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Top 6 Reasons To Invest In Cloud-Based Time and Attendance Tracking Software

  • By Hidden Brains
  • May 9, 2023
  • 505 Views
Benefits of Cloud Based Time and Attendance Tracking Software 1

Time and attendance tracking software solutions have become a buzzword after the outbreak of Covid-19. With the changing working scenarios, having efficient management of employee time and attendance has become a critical aspect of organizational success.

Now gone are those days when people were stuck in 9 to 5 jobs. The wave of covid-19 has forced organizations to implement flexible remote working patterns. But with the rise of remote work and flexible schedules, traditional manual methods of tracking employee hours have become outdated and error-prone. 

This is where cloud-based Time and Attendance Tracking Software comes in. By automating the process of timekeeping, businesses can streamline their operations, reduce administrative burdens, and ensure accurate payroll processing. 

According to a study by MarketsandMarkets, the global workforce management market, which includes time and attendance tracking software, is expected to grow from $5.25 billion in 2018 to $9.01 billion by 2023, at a compound annual growth rate (CAGR) of 11.4%. 

Time and Attendance Tracking Software

Image Source: marketsandmarkets.com

Still, a staggering 64% of employers still use manual methods for time and attendance tracking. 

Businesses that invest in cloud-based solutions can enjoy up to a 50% reduction in administrative time spent on tracking employee hours (according to a study by the Workforce Institute). This not only improves productivity but also helps to enhance employee satisfaction and retention rates.

So if you are still using the traditional methods of tracking an employee’s time and attendance, then you need to hire a software development company in the UK that can help you build a perfect solution. But before you make an investment, you must be curious about understanding the benefits of using cloud-based time and attendance tracking software.

Top 7 Benefits of Using Cloud-Based Time and Attendance Tracking Software

Is your time and attendance tracking system holding you back? If yes, then it’s time to bring safety, accuracy, and reliability to your employee time-tracking system by simply switching to cloud-based time and attendance tracking software. But before that, you must be wondering how it helps you streamline the employee time and attendance tracking system. 

Well whether your employees are working remotely or in a traditional setup, ensuring the safety and productivity of employees is the first thing to look after. To achieve this, it’s important that you have the right solution in place. 

Generally, in traditional workspaces, we have various employee tracking systems in place including fingerprint scanners and card punches which are enough for monitoring breaks, total working hours, and more.

But what if you are handling a remote team?

  • How will you monitor the work time spent by the employees?
  • How do you address if there is any workflow issue that can impact productivity?
  • How will you calculate the working hours of the employees or manage employees on an hourly basis?

That’s where cloud-based time and attendance software solutions come into the role that automatically synced with payroll and HR database, and enables you to process payments, approve leaves and track changing employee schedules. 

That’s not all… Let’s check out the core benefits of developing time and attendance-tracking software….

Top Benefits of Using Time and Attendance Tracking Software

Time and Attendance Tracking Software

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– Eliminate the Risk of Human Errors and Increase The Data Accuracy

One of the biggest benefits of using cloud-based time and attendance tracking software is the increased accuracy it provides. With traditional paper-based systems, there is a greater chance for errors, such as data entry mistakes or misplaced timecards. 

According to a survey conducted by the American Payroll Association, manual time tracking can result in up to 7% of total payroll costs being due to errors. 

By hiring a mobile app developer in the UK, you can develop cloud-based software that automatically records time and attendance data, reducing the chances of errors and making the payroll process more efficient.

– Enhanced Compliance

Time and attendance tracking software can help businesses stay compliant with labor laws and regulations. For example, the software can automatically calculate overtime pay, track accruals for paid time off and provide accurate reports for government agencies. This can help reduce the risk of compliance violations and costly penalties.

Improve Productivity And Streamline the Workflow

By using cloud-based time and attendance tracking software, businesses can save time and resources that would otherwise be spent on manual processes. Employees can clock in and out from their own devices, reducing the time spent waiting in line to punch a time card. In addition, managers can access real-time attendance data, allowing them to quickly identify and address attendance issues before they become bigger problems.

Improved Employee Engagement

Cloud-based time and attendance tracking software can help boost employee engagement by providing transparency in the attendance process. Employees can view their own attendance records and track their paid time off accruals, giving them more control over their schedules. This can also help reduce absenteeism and increase accountability.

Save Time and Cost By Automating the Process

Time and Attendance Tracking Software

Image Source: financesonline.com

Implementing a cloud-based time and attendance tracking software can lead to significant cost savings for businesses. For example, by reducing the need for manual processes and data entry, businesses can save time and resources. In addition, accurate time tracking can help reduce payroll errors and overpayments, leading to cost savings over time.

Easy to Scale As Your Business Grow

Cloud-based time and attendance tracking software is scalable, which means it can grow with your business. As your business expands, you can add new employees and locations to the system without having to worry about outgrowing the software. This can help businesses save time and resources by avoiding the need to switch to a new system in the future.

Read more about: Top app development ideas that skyrocket your business growth..

Knowing these benefits will surely encourage you to get started with the cloud-based time and attendance tracking software. But how will you get started to develop time and attendance tracking software? By hiring a time and attendance tracking software development company in the UK, you can easily get started. But to make it successful, you need to know what features do you need to integrate.

Let’s check the important features…

Must-Have Features To Build Time and Attendance Tracking Software

Time and Attendance Tracking Software

When building time and attendance tracking software, it is important to include a range of features that will help businesses manage employee time and attendance accurately and efficiently. Here are some of the must-have features to include in the user panel, employer panel, and admin panel:

User Panel Features:

  • Clock In/Out: Users should be able to easily clock in and out of work, either through a web interface or mobile app. This feature should be user-friendly and intuitive, allowing employees to quickly record their work hours. To make it work flawlessly on the Android platform, it is important to hire Android app developers in the UK.
  • Leave Request: Users should be able to request time off, whether it is a vacation or sick leave. This feature should allow users to specify the reason for the leave, the date(s) of the leave, and any other relevant information.
  • Time Card Management: Users should be able to view and manage their own time cards, including reviewing past clock-in/clock-out times, verifying time card accuracy, and correcting errors if necessary.
  • Schedule Management: Users should be able to view their work schedules, including upcoming shifts and any changes made by their employer. The software should also allow employees to set their availability and request shift changes.
  • Overtime Management: The software should automatically calculate and track overtime hours worked, allowing users to see how much overtime they have accrued and how it affects their pay.
  • Notifications: Users should receive notifications when their time card is updated or when their leave request is approved or denied.
  • Mobile Access: The software should be accessible on mobile devices, allowing employees to clock in/out and manage their schedules on the go. For seamless functionality, you can look for an Android app development company in the UK that can handle the task. 
  • Payroll Information: Users should be able to view their pay stubs and track their salary and wage rates.
  • Accurate Time Off: The software should automatically track users’ accrued vacation, sick, and personal time off, allowing employees to see how much time they have available to take.
  • Time Tracking Analytics: Users should be able to view the analytics of their working hours, such as the total hours worked, the number of overtime hours worked, and the number of sick or vacation hours used.

Depending upon your time tracking module, you can add more features in the user panel but never make a complex interface of the app.

Read More to know the breakdown of the cost to create a web app.

Employer Panel Features:

  • Employee Management: The employer panel should allow managers to view and manage employee information, including schedules, time off requests, and attendance records.
  • Schedule Management: The employer panel should allow managers to create and adjust schedules for employees easily. This feature should be able to handle complex scheduling requirements such as shift rotations, holiday schedules, and more.
  • Notifications: The employer panel should have a notification system that alerts managers of missed punches, late arrivals, and other attendance-related issues.
  • Reporting: The employer panel should have a reporting feature that allows managers to generate reports on attendance trends, overtime hours, and other key metrics.

These are the few essential features that you should consider including while hiring a software developer in the UK to create an employer panel of time and attendance tracking software.

Admin Panel Features:

  • Access Control: The admin panel should allow the software administrator to manage access and permissions for different users within the system.
  • System Configuration: Make sure the admin panel has a feature that allows the administrator to configure system settings, such as payroll rules, pay rates, and overtime policies. You can choose to hire dedicated developers in the UK.
  • Data Security: The admin panel should provide data security features such as encryption and password protection to ensure that sensitive employee information is kept safe.
  • Customization: The admin panel should allow the administrator to customize the software to meet the unique needs of the organization, including branding, user interface, and features.

You can add many more features to your app as per your business needs. But keep in mind that it will cost you a higher price. But how much does it actually cost you to build a time and attendance tracking software?

Let’s check it out..

How Much Does It Cost to Build Time and Attendance Tracking Software?

Different businesses have different requirements, so there is no application that fits every business module. And different apps are crafted with various choices of features and boast different levels of complexity, so there is no standard cost of developing time and attendance tracking software. 

The cost of developing a cloud-based time and attendance tracking software can vary greatly depending on a number of factors. Some key considerations include the features and functionalities of the software, the size and complexity of the project, the skill level and location of the development team, and the development platform and technology stack being used.

Typically, the cost of developing such software would include expenses related to project planning and management, software architecture and design, development and testing, and deployment and maintenance. Additionally, its cost may also include licensing fees for any third-party software or tools being used, as well as ongoing costs for hosting and support.

If it comes to concluding the cost, then the average cost to create a time and attendance tracking solution is ranging from $10,000 to $20,000 and can go up to $50,000.

To get a more accurate estimate of the cost of developing a cloud-based time and attendance tracking software, it is important to conduct a thorough analysis of the project requirements and scope, as well as the available resources and budget. 

Working with an experienced software development team can also help to ensure that the project is completed on time, within budget, and to the highest standards of quality and performance.

Conclusion:

How Do Hidden Brains UK Can Help You Get Started With Cloud-based Time and Attendance Tracking Software?

After the outbreak of Covid-19, cloud-based time and attendance tracking software have become an integral part of any organization. But to get started with an effective time and attendance tracking tool, it is worth hiring a software development company in the UK that help you integrate all such advanced features into your system that results in accurate data, improve productivity, and save cost.

Hidden Brains is one such leading mobile app development company in the UK that help you create a cloud-based time-tracking solution using advanced technologies and industry-driven methodologies to achieve success.

If you have any app development requirements and looking for a reliable team that helps you with app designing, development, and deployment then you can contact us or drop a query below…

FAQs

What are cloud-based time and attendance tracking software?

A Cloud-based time and attendance tracking software is a web-based tool that enables businesses to track employee attendance and working hours. It allows employees to clock in and out using their mobile devices or computers and provides real-time data to the management.

What are the key features of cloud-based time and attendance tracking software?

The key features of a cloud-based time and attendance tracking software include an employee self-service portal, time clock integration, real-time attendance tracking, automated timesheets and payroll processing, customizable reporting, and compliance with labor laws.

How can a business ensure data security with cloud-based time and attendance tracking software?

A business can ensure data security with cloud-based time and attendance tracking software by using secure data encryption, implementing access controls and authentication, regularly updating software and security patches, and complying with data protection regulations.

How much does a cloud-based time and attendance tracking software cost?

The cost of cloud-based time and attendance tracking software depends on several factors, such as the size of the business, the number of employees, and the features required. Generally, it can range from a few hundred to a few thousand dollars per year.

Can a cloud-based time and attendance tracking software integrate with other business tools?

Yes, a cloud-based time and attendance tracking software can integrate with other business tools, such as HR management systems, payroll software, and accounting tools. Integration with other business tools can streamline processes, reduce errors, and increase efficiency.

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