Switching to a time card app for your large business isn’t an expense, especially when looking at national data on payroll errors. The American Payroll Association estimates that buddy punching accounts for 2.2% of total payroll expenses and other payroll errors count for 1.2%. This adds up every payroll period. As a result, your large business is eating the 3.4% of payroll spent on mistakes and misinformation. And your business is eating the additional overtime for superintendents and accountants for processing. That cost alone should be reason enough to switch to a time card app for large businesses. But here are more reasons why it is an easy and cheaper solution to your current time solution.
Using a time card app increases employee accountability. Time card app solutions usually are punch in/punch out. Which means that employees have to punch in at the beginning of their shift and punch out at the end. Most employees fill timesheets out at the end of the day or right before they’re due. It can also take a snapshot of their location, so you know when your employees reached the jobsite and start working and where they punched out.
Administrative Burdens and Costs
Switching to a time card app for large businesses also reduces administrative burdens and costs. Inputting timesheet or time card information individually is a drain on any large business’s resources. With timesheets, the information might not be legible which makes payroll team’s job harder. When it comes time for billing, timesheets and time cards don’t always have the cost code or project on them. So your accounting department might not even know where those time cards belong. The back and forth to ensure accurate information and to get the timesheet approved adds overtime for payroll and costs your business more money.
Simple to Use
Large businesses can find it hard to roll out new technology. There are a lot of employees to train on the software and sometimes people miss their training date. However, time card apps can be very easy to use. Many are downloaded to the employee’s phone and are a simple button to clock in or out. It reduces employee payroll concerns since they don’t have to worry about filling it out at the end of the week, losing it, whether the clock is correct, or their handwriting is legible. And they don’t have to worry about not being paid while their timesheet or time card being sent back for review. A good time card app allows for the back office to email or comment on time cards for clarification. And it ensures payment for workers.
Easy Job Selection
Another reason to switch to a time card app for large businesses is its centralized database. You have the ability to set up all job sites in your project database. That way your employees can select the job site they’re working on that day and the cost code of what they’re working on. This feature makes tracking labor much easier. You have a record of who was at the site, if people moved to different sites, and what job they did. This reduces the amount of time wasted on trying to reconcile these facts and saves you money.
Time card apps make it easy to track employee productivity. Time tracking apps can verify who was at the site and the cost codes make it easy to know what was done. With these two important pieces of information, you can figure out which sites were the most productive and who is the most productive. This data can be used in promotions and restructuring teams. Since you know who has the standards and speed you prefer, you can have them teach others. It gives large business owners a better understanding of their business.
Simple Payroll Automation
A time card app for multiple employees is worth switching to because it’s easier to input into your payroll and accounting solution. Paper timesheets or time cards require manual input by the payroll or accounting department. Then they can export it into the payroll solution. A time card app allows users to export the time reports for approval and into the payroll app easily.
Payroll and Labor Compliance
Time card apps make compliance and auditing easier for large businesses. Bloomberg BNA reports a rise in wage and hour litigation, as a result, large businesses have to keep their time cards and time sheets in case of litigation. Time card apps for large business can protect your business since you can pull old time cards easily from your business’s protected and hosted data. More importantly, time card apps help guarantee accurate information the first time. In areas with strict regulation about hours and pay, time card apps make business life easier.