As a business owner, it’s important that you do everything that you can to ensure that your business is as productive and efficient as possible. It’s crucial that you know how much time your employees are clocking and what wages you are paying each month. Savvy business owners can use this information, in conjunction with other financial reports, to get an overall picture of their business. You need to be sure that you are getting a good return on your investment in your employees and that the hours being clocked are warranted.
For larger businesses, having accurate employee information is even more important as it is easier for things to slip through the cracks. Modern technology has allowed business owners and managers to stay in control of their employee schedules and payroll. An attendance app can make the entire process very simple, giving you the opportunity to manage your employee schedule remotely or while you are on the go. With this level of flexibility, business owners and managers can manage their team more effectively and help the business to grow over time.
Continue reading to learn how a timesheet app can help your large business to operate more efficiently going forward.
Improve efficiency
Of all the reasons to use a timesheet app, improving the efficiency of the business is almost always top of the list for business owners. Depending on the program you choose, your employees can take a lot of the work out of the hands of the payroll officer simply by inputting their work time into the timesheet app themselves. This completely removes the need to collect timesheets, to post due dates, and to hope that all employees submit their timesheets on time.
With the times worked already entered into the system by employees, payroll officers simply need to review submissions for errors and omissions in the information before finalising the report. As opposed to spending days in the office manually sifting through pages of information, managers now need to spend far less time processing this information. This allows your team to focus on other areas of the business that can help the company to grow and thrive going forward.
Accurate payroll records
Attendance rostering is important for large businesses as it helps you to keep more accurate payroll records. When dealing with employees, (both full and part-time) large businesses tend to have high rates of employee turnover, especially in low level, part-time positions. This transiency can make for an administrative nightmare for payroll staff that are required to submit tax and superannuation information to the Australian Taxation Office (ATO) every year. Accurate records mean you will have bulletproof statements and reports at the ready when the submission dates roll around.
Work trends
With attendance rostering, businesses also have additional analytical functions that can help large businesses to track work trends. Trends that include the most opportune times of the day, week, and month to complete certain business functions can be very helpful when it comes to creating employee schedules.
For example, if you notice repeat trends such as employees being sent home regularly on particular days of the week due to a lack of work, you can use this information to better forecast what will be required next week or next month. Gaining this information through a timesheet app can help businesses make predictions in regards to future staff scheduling and ensure that the business operates more efficiently as a result.
Making big business work
Attendance rostering is a great addition to any business and can be a huge advantage to both employers and employees. Payroll can be handled much more efficiently while employees can take more ownership of keeping track of their own time. Timesheet apps also provide businesses with a variety of functionalities outside of simply collecting employee work times. This information can be used to improve business processes, streamline business operations and, ultimately, help the business to become more successful going forward.