less inclined to take “chances” with their time keeping if a system is in place that reports on this. This will result in fewer disciplinaries for time keeping offences.

We are confident we can cater for your Time & Attendance requirements. Don't take our word for it, have a look at what some of our clients have to say: https://www.eco-time.com/references/.

 

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