As described in Wikipedia, payroll is a company’s record of its employees’ salaries, wages, bonuses, and withheld taxes.
It goes onto to explain that from a human resources viewpoint, the payroll department is critical because as we all know, employees are sensitive to payroll errors and irregularities
Therefore good employee morale requires payroll to be paid timely and accurately and to do that the starting point for many businesses is the ‘clocking-in’ of employees working hours.
From our travels and meetings at TimeTerminal we are often struck by how many companies still use a form of paper punch-clock, then taking the print info and transferring it to an excel sheet. This laborious manual work is not only costly but leads to mistakes and friction that can be easily avoided. We also see an emerging use of the mobile phone optionally linked to built-in GPS & tracking solutions allowing management to access employees position, login and in or out presence at work.
But a trusted and less intrusive option is to use a TimeTerminal directly connected to a web application sitting in the cloud. That webapp smartly converts all the clockings-in/out to a language that can automatically recognise the individual employee (via code, RFID fob, card, fingerprint or even facial recognition), calculate their correct rates of pay, overtime, project specific work and thereafter bonuses and more.
The terminal is strategically placed at the business entry point eg: the main entrance, a staff only access or garage door etc and as all the terminals are connected via LAN, WiFi or 4G to the same hub, it means employees can come in through one way but leave via another.
All that generated clocking/out data is then processed in real-time making small or large businesses payroll automated, efficient and a significant cost saving to any old fashioned paper version.